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Seasteading Aficionado
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I want to see some people prosecuted.
Neeeeeeeeeeeever going to happen. Somehow, no one did anything wrong, yet still 'certain organizations' received unfair treatment that necessitates a settlement and apology from the IRS who, as stated, did nothing wrong.
 

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Have the DOJ sue Lois Lerner to strip her of Qualified Immunity, then let the plaintiffs' sue her out of all the speaking fees the left is going to shower her with as a reward for a job well done.
 

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Have the DOJ sue Lois Lerner to strip her of Qualified Immunity, then let the plaintiffs' sue her out of all the speaking fees the left is going to shower her with as a reward for a job well done.
Good luck with that happening. I wish it would, but that would give me hope and they won't allow that to happen.
 

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The truth is, the ONLY bad thing about the IRS conservative targeting political action groups for audits is the selection of anti-Obama, anti-Democrat groups.

If the IRS would do the same thing to leftist groups, challenging many of their B.S. assertions that they're nonprofits that operate for the public good, I'd be OK with that.

I'd be even happier if ALL organizations and businesses, and individuals, were taxed the same, no matter how you spent your money or what you do for a living.

You earn $60,000 a year as a stripper at the Gold Club? You pay 25% in tax.
But you gave $40K to the church, and the orphanage? Great. You're so kind. That was YOUR money you gave away, no our public money. The government won't reduce your taxes to subsidize that giving.

Oh, you say you had business losses of $10K from deadbeat customers who ordered lap dances with happy ending finish and then DID NOT pay?? So sorry to hear. Pay your taxes anyway. 25% of your gross income. Period. No excuses. Sue the cheap bastards who stiffed you, if you want, but you don't get a tax break.
 

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25% is the current rate for that income.

https://taxfoundation.org/2017-tax-brackets/

But eliminating deductions and credits would have the effect of people having higher TAXABLE incomes.

Ok, so reduce the rate to make the effect revenue-neutral to the treasury.
 

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Seasteading Aficionado
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Yeah, somehow the government taking 55% of most successful peoples income is not theft.

That's about what the average person who is successful pays out once you add all taxes paid up, including all hidden taxes on goods we buy.

It's all worth it though, for muh roadz.
 

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If I were to entertain the contradictory idea of a "fair" tax, it would seem to me that the most "fair" tax would be for everyone to pay the same dollar amount - not percentage - regardless of income. Make $150k? You owe a flat $10k. Make $25k? You owe a flat $10k.
 

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Oh, you say you had business losses of $10K from deadbeat customers who ordered lap dances with happy ending finish and then DID NOT pay?? So sorry to hear. Pay your taxes anyway. 25% of your gross income. Period. No excuses. Sue the cheap bastards who stiffed you, if you want, but you don't get a tax break.
So you want to tax people for income not actually earned*? Disallow people from offsetting business gains with losses? Why don't we just cut through all the pretenses and go back to having kings tell us what to pay and what we may own.

* I have on my desk an authorization to pay $12,500,000 for the legal advice you've given me over the years. You'll be adding that to your gross income this year, right? Of course, I won't be paying. But good luck suing me while you're busy in court with the IRS trying to stay out of jail for not paying taxes on your newly acquired "income"...
 

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Such great authoritarian ideas here.
 

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So you want to tax people for income not actually earned*? Disallow people from offsetting business gains with losses? ....
Well, perhaps I chose a bad example. It seems obvious and fair enough that if, in the course of the normal business you engage and, and doing the kinds of services you normally provide, you should be able to use a loss to offset some gains in the final calculation of your income.

What I don't want to see are business intentionally losing money (or appearing to, on paper) to avoid paying taxes, while helping other related businesses or enriching their friends and family with these failed transactions.

If a provision in the law invites abuse, close it. End it.

I could go along with NOT giving any consideration to losses. If you don't actually receive the money, it's not income. But if you spent time, or money, expecting to get compensated and you don't, too bad. Sue the bastid, but don't expect the IRS to compensate you by giving you a credit against your income for some other transaction where you did get paid.

You earned $12 million in a year and chose to give most of it to an orphanage and the Peace Corps? Great. Remember that was YOUR money you gave away.
You earned 12 million and spent it all on junk food, recreational drugs, gambling, and hosting orgies on your yacht? That's your choice. Your money was taxed the same way.
 

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Anyhow, the point is that plenty of anti-Obama, anti-Democrat political lobbying groups were formed under false pretenses as 501(c)(3) charities, when they were clearly NOT about charitable, religious, educational, scientific, or literary purposes.
They were political, and targeted specific races to support one candidate over another, in addition to generally supporting the planks of one party while opposing the planks on the platform of the other party.

How about just eliminate 501(c)(3) status entirely and tax all foundations, corporations, partnerships, and other organizations the same, whether they sell diamonds or distribute condoms, whether they serve the private-jet-and-caviar class or the Dollar General, trailer-dwelling class?
 

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If a provision in the law invites abuse, close it. End it.
Well, there goes the law. Never pegged you for an anarchist...

I could go along with NOT giving any consideration to losses. If you don't actually receive the money, it's not income. But if you spent time, or money, expecting to get compensated and you don't, too bad. Sue the bastid, but don't expect the IRS to compensate you by giving you a credit against your income for some other transaction where you did get paid.
I dont understand what you are talking about. Losses offset revenue. To claim the loss you would have to claim income you didn't receive, resulting in a wash. Unrealized gains/losses do not factor into taxes.

If you wanna talk about screw jobs, I once paid more in taxes than I made in income.
 
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