Why does GOP want to protect tax cheats?
Riddle me this, Batman:
If it’s pointed out that a family of four making $40,000 a year pays no federal income taxes, many conservatives tend to get upset that the family isn’t paying their fair share like the rest of us.
On the other hand, if it’s pointed out that a multi-millionaire or billionaire pays no federal income tax, the reaction is to applaud his or her accountant for successfully cheating the government.
If a corporation is reported to have avoided paying corporate taxes, the reaction is again applause, under the thesis that corporations shouldn’t have to pay taxes anyway.
But if that corporation in question is General Electric, its ability to pay little or no taxes is cited as an outrageous scandal that must be addressed and investigated. (By the way, the company just announced a 77 percent increase in first quarter profits.)
And of course, as part of its demands to end the budget standoff earlier this month, the GOP demanded and got $600 million in cuts from the IRS budget. As John Berry in the Fiscal Times noted in March:
IRS Commissioner Douglas Shulman told a House subcommittee last week that such a budget cut over just six months likely would reduce federal revenues by $4 billion. The IRS “would need to make substantial cuts to its enforcement programs,” he said.
In other words, cut spending by $600 million, lose $4 billion in revenue and add $3.4 billion to the deficit
Of course, that’s $3.4 billion in revenue over six months that the government is already owed, under existing tax law. The GOP is in effect protecting criminals, pulling cops off the beat to ensure that those breaking the law are not caught. And remember, the money not paid by scofflaws must be paid by somebody else. Back in 2001, the most recent year for which estimates are available, almost $300 billion in taxes owed went uncollected.
But again, if the people owing those taxes are poor or middle class, that is presumably a scandal. If the people owing those taxes are affluent business people, they are heroic Americans.
At least, if I understand these things correctly …
– Jay Bookman
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417 comments Add your comment
RGB
April 21st, 2011
10:51 pm
Libs have no ideas other than calling everyone a liar.
Means you lost the argument.
“A speech is not a plan”. Say it with me–better yet, put in on your TelePrompTer.
Doggone/GA
April 21st, 2011
10:51 pm
“And please spare me big oil, big pharma, Halliburton, George Bush, Koch brothers, the evil rich–they aren’t budget items”
Subsidies ARE budget items. Every penny the government spends – or “spends” by not collecting is a budget item.
Personally, I would reduce pretty much everything by 10%, except the DOD. THAT I would reduce by 25%
getalife
April 21st, 2011
10:51 pm
We don’t discuss politics with liars here rgb.
Message from Matti
April 21st, 2011
10:52 pm
RGB,
Yes. I would reduce the “Defense Contractor” jobs program.
Doggone/GA
April 21st, 2011
10:53 pm
“Libs have no ideas other than calling everyone a liar.”
Only when they lie
@@
April 21st, 2011
10:53 pm
Joe Mama:
BTW, kindly come back to this thread and explain your charge of bigotry from earlier this week
I’m not in the habit of repeating myself. I leave that to folks like AmVet, who does it so often, it’s become monotonous.
You were on the previous thread with long-winded posts that were centered on racism. I came in with a piece regarding school choice, adding to that I submitted an article where Hispanic and Black leaders were calling for school choice.
You brought up subsidies. Actually, the money is already being paid in. If it’s a failing school from which the minority children aren’t benefiting, they should have the choice of taking that money elsewhere. It would be the parents who make up the difference in cost. It’ll serve the children and society as a whole in the long term.
Share “the love”, or at the very least, let it follow the child.
I would say you’re a cold-hearted Republican but we’re for school choice. And besides, I already know from your little drama earlier than you’re a “disheartened” Rep turned Dem.
Oh whoa is you!!!! My heart was breaking.
