The IRS came after me over the taxes for a couple of grand on a repossessed car that I never got the paperwork on. Apparently I should have just made a few million and not filed at all rather than losing everything I had.
So your argument here is they shouldn’t go after those people now? No, I get you’re annoyed that you got fucked in relation to these fucks, but this is a step in the right direction right?
No, that’s not at all what I’m saying. I’m saying that I was so broke that my car was repossessed and the IRS sees that as me making money. So they billed someone who had literally nothing to their name at the time. Yet due to shit funding they can’t go after millionaires who don’t even fucking file who should be their highest priority because that would bring in both more money for public good and more money for the IRS to go after the bigger fish rather than penny ante bullshit.
I agree. They need to be properly funded to go after the rich assholes hiding behind lawyers. The recent funding is a good thing IMHO. Because otherwise the norm is to continue targeting folks like you.
The issue is these people can afford accountants and other people to draw out and hinder the process. Poor people just have to pay or be held accountable. That’s why low IRS funding hurts poor people and high funding hurts rich people. If they’ve got the money, they can go after the wealthy and, in turn, get even more money from them than they spent to get it.
Oh come on buddy… It hasn’t trickled down because they haven’t paid their fair share yet! Doubtless the cheque is in the mail and it just got lost for a few years or something; it’ll all start trickling down in no time don’t you worry!!
The super-rich don’t get much of their income from wages, where there is withholding of a bit more than you’re likely to owe if the wages are your only income. They get it from interest, dividends, and running a business. There is usually not withholding for those, so they’re supposed to make quarterly payments. But the Republicans cut IRS funding years ago, so it didn’t have the resources to go after them if they just stopped paying. So a lot did just that.
People living anywhere less than 10 million aren’t generally living off of dividends though either. Switching to that too soon is a common mistake many of the “merely rich” make.
Sure, but they’re talking about people with income of more than 1 million. If they’re living off interest and dividends, they’ve probably got something in the realm of $30-75 million in assets.
If you’re getting a refund, it’s means you’ve been over paying and giving Uncle Sam an interest free loan.
I haven’t gotten a (federal) refund in years. Every year I pay at tax time, so that money is sitting in my savings account for the year gaining interest rather sitting in the governments account gaining interest. We aren’t talking a ton of money, but it’s the type of game I can’t help but play if it’s available.
For the record, if your taxes are higher than a certain number you have to pay it every quarter, otherwise you will owe interest on it at the end of the year. So what EatATaco said is mostly true.
Actual CPA here, you’ll owe an underpayment of estimated tax penalty if you don’t pay in at least the lesser of 90% of current year/100% of prior year (110% if AGI >$150K) tax. The penalty is based on the Federal short term rate and prorated based on amount underpaid and time outstanding (i.e. Q1 is overdue for the whole year but only 1/4 of the underpayment, Q4 is the whole amount but only late by one quarter). When all is said and done, it usually works out to like 2% and we have plenty of clients that would rather hold the cash and pay the penalty because it’s generally cheaper than borrowing, or they figure they can get a greater rate of return by interesting it (depending on their situation/perspective).
If you miss April 15th it goes to credit card rates though (failure to pay penalty, which is very different from underpayment of estimated tax). Don’t do that. Remember: an extension is for time to file, not time to pay.
Obvious the rich didn’t pay tax at all, evade the most time possible to paid it or use tricks to pay the most less posible, it’s a classic, the middle and low class are the ones which pay the majority of tax and in time, it’s the way capitalism work.
The funny thing it’s how some people are proud of paying tax while the rich didn’t pay a fuck LMAO.
The Republicans have long had a strategy of requiring the IRS to heavily audit use of the earned income tax credit for the poor, while starving it for resources, so that it couldn’t audit the richest.
The Inflation Reduction Act the Democrats passed a couple years back gave the IRS money to actually go after the wealthy, which is what we’re seeing here.
The Democrats are a coalition, and not every coalition member is on board with downward redistribution, but a big chunk are, and it has a history of showing in the policies they implement.
The main point of a fascist regime it’s it didn’t look like a fascist regime at all, that’s why it’s so important for the 1% who control the regime to keep the illusion of choice, people will keep having hope(having hope it’s important for the human nature) of a better future at both sides(left and right) but the reality it’s the system will be working for the 1% behind the curtains.
Both parties will keep “working” in different directions in apparience while the elite agenda it’s slowly pushed thought the population distracted by the illusion of choice.
You look it from the point of the illusion of choice, the fact it’s there is no choice.
Let me put it this way:
Imagine that the world is a chess board, left and right are the pieces on the board (politicians), the colors are the ideologies (right or left, white or black, good or bad), apparently that’s all what is there but you are forgetting the most important thing, Who invented the rules of the game? Who made the board and the pieces? Who sold you that game as something you need and how much did you pay for it?
The people behind the curtains are experts in mass manipulation, they are experts in distracting the population and creating the illusion of choice, in fact they don’t even have to be in the public eye and be famous for that. it’s the last thing they want.
They control the intelligence agencies around the world and the largest technology companies today, they have specialists analyzing the data collected from people’s use of the Internet, they control the mass media as well as the social networks that most people use.
Do you really think that the most powerful person in the world is the president of the United States? That only happens in movies.
Then don’t even try bro. Don’t vote, don’t work on campaigns. Hey don’t even go on forums to talk about how fucked the system is. Because it’s all fucked. Just don’t. That’s your motto here.
It’s kind of ironic how you give an example of black and white, with no grey area, and then immediately demonstrate black and white thinking,
Are there some politicians who solely work as a paid agents of billionaire lobbyist groups? Sure.
Do all politicians work together harmoniously with the sole purpose of capitulating to some unnamed ‘they’? Unlikely.
Are both sides the same? Demonstrably not.
The truth is that the world is complex and there are a lot of moving parts. There is no unified force ‘behind the curtain’. Any conspiracy as large as you suggest requires too many people to be ‘in on it’ and working together.
The Inflation Reduction Act the Democrats passed a couple years back gave the IRS money to actually go after the wealthy, which is what we’re seeing here.
And of course the goddamn scum of the earth propagandists screamed “the Democrats are funding the IRS to COME AFTER YOU!!” And we now have a talking point about how the IRS needs to be defunded to “protect the little guy.” It’s so disgusting… I hate these people so much.
Every story we’ve seen on the news in the last 50 years about an “overzealous IRS harrassing the little guy” has been complete bullshit propped up by conservatives and their capitalist buddies.
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