Drudge Retort: The Other Side of the News

Drudge Retort

User Info

Danforth

Subscribe to Danforth's blog Subscribe

Menu

Special Features

Monday, December 16, 2019

Donald J. Trump and three of his children, Don Jr, Eric, and Ivanka, have admitted "misappropriating" over $2 million raised for Veterans and a Childrens' Charity. As part of the agreement, Trump's children must take court-ordered training on how charitable funds must be treated. read more


Friday, November 22, 2019

California is set to change its employment law. If you want to hire a bass player to play your gig for $100 you have to put that bassist on payroll, pay unemployment taxes, provide benefits, follow labor laws, get workers compensation insurance, deduct taxes, work with a payroll company, W-2 that bassist as they now legally will be designated your employee. FOR ONE GIG.


Friday, November 15, 2019

Americans owe a cumulative $131 billion in unpaid taxes, enough to completely fund the Department of Education for two years. The bulk of that money is owed by the wealthiest people in the country, yet the IRS isn't attempting to collect it from them. Instead, as IRS Commissioner Charles Rettig confirmed in a letter to Congress recently, the agency literally can't afford to audit the rich, so it's pursuing the poor instead. read more


Comments

"BUT real 'taxpayers', and not the 47% who pay NO income tax..."

Your claim is intellectually dishonest. Other government spending systems have been incorporated into what used to be just an income tax return, and now it covers income tax, child-raising subsidies (CTC, ACTC, CCTC), education subsidies (AOC, LLC), and welfare (EITC). The real reason the number "paying NO income tax" has risen is NOT due to more lazy people; it's due to these all these initiatives folded into the income tax return, which spiked the percentage each time.

Look at kid-subsidies. The Child Tax Credit started at $400/child, then $500, then it doubled, then doubled again. Now, it's $2000/child. Oh, and the income caps for claiming the credit? They skyrocketed over 160% in the new tax code. Even child care gets subsidized though the income tax code, and welfare is almost exclusively kid-based.

Look at education: Up to $2500 can be subtracted from your income tax balance per college kid, per year. (BTW, This merely pretends to help the taxpayer, since they'd be better off if costs were $2500 lower to start.) But this takes people off the "income tax" roles.

Look at welfare: Let's say, when you were a kid, the neighbors filed their tax return and had a liability of $1000, which is exactly what they had withheld on their W-2s. Because they had four kids and didn't make a lot of money, they got $1200 that year in welfare via the welfare bureaucracy. Did that family pay income tax?. Back then, they did. Now, it's counted as they don't, because two different systems---income tax and welfare---have been put on the same income tax form. BTW...to qualify for the EITC, you've got to have kids; otherwise you've got to be making four figures as a single person, just to get a few hundred bucks in EITC.

Ultimately, the equation's designers purposely want to shove every possible benefit into the 1040. They could send a check to every mommy & daddy separately, they could have Universities disburse the AOC, they could send out monthly welfare checks like they used to....but that would make their talking point less dramatic, wouldn't it?

"I'm stupid because of an Internet goof that can say whatever that's unverifiable? "

It's easily verifiable, dumbschitt.
www.irs.gov

That took all of ten seconds to find, less time than it took you to post. You're stupid because you're stupid.

Drudge Retort
 

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2020 World Readable