TaxPayer
April 21st, 2011
10:55 pm
good little con,
present your data from whatever source you want on the Ryan plan. I’ll take you on. Pull up the Heritage Foundation report that Ryan based his work on. Bring it on.
a reader
April 21st, 2011
10:55 pm
dying schmying. evolving. those of us reading press are here today. those of us evolving are here tomorrow. (but, and yesterday [for the believers]). politics is like 2 – team sports. winner v loser. the current bout’s outcome bases it stakes on events recent – and loud mouths – and i’m stickin with my team.
stats reveal that the swarm is over here now. now it’s over there.
shout louder and say more stupid things. get it all out.
a voice is a voice is a voice
Jefferson
April 21st, 2011
10:56 pm
md, what about those unable to make good choices, you know say easily fooled? Piss on em’?
Cloudodust
April 21st, 2011
10:56 pm
We recently rec’d a notice we owed the IRS 13,000 in tax, penalities and interest on a 7,000 tax libility from tax year 2005. The only problem is the IRS cashed our personal check for the 7,000 in April 2006 and they missed it somehow. Who gets the burden of proof to gather the necessary paperwork plus a trip to the bank to dust off the archives and retrieve a cx’ed check..? We do, and did. We hope they’re gonna be satisfied
RGB
April 21st, 2011
10:56 pm
“Let’s take another trillion of that [money] that we raise through a reform in the tax system,” Obama said at Facebook headquarters, “that allows people like me — and, frankly, you, Mark — for paying a little more in taxes.” “I’m cool with that,” deadpanned Zuckerberg, whose fortune is estimated at close to $15 billion, as the audience laughed appreciatively. “I know you’re okay with that,” the president shot back.
Pure genius. Steel trap mind. Entrepreneurial wunderkind that Obama.
RW-(the original)
April 21st, 2011
10:56 pm
Now we know why they play an alleged sport where you don’t use your hands for much.
Message from Matti
April 21st, 2011
10:58 pm
…. not that I’m totally against jobs programs, per se. But why are we paying people to build us airplanes that we do not use? Why not pay them to build something we DO need, like uh… bridges, roads, and levees? The more sciency-guys over at Lockheed could spend their time putting us at the TOP of the green-energy initiatives, and build something that we could use AND sell to other countries. You know, like how Americand did it when we were prosperous, before we became mindless mass consumers of Chinese-made garbage.
Doggone/GA
April 21st, 2011
10:59 pm
“We recently rec’d a notice we owed the IRS 13,000 in tax, penalities and interest on a 7,000 tax libility from tax year 2005″
When you sign that tax form, you are signing a contractual agreement that the tax reported is correct and fee of error. it wasn’t, and you got caught. Pay up. A contract is a contract…right?
getalife
April 21st, 2011
11:00 pm
RW,
ESPN ran a segment on how many times trophies have been dropped.
I think this was the first one run over by a bus.
.
TaxPayer
April 21st, 2011
11:00 pm
Paul Ryan’s plan cuts trillions from medicare and medicaid and othe social programs while cutting taxes more for the wealthiest and it does not even cut the national debt. In fact, the national debt continues to go up under Ryan’s plan. Come on good little con and dispute that with whatever facts you have.
getalife
April 21st, 2011
11:02 pm
“Why not pay them to build something we DO need, like uh… bridges, roads, and levees? The more sciency-guys over at Lockheed could spend their time putting us at the TOP of the green-energy initiatives, and build something that we could use AND sell to other countries. You know, like how Americand did it when we were prosperous, before we became mindless mass consumers of Chinese-made garbage.”
Because Obama wants to do it and the cons said no.
RW-(the original)
April 21st, 2011
11:04 pm
getalife,
I’ve been in the middle of a party that was attended by Lord Stanley’s Cup. I don’t think they could even publish the stories of what goes on with that trophy.
Doggone/GA,
I think you’re misreading what that 10:56 is saying. The way I read it they paid the 7K and now the IRS says they didn’t.
Doggone/GA
April 21st, 2011
11:04 pm
But, but…TaxPayer! You don’t understand. Ryan has a PLAN. That’s what really matters. Nevermind that it’s a bad plan…it’s a PLAN!
Doggone/GA
April 21st, 2011
11:07 pm
“The way I read it they paid the 7K and now the IRS says they didn’t.”
He’ll have to clear it up. I read it that he underpaid by $7000
But assuming you’re correct…who ELSE is going to dust things off and find the proof that he did pay? He’s the one with the data…not the IRS.
@@
April 21st, 2011
11:07 pm
Ryan has a PLAN.
Well, up until the time that he presented HIS PLAN, nobody was even talking about one. It’s a good thing he brought HIS PLAN.
a reader
April 21st, 2011
11:08 pm
not to be a smart-ass, but ask yourself each question before you ask it. your smarter self will have logical answers for most complaints. i know we’re supposed to fued on jay’s watch. but how logical is it to expect either polical PAHDEE to be in the game of human advancement when the pickins are already farmable.
@@
April 21st, 2011
11:09 pm
RW:
I went to your link but didn’t stay long. It was all red and messy. Thought I was looking at blood and guts.
Doggone/GA
April 21st, 2011
11:09 pm
“This world is in a mess and the egg sucking liberal democrates ”
I may not agree with what you say, but I will defend to the death your right to say it.
No matter how assinine it is
AmVet
April 21st, 2011
11:09 pm
Why are virtually all of the dawgs on this forum such eloquent geniuses?
From the Rhetorical Question of the Day file…
getalife
April 21st, 2011
11:11 pm
Where are Josef and HD?
TaxPayer
April 21st, 2011
11:11 pm
Y’all have fun. Time for some snoozing.
@@
April 21st, 2011
11:12 pm
AmVet:
I witnessed your earlier fits of paranoia.
Would you be offended if I told you how amusing I found them to be?
RW-(the original)
April 21st, 2011
11:12 pm
@@,
Buses running things over is usually pretty messy. Did they get a few spectators along with the trophy?
/I didn’t bother to watch the video.
getalife
April 21st, 2011
11:14 pm
RW,
No people but the firefighters rushed in to save the trophy.
AmVet
April 21st, 2011
11:14 pm
getalife, I think they got sick of the cons trying to turn this place into Tucker’s…
@@
April 21st, 2011
11:14 pm
RW:
I didn’t stay. Didn’t even know it was a video…thought it was a still shot.
ewwwww
@@
April 21st, 2011
11:16 pm
AmVet:
You oughta go over to Cynthia’s and straighten those folks out. You’ve done such a fine job wherever you’ve gone.
schnirt
@@
April 21st, 2011
11:17 pm
I’m out.
What kinda name is Joe Mama anyway? Is it like YO’ MAMA!!!
getalife
April 21st, 2011
11:17 pm
AmVet,
Man that sux.
a reader
April 21st, 2011
11:20 pm
eloquent geniuses
no, that’s just you having a new thought brain rush idea spark noodle fit scrath turn where you read something and it makes your bog nod to the left a sec
Left wing management
April 21st, 2011
11:22 pm
RGB: “Libs have no ideas other than calling everyone a liar.”
You keep spouting “libs this, libs that”. Just what IS a “lib”?
Bet you have no idea.
AmVet
April 21st, 2011
11:22 pm
getalife, too many trolls and bigots.
Fortunately JB gets rid of the worst, from time to time.
But like bad pennies, the GLL’s just keep coming back.
I suspect josef and HD will be around for Friday night…
RW-(the original)
April 21st, 2011
11:25 pm
Where are Josef and HD?
getalife,
Isn’t it Passover? That would explain josef, especially if he decided that size didn’t matter on the four cups of wine thing, and I don’t think HD likes a lot of confrontation no matter which “side” it comes from so Am may be half right on him. Plus it’s baseball season and he’s a Cubs fan. The end of April is usually when reality starts sinking in for those North Siders.
/Sorry HD
oldguy
April 21st, 2011
11:25 pm
BTW:
All you good liberals who want to slash the DoD budget might want to look at how that money is spent. By law products and services have to prove they are over 50% US made. The money creates and supports US workers.
Cut it and you are cutting US jobs, many high tech jobs.
If you want the AF to retool with MIGs (the Russians would love to be our high tech aircraft suppliers) they will, we can purchase them cheaper that US Aircraft!!!
p.s. cost overruns? happens. $600 hammers? – yes, because Congress forced specs to be written for them requiring suppliers to make special runs just to meet these requirements, thus high costs.
$1,800.00 fax machines? – during Desert Storm the only faxes that remained functional in the Saudi Desert were these special hardened units….They were key in air and ground targeting, undoubtedly saving lives.
Tedmo
April 21st, 2011
11:26 pm
Jay and the rest of you Libs….Last week the Obamas tax returns were made public. If I am not mistaken the tax bracket for the wealthy sits at 36% right now. The Obamas had income of about 1.7 million and paid about $400,000 in taxes. That is roughly 24%. you tell me who is using the system to get around paying.
MPercy
April 21st, 2011
11:29 pm
LWM@5:23
The tool at your link does not compare effective tax rates. It compares statutory rates, without deductions, exemptions, and without considering capital gains differently than income. Even the sourced document the chart was built on is strictly the statutory rates.
So perhaps it is interesting, but not in the way you think it may be. On the other hand, the CBO has prepared a table of *effective* rates, albeit only back as far as 1979. See, for instance, http://www.cbo.gov/ftpdocs/98xx/doc9884/12-23-EffectiveTaxRates_Letter.pdf
“There are a number of obvious limitations in using the tool. For example, the additions and subtractions to gross income (that yield adjusted gross income) change over time. The deductions that are available to yield taxable income from adjusted gross income also vary over time. The tool, however, only addresses taxable income, and thus doesn’t account for those changes. Likewise, the difference between ordinary income and income from capital gains (the latter currently gets preferential treatment) is not accounted for. The tool only deals with income tax, not payroll tax (payroll tax as currently structured exacts a disproportionate burden on lower- and middle-income taxpayers).”
Jefferson
April 21st, 2011
11:33 pm
I think Tedmo want to raise taxes on the rich.
vuduchld
April 21st, 2011
11:39 pm
You people love wiping the Koch brothers behinds don’t you. There is nothing more you shills would not do but protect scumbags, it’s in your blood, a part of your DNA. That is why your pathetic state keeps sinking to lower depths. Why don’t you monkeys secede!
MPercy
April 21st, 2011
11:41 pm
We don’t think that corporations *shouldn’t* pay taxes, we just think that it’s a waste of time, effort, and money to comntinue the charade that they actually do pay any, even when you manage to get a check from them.
The CBO doesn’t seem to think that corporations are anything more than a passthrough. According to the CBO: “A corporation may write its check to the Internal Revenue Service for payment of the
corporate income tax, but that money must come from somewhere: from reduced returns to investors in the company, lower wages to its workers, or higher prices that consumers pay for the products the company produces.” They go on to say “The short-term burden of the corporate tax probably falls on stockholders or investors in general” and “In the very long term, the burden is likely to be shifted in part to labor”.
It costs businesses upward of $300B (I’ve even seen recent estimates in excess of $400B) just to comply with the tax code–just to keep the records, fill out the forms, etc. All this burden to determine that they need to pass along $250B in taxes, plus the $300B in compliance costs onto their shareholders, customers, and employees.
Relieve industry of the burden of compliance and the charade of collecting tax money, and the government potentially “loses” about $250B each year. But industry gains about $550B, which will quickly show up in increased wages, lower prices, and higher dividends. All of which have a stimulative effect (and the increased wages and higher dividends lead to increased personal income taxes down the line).
What level of industry might we attract if the tax burden was $0? How many off-shored jobs might be just economical enough to now bring them back?
Left wing management
April 21st, 2011
11:45 pm
MPercy, thanks, you’re absolutely right. Effective is precisely what it didn’t show. Thanks for the doc. Though everything hinges on the gap between statutory and effective, I still find the comparison of statutory rates over time very revealing of ideological shifts.
AmVet: “getalife, too many trolls and bigots. / Fortunately JