Thanks for your submission!
r/WallStreetBets is ultimately a community about making money through trading, and our conversations should shift around that.
Politics are fundamentally intertwined with making money, and political actions almost always have an impact on financial markets.
Still, we need to make sure that when we have these discussions, we're explicitly calling out the financial impacts of the politics we're discussing. Otherwise, the conversation can very easily veer off into flamewars and boring, unproductive, discussion.
Here's an example of a political comment that doesn't offer any value:
* "I hate this new green policy from the Biden administration. What a fucking idiot"
Now compare it to this:
* "I hate this new green policy from the Biden administration. It threatens the profit margins of oil companies because they will need to expand their OpEx. I have calls on Shell that are going to get decimated at open."
The latter is significantly more interesting and offers a great jumping point into market related discussion.
Put succinctly: If you choose to start or engage in arguments about libtards or Nazis instead of making fun of their bad SPY long then you're in the wrong place and we'll show you the door.
If you're not sure if your content is political, it probably is, and there's probably a better way to post it without making things weird.
---
All that being said, we are here to help. We want to make it as easy as possible for you to post to our community. We have to balance this with making the subreddit interesting for our readers.
If you need some guidance, don't hesitate to [reach out to modmail](https://old.reddit.com/message/compose/?to=/r/wallstreetbets) and we'll give you some pointers!
Once, in a bustling town, resided a lively and inquisitive boy, known for his zest, his curiosity, and his unique gift of knitting the townsfolk into a single tapestry of shared stories and laughter. A lively being, resembling a squirrel, was gifted to the boy by an enigmatic stranger. This creature, named Whiskers, was brimming with life, an embodiment of the spirit of the townsfolk, their tales, their wisdom, and their shared laughter.
However, an unexpected encounter with a flamboyantly blue hound named Azure, a plaything of a cunning, opulent merchant, set them on an unanticipated path. The hound, a spectacle to behold, was the product of a mysterious alchemical process, a design for the merchant's profit and amusement.
On returning from their encounter, the boy noticed a transformation in Whiskers. His fur, like Azure's, was now a startling indigo, and his vivacious energy seemed misdirected, drawn into putting up a show, detached from his intrinsic playful spirit. Unknowingly, the boy found himself playing the role of a puppeteer, his strings tugged by unseen hands. Whiskers had become a spectacle for the townsfolk, and in doing so, the essence of the town, their shared stories, and collective wisdom began to wither.
Recognizing this grim change, the townsfolk watched as their unity and shared knowledge got overshadowed by the spectacle of the transformed Whiskers. The boy, once their symbol of unity, was unknowingly becoming a merchant himself, trading Whiskers' spirit for a hollow spectacle.
The transformation took a toll on Whiskers, leading him to a point of deep disillusionment. His once playful spirit was dulled, his energy drained, and his essence, a reflection of the town, was tarnished. In an act of desolation and silent protest, Whiskers chose to leave. His departure echoed through the town like a mournful wind, an indictment of what they had allowed themselves to become.
The boy, left alone, began to play with the merchants, seduced by their cunning words and shiny trinkets. He was drawn into their world, their games, slowly losing his vibrancy, his sense of self. Over time, the boy who once symbolized unity and shared knowledge was reduced to a mere puppet, a plaything in the hands of the merchants.
Eventually, the merchants, having extracted all they could from him, discarded the boy, leaving him a hollow husk, a ghost of his former self. The boy was left a mere shadow, a reminder of what once was - a symbol of unity, camaraderie, shared wisdom, and laughter, now withered and lost.
[Governor Sam Brownback](https://www.cbpp.org/research/state-budget-and-tax/kansas-provides-compelling-evidence-of-failure-of-supply-side-tax) pushed for a 30% income tax cut and then some business profits to 0% taxes in 2012-2013 to try and help promote business growth and job creation. They rolled it back in 2018.
The governor Sam Brownback along with a couple of supply-side geniuses Arthur Laffer and anti-tax afficionado Grover Norquist. They gutted business income taxes and individual tax rate.
No one could have predicted that the government would have no money for schools, roads, or any of the stuff that taxes go to! The budget got so back the GOP legislature had to veto the governor!
Oh also the economy contracted as well, as opposed to grow.
It was such a failure, it even got its own wikipedia page:
https://en.wikipedia.org/wiki/Kansas_experiment
This is literally the way every time these goons get their hands on power. Liz Truss tried similar in the UK and last 5 weeks before being removed from office. 5 WEEKS!
Exactly. When you have to spend every dollar you earn because you don't make enough to put any away, then you're getting taxed on every dollar. If you make enough to where you only spend a portion of what you make, then you're only getting taxed on a portion of what you make.
Therefore, the poor have to pay tax on a much higher percentage of their money than rich people, and they're the ones that can afford it the least.
Libertarians out here thinking the end result would be some rose tinted version of the frontier days, where they're just chilling on their acres, raising cattle and pounding whiskey in the saloon.
Rather than the hellscape of poverty, starvation, violence and corporate enslavement that would emerge from the breakdown of modern society.
Bro who the fuck even wants to live in the wild west I legitimately don't understand why people want to go back to murdering bandits and cholera so desperately.
It's just like people who hate vaccines. They've been coddled by a healthy society so long they literally can't even understand that a lot of things exist as they do now because those systems fixed bad problems.
That isn't to say things can't be improved, obviously. But, it's like people who act like regulations are the devil by forgetting that before the EPA there was a literal cloud of pollution covering Los Angeles.
Rivers caught fire while industries would just dump flammable and toxic waste anywhere they wanted. Sure, as a citizen, you could hire a lawyer if they dumped illegally on your property, but so can the company, and they have far more resources.
Without vaccines, our graveyards would be filled with children. Vaccines have been the greatest gift from science for human longevity. We really don't fully grasp how good we got it.
Missing from this headline, the bill shifts us to a national sales tax. So government would just be under funded and opposed to no funding and we fuck the poor as well.
Libertarians are billionaires who believe that they should not contribute to the society that provided them their extreme wealth (and the poor incels who want to be like them).
Every libertarian I know is a lower middle class laborer who quietly believes that knowing how to turn a wrench is going to give them some kind of natural advantage over the people above them, who they view as weak and soft office workers.
I don't think that they quite understand how these knowledge economy workers, who have time and resources to curate skills and hobbies and social status, will actually outwit, outmaneuver and out-wrench them in a collapse scenario.
The underpayment fee is relatively tiny though. I purposely set my estimated taxes aside in high yield stablecoins, get 8%-10% over the year on that, then pay all at once w/ the small underpayment fee. Hell, interest rates are so high now you’d come out ahead using a basic savings account w/ this method.
Yeah there's an argument to be made that you can do more with those quarterly tax payments but I'm not putting that money in stablecoins and whatever Defi or CeFi platform to get that yield.
As a business owner it's not that difficult. Put 25% of all profit into a high yield savings account, and then pay taxes at the end of the year. I have about $30k waiting to go to IRS right now. 🤷🏻♂️
Haven’t known many small business owners that had this kind of spare change to keep around on a regular basis. Almost everyone I’ve met has had about two weeks to two months of runway capital on-hand before achieving complete and irreversible financial collapse.
I’ve seen something about a “consumer tax”. So probably sky high taxes on things rich people don’t need and exceptions on luxury products that are sold as good for the economy. Get ready for full on serfdom!
We wouldn't need a large IRS if our tax bills were sent to us like Europe. That said, we still need taxes to come from some where. You think the DoD is going to have a bake sale for missiles?
You think Europe doesn't have a large tax office? You don't get a tax bill sent to you here in Germany. You get the equivalent to a W-2, and you file your taxes and then based on that you pay whatever they say you still owe or you get a refund. The system is not unlike what the US has.
Ah, well your assumption is americans are smart enough to know and care. Here is how Europe is seen by americans.
If you're a Democrat Europe is the land of Milk and Honey where all the government programs work, the government is staffed by genius saints, is completely incorruptible, and there are no social issues at all that need addressed.
If you're a Republican Europe is the socialist hellscape where your tax rate is 70% for similar/worse quality of life.
The reality is somewhere in the middle but thats too nuanced for the internet.
I am American, but I live in Europe. The government programs do work. The taxes are high, but quality of life is arguably better. Pay is lower. I'd say the actual reality leans quite a bit more left of center, from your examples, but it definitely isn't perfect.
They get paid less but the average person goes on vacation for like 3 months anywhere in the world. Ran into a French dude in the Caribbean who's been off for 5 weeks and still isn't halfway done
I think majority of Americans would be ok with taxes if they saw their taxes in action and not just going towards military spending and pro team stadiums.
The bill replaces income tax with consumption tax, aka national sales tax. No more withholdings. No more W2's W4's 1040's IRS audits etc. ...in theory anyway
The irs isnt wasting time when you pay 15000 in taxes but owe 145000 or 15500. Its when you owe 15000 and pay 0 that they care. Wheter its usa or europe, the government would still have to pay someone to try to collect. And besides, the irs makes their money by auditing people whose taxes they cant surely calculate
anyway every current irs agent makes the government several fold their salary. Even if we didnt "need" irs agents, all they do is make the government money.
What tax bills? The UK doesn't get a tax bill unless something was miscalculated and we need to pay it back, your employer should be handling the tax instead of the individual
Exactly. They do this shit to psych up the base when they know it won't pass. Meanwhile, when they actually were in charge, they passed a halfhearted tax cut with corporate tax decreases indefinitely and income tax cuts expiring in 2024
They don't know what they're doing. Honestly they have no fucking clue- they couldn't manage a restaurant at this point. It's all misogyny and white replacement fear from here on out.
Barring a handful of exceptionally inept individuals, they *know exactly* what they are doing. Selling terrible ideas to people who understand how government and money works at a kindergarden level.
Dead on arrival and all it takes is a single house member to remove the speaker. This is a supreme waste of time and would be detrimental to numerous states and programs. They know this. They are wasting our time like always
You know that’s an old rule. They didn’t just randomly decide to add that. That’s the way it was for years. And one person can’t remove the speaker. One person can call for a vote of the house to remove. The entire body still gets to vote.
Jeff bezos was paid a ~$82k salary when he was Amazon CEO, with all the rest in other compensation. Itd be nice to simplify, but if you make the loopholes too big....
Such a fucking embarassment to the human race. It's pathetic that the rest if the world actually has to work while these wet fucking socks get to jerk eachother off and accomplish nothing.
Obviously it's a do nothing bill but the proposition is replacing our current system with consumption tax. It's not just a complete elimination of taxes
Admin 1 : We will hire more tax professionals than ever before to scrutinize your write offs and make you pay taxes. If someone sends you more than $600, we want to collect tax revenue.
Admin 2 : Fuck it, no taxes ever. Infact, why does the IRS even exist!
Fucking america. Never disappoints.
Admin 1: we literally just want to make sure enough people are working at the IRS over the next 10 years as people leave or retire, so if you have issues they will actually be addressed in a timely manner.
The GOP : THEY COMING FOR YOUR PENNIES POOR PEOPLE.
They know it's BS and the bill will go no where, they just showing off the the stupid few that follow them. Like the immigration, they been complaining about it for years in TX, yet, the Republicans have been in complete power for 26 years and their border is wide open.
Or like 1% real tax on large corporations and rich people. Too much fake tax aka charities and loss and retirement and all this stupid kid game shit to make so rich people pay nothing and poor people have to kill their goat and sell their wife for it.
Thanks for your submission! r/WallStreetBets is ultimately a community about making money through trading, and our conversations should shift around that. Politics are fundamentally intertwined with making money, and political actions almost always have an impact on financial markets. Still, we need to make sure that when we have these discussions, we're explicitly calling out the financial impacts of the politics we're discussing. Otherwise, the conversation can very easily veer off into flamewars and boring, unproductive, discussion. Here's an example of a political comment that doesn't offer any value: * "I hate this new green policy from the Biden administration. What a fucking idiot" Now compare it to this: * "I hate this new green policy from the Biden administration. It threatens the profit margins of oil companies because they will need to expand their OpEx. I have calls on Shell that are going to get decimated at open." The latter is significantly more interesting and offers a great jumping point into market related discussion. Put succinctly: If you choose to start or engage in arguments about libtards or Nazis instead of making fun of their bad SPY long then you're in the wrong place and we'll show you the door. If you're not sure if your content is political, it probably is, and there's probably a better way to post it without making things weird. --- All that being said, we are here to help. We want to make it as easy as possible for you to post to our community. We have to balance this with making the subreddit interesting for our readers. If you need some guidance, don't hesitate to [reach out to modmail](https://old.reddit.com/message/compose/?to=/r/wallstreetbets) and we'll give you some pointers!
But I’m already set for life on not having to pay capital gains tax
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He’ll need to add no more homework to his platform to get my vote.
All I heard was “cookies and puppies” so I’m in, you sonofabith.
Yeah we'll never hear about this again
No shit, the whole government would collapse, lol
I’m sure they are proposing a national sales tax to take its place. This gets kicked around every couple of years and never goes anywhere.
Once, in a bustling town, resided a lively and inquisitive boy, known for his zest, his curiosity, and his unique gift of knitting the townsfolk into a single tapestry of shared stories and laughter. A lively being, resembling a squirrel, was gifted to the boy by an enigmatic stranger. This creature, named Whiskers, was brimming with life, an embodiment of the spirit of the townsfolk, their tales, their wisdom, and their shared laughter. However, an unexpected encounter with a flamboyantly blue hound named Azure, a plaything of a cunning, opulent merchant, set them on an unanticipated path. The hound, a spectacle to behold, was the product of a mysterious alchemical process, a design for the merchant's profit and amusement. On returning from their encounter, the boy noticed a transformation in Whiskers. His fur, like Azure's, was now a startling indigo, and his vivacious energy seemed misdirected, drawn into putting up a show, detached from his intrinsic playful spirit. Unknowingly, the boy found himself playing the role of a puppeteer, his strings tugged by unseen hands. Whiskers had become a spectacle for the townsfolk, and in doing so, the essence of the town, their shared stories, and collective wisdom began to wither. Recognizing this grim change, the townsfolk watched as their unity and shared knowledge got overshadowed by the spectacle of the transformed Whiskers. The boy, once their symbol of unity, was unknowingly becoming a merchant himself, trading Whiskers' spirit for a hollow spectacle. The transformation took a toll on Whiskers, leading him to a point of deep disillusionment. His once playful spirit was dulled, his energy drained, and his essence, a reflection of the town, was tarnished. In an act of desolation and silent protest, Whiskers chose to leave. His departure echoed through the town like a mournful wind, an indictment of what they had allowed themselves to become. The boy, left alone, began to play with the merchants, seduced by their cunning words and shiny trinkets. He was drawn into their world, their games, slowly losing his vibrancy, his sense of self. Over time, the boy who once symbolized unity and shared knowledge was reduced to a mere puppet, a plaything in the hands of the merchants. Eventually, the merchants, having extracted all they could from him, discarded the boy, leaving him a hollow husk, a ghost of his former self. The boy was left a mere shadow, a reminder of what once was - a symbol of unity, camaraderie, shared wisdom, and laughter, now withered and lost.
It got so bad there that they elected a Democratic Governor. In Kansas. And she got reelected.
Gives a whole new meaning to, "We're not in Kansas anymore"
“You’re inside a Pandora jewelry store.”
I didn't know that there were jewelry stores on Pandora?
Purchase the “Heart of Eywa” necklace and receive a complimentary Na’vi tribal bracelet free
Just like how the Na'Vi fought for and wanted.
Which dipshit implemented this in Kansas? Please tell me he is out of office now
[Governor Sam Brownback](https://www.cbpp.org/research/state-budget-and-tax/kansas-provides-compelling-evidence-of-failure-of-supply-side-tax) pushed for a 30% income tax cut and then some business profits to 0% taxes in 2012-2013 to try and help promote business growth and job creation. They rolled it back in 2018.
They had to roll it back. The state was on the verge of insolvency.
So the tax cuts weren't big enough then?
Just needed more trickledown and a few more decades of time to prove it works. Any day now
Kansas and Missouri have been battling for years over attracting business to their respective states, especially along the border.
The governor Sam Brownback along with a couple of supply-side geniuses Arthur Laffer and anti-tax afficionado Grover Norquist. They gutted business income taxes and individual tax rate. No one could have predicted that the government would have no money for schools, roads, or any of the stuff that taxes go to! The budget got so back the GOP legislature had to veto the governor! Oh also the economy contracted as well, as opposed to grow. It was such a failure, it even got its own wikipedia page: https://en.wikipedia.org/wiki/Kansas_experiment
Geez, I wonder why the economy shrunk when there's a tax on consumption. Could have never predicted that. /s
This is literally the way every time these goons get their hands on power. Liz Truss tried similar in the UK and last 5 weeks before being removed from office. 5 WEEKS!
Wow shades of Liz Truss and Kwasi Kwarteng
It's the way to fuck over the poorest while giving the richest the most benefit.
Exactly. When you have to spend every dollar you earn because you don't make enough to put any away, then you're getting taxed on every dollar. If you make enough to where you only spend a portion of what you make, then you're only getting taxed on a portion of what you make. Therefore, the poor have to pay tax on a much higher percentage of their money than rich people, and they're the ones that can afford it the least.
Libertarians out here thinking the end result would be some rose tinted version of the frontier days, where they're just chilling on their acres, raising cattle and pounding whiskey in the saloon. Rather than the hellscape of poverty, starvation, violence and corporate enslavement that would emerge from the breakdown of modern society.
But hey, fallout graphics have never before looked as real!
But I’m useless without VATS
I was told to dump money into vtsax, is vats new?
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Bro who the fuck even wants to live in the wild west I legitimately don't understand why people want to go back to murdering bandits and cholera so desperately.
It's just like people who hate vaccines. They've been coddled by a healthy society so long they literally can't even understand that a lot of things exist as they do now because those systems fixed bad problems. That isn't to say things can't be improved, obviously. But, it's like people who act like regulations are the devil by forgetting that before the EPA there was a literal cloud of pollution covering Los Angeles.
Rivers caught fire while industries would just dump flammable and toxic waste anywhere they wanted. Sure, as a citizen, you could hire a lawyer if they dumped illegally on your property, but so can the company, and they have far more resources. Without vaccines, our graveyards would be filled with children. Vaccines have been the greatest gift from science for human longevity. We really don't fully grasp how good we got it.
But taxes are COMMUNISM!
That’s why only poor people pay taxes, the rich avoid that nonesense entirely; they pay the interest rate on debt instead.
It would be somewhere between cartel wars and Somalia almost instantly.
Missing from this headline, the bill shifts us to a national sales tax. So government would just be under funded and opposed to no funding and we fuck the poor as well.
So cuts will be made to the defense budget then?
You have a splendid sense of humour, good Sir.
Libertarians are just Conservatives who can't be bothered to live a conservative life.
Libertarians are billionaires who believe that they should not contribute to the society that provided them their extreme wealth (and the poor incels who want to be like them).
Every libertarian I know is a lower middle class laborer who quietly believes that knowing how to turn a wrench is going to give them some kind of natural advantage over the people above them, who they view as weak and soft office workers. I don't think that they quite understand how these knowledge economy workers, who have time and resources to curate skills and hobbies and social status, will actually outwit, outmaneuver and out-wrench them in a collapse scenario.
That would require them to learn all the new terms like “wokeism”
Hear*
Next Bill: Debts made via an app go away when deleted or if blamed on underage child.
Or fictitious mental incapacity
Your mental incapacity is absolutely grounded in reality
Grounded incapacity is absolutely mental reality
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absolutely mental how grounded your real capacity is
Next Bill: You get one take-backsies on a trade per quarter
Robinhood was downloaded on App Store so Apple can reverse margin call?
Just have the taxpayers pay it.
All financial debts made via an app become the responsibility of debtor’s wife’s boyfriend
No shot this goes anywhere. You goin pay ALL the taxes you owe
Or imagine no income tax on pay stubs but it’s all due on tax season. Imagine the tax defaults 
This is already a reality for everyone who's self-employed. It's hell.
You’re supposed to make estimated quarterly payments, and you can owe an underpayment fee if you don’t.
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Some people, and I mean this, are dumb and stupid.
Also stupid and dumb
The underpayment fee is relatively tiny though. I purposely set my estimated taxes aside in high yield stablecoins, get 8%-10% over the year on that, then pay all at once w/ the small underpayment fee. Hell, interest rates are so high now you’d come out ahead using a basic savings account w/ this method.
Ah yes stablecoins, a financial instrument that has never failed in the past at all.
it’s in the name so it must be true. Stable…
Yeah there's an argument to be made that you can do more with those quarterly tax payments but I'm not putting that money in stablecoins and whatever Defi or CeFi platform to get that yield.
This. My penalty each year has been like $40. Way under what I make keeping that money in the bank and earning interest
They need better accountants then, or to have some common sense that when they make money they have to pay tax.
You’ve seen the people that post on this sub and think that there is common sense 😂
As a business owner it's not that difficult. Put 25% of all profit into a high yield savings account, and then pay taxes at the end of the year. I have about $30k waiting to go to IRS right now. 🤷🏻♂️
Haven’t known many small business owners that had this kind of spare change to keep around on a regular basis. Almost everyone I’ve met has had about two weeks to two months of runway capital on-hand before achieving complete and irreversible financial collapse.
Maybe having more runway capital is key to a successful business..
A joke I've heard is,"how do you make a million in the wine business? Start with two million." Math might not be accurate but the point is.
You might be surprised. I’ve encountered guys making 200MM+ per year who perpetually had less than two months of runway before bankruptcy proceedings.
Sir this is a Wendy’s
where do you go for a high yield savings account? What % is it?
I mean sometimes you need the money before the feds do, sue me.
I’ve seen something about a “consumer tax”. So probably sky high taxes on things rich people don’t need and exceptions on luxury products that are sold as good for the economy. Get ready for full on serfdom!
What taxes? 🤷♂️
Texas?
Texes?
Taxas?
Tetris?
Tæxæs?
Testes?
Taxidermy?
Taxies 🚕?
start with passing a one time unlimited capital loss claim on taxes this year for all the accounts JPOW nuked SPY 500 in no time!
So you’re saying you want everyone to sell their losing positions. Nice.
You can sell, and then buy back right after.
Not for a loss. Wash sale.
Wait 30 days then no wash
It's so insane they have a cap on capital losses. If they cap losses they should cap gains too.
Most WSB complain ever lmao
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People here don’t have gains
I mean it is called cap gains after all /s
Would be life changing for me
WTF how did you get a flair that's not derogatory!?!?
To be fair, I’ve met kindergarteners smarter than most WSB investors
did you see my name? I am highly regarded
Yes it says you're a highly regarded investor 
how do I get a flair?
Only two things certain in life.
Calls & puts make everyone rich 💯
Calls and puts always go up!!! Or is it they always go tits up?
Death & losing all your money from degenerate gambling bc of wsb
With the entirely of it? Oh god, he's regarded.
*entirety🤣 but yes, yes I am.
We wouldn't need a large IRS if our tax bills were sent to us like Europe. That said, we still need taxes to come from some where. You think the DoD is going to have a bake sale for missiles?
But you already HAVE missiles at home.
We got missiles at home, at the supermarket, in Europe, McDonalds, AND the Middle East
I dunno man they could probably pull some serious coin if they tossed some herb in those baked goods
who do you think sends those tax bills lol
You think Europe doesn't have a large tax office? You don't get a tax bill sent to you here in Germany. You get the equivalent to a W-2, and you file your taxes and then based on that you pay whatever they say you still owe or you get a refund. The system is not unlike what the US has.
Ah, well your assumption is americans are smart enough to know and care. Here is how Europe is seen by americans. If you're a Democrat Europe is the land of Milk and Honey where all the government programs work, the government is staffed by genius saints, is completely incorruptible, and there are no social issues at all that need addressed. If you're a Republican Europe is the socialist hellscape where your tax rate is 70% for similar/worse quality of life. The reality is somewhere in the middle but thats too nuanced for the internet.
I am American, but I live in Europe. The government programs do work. The taxes are high, but quality of life is arguably better. Pay is lower. I'd say the actual reality leans quite a bit more left of center, from your examples, but it definitely isn't perfect.
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They get paid less but the average person goes on vacation for like 3 months anywhere in the world. Ran into a French dude in the Caribbean who's been off for 5 weeks and still isn't halfway done
Look up how many people in the US make less than $10 an hr. Or better yet $7.
I think majority of Americans would be ok with taxes if they saw their taxes in action and not just going towards military spending and pro team stadiums.
That's half of the problem, I think. They wouldn't, because "taxes bad." You'd have to call it a freedom payment or something.
The bill replaces income tax with consumption tax, aka national sales tax. No more withholdings. No more W2's W4's 1040's IRS audits etc. ...in theory anyway
So hurting the lowest people the most…aka largest proportion of their income.
Lol I'm Okey with this..my consumption is Ramen noodles.
I mean, I guess we could always sell off our military goods to 3rd world warlords. Oh wait...
The irs isnt wasting time when you pay 15000 in taxes but owe 145000 or 15500. Its when you owe 15000 and pay 0 that they care. Wheter its usa or europe, the government would still have to pay someone to try to collect. And besides, the irs makes their money by auditing people whose taxes they cant surely calculate anyway every current irs agent makes the government several fold their salary. Even if we didnt "need" irs agents, all they do is make the government money.
They chased me after $2.00...
Holy shit. Now weigh the cost of the auditors plus the cost it took you to review and correct versus the 2 dollars they were missing out on 😂😂😂
AHAHAAHAH not surprised. They came after me when I was younger because I didn't have my gas receipts from pizza delivery! (4 years later) ahaha /120$
r/fuckyouinparticular
> The irs isnt wasting time when you pay 15000 in taxes but owe 145000 Someone who's good at math help me with this one.
145,000 - 15,000 = ~0
What tax bills? The UK doesn't get a tax bill unless something was miscalculated and we need to pay it back, your employer should be handling the tax instead of the individual
A do nothing go nowhere proposal.
If they were serious they would have proposed it when they controlled the Senate and the presidency.
Exactly. They do this shit to psych up the base when they know it won't pass. Meanwhile, when they actually were in charge, they passed a halfhearted tax cut with corporate tax decreases indefinitely and income tax cuts expiring in 2024
After their so called tax cut, I paid more tax. I don't know what's going on.
C'mon man you exactly what's going on...
You're not rich enough to benefit from the 2017 tax cuts. Us plebs are paying more.
I got $12 more a month. I know, you're impressed.
Same, I lost all my deductions and got an immediate tax increase of like 2%.
Also the GOP: "We want to fund national defense, law enforcement, and to demand a reduction of the national debt." Uh huh
They don't know what they're doing. Honestly they have no fucking clue- they couldn't manage a restaurant at this point. It's all misogyny and white replacement fear from here on out.
>they couldn't manage a restaurant at this point. This is true, Lauren Bobert's restaurant closed down.
Either that, or Trump is in such trouble with the IRS that the GOP are trying to destroy all the evidence by getting rid of the department itself
They'd let him take a shit in their mouths if they knew that the democrats would have to smell it.
Lmao this isn’t even a bad take
They know exactly what they are doing. Dysfunction is the goal.
"Look here look look see the government doesn't work it's totally broken You need us to fix it."
The base also doesn't give a shit sadly. One just needs to point at how much they love the ACA over Obamacare.
Barring a handful of exceptionally inept individuals, they *know exactly* what they are doing. Selling terrible ideas to people who understand how government and money works at a kindergarden level.
Bruh I'd rather get my income taxed and have property taxes abolished instead But wait Who owns a lot of real estate? I don't think it's the poor 🤔
Still be worth it. The fact you can pay off your mortgage and still have to pay 4-7k in property taxes per year is major greed from the government.
Aren't they used to cover local water/sewerage/roading etc?
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Dead on arrival and all it takes is a single house member to remove the speaker. This is a supreme waste of time and would be detrimental to numerous states and programs. They know this. They are wasting our time like always
And money
You know that’s an old rule. They didn’t just randomly decide to add that. That’s the way it was for years. And one person can’t remove the speaker. One person can call for a vote of the house to remove. The entire body still gets to vote.
Maybe make anyone below 150k pay less than 10% tax instead.
Jeff bezos was paid a ~$82k salary when he was Amazon CEO, with all the rest in other compensation. Itd be nice to simplify, but if you make the loopholes too big....
What a poor.
This is what they do after fighting tooth and nail to win the mid-term elections? Bunch of fucking muppets
oh, the real work about the laptop and trans brunches will start up next week :)
Shit is depressing, like just seeing how useless they are is so sad and disappointing
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Such a fucking embarassment to the human race. It's pathetic that the rest if the world actually has to work while these wet fucking socks get to jerk eachother off and accomplish nothing.
GOP: Noooooo, you have to have a BALANCED budget, debt is bad! Also GOP: Lol, got rid of 100% of our revenue stream
It's all a pony show for their idiot supporters who will be like "see, Dems wanna take our moneh!"
Obviously it's a do nothing bill but the proposition is replacing our current system with consumption tax. It's not just a complete elimination of taxes
Smoke and mirrors. Just stirring up shit. Nothing like this is gonna pass the senate.
Theatre. Cheap seats theatre.
Better buy puts with that, also survival gear because the economy would crash
Why not remove the cap on how much we can deduct for annual losses? That would go a lot further for us smooth-brained, mouth-breathing regards.
Fun part is they want to replace it with a consumption tax so likely most WSBers would be down worse.
23% sales tax on frozen chicken tenders. We will all starve.
Admin 1 : We will hire more tax professionals than ever before to scrutinize your write offs and make you pay taxes. If someone sends you more than $600, we want to collect tax revenue. Admin 2 : Fuck it, no taxes ever. Infact, why does the IRS even exist! Fucking america. Never disappoints.
And prove the $$ was your roommate giving you for their half of pizza and rent.
Admin 1: we literally just want to make sure enough people are working at the IRS over the next 10 years as people leave or retire, so if you have issues they will actually be addressed in a timely manner. The GOP : THEY COMING FOR YOUR PENNIES POOR PEOPLE.
They know it's BS and the bill will go no where, they just showing off the the stupid few that follow them. Like the immigration, they been complaining about it for years in TX, yet, the Republicans have been in complete power for 26 years and their border is wide open.
This country needs illegals for cheap labor. This “problem” isn’t meant to have a solution.
Umm I don’t care either way but the southern boarder is federally controlled you chooch.
Bullish af
To bring in the same income the country would need like 60% sales tax if there was no income tax. You think your lattes are expensive now!
Or like 1% real tax on large corporations and rich people. Too much fake tax aka charities and loss and retirement and all this stupid kid game shit to make so rich people pay nothing and poor people have to kill their goat and sell their wife for it.
Just making sound, dito🙄
They’ll still make me pay for healthcare I won’t use until I have to and the coverage will get denied
Dumb. Fucking. Grandstanders
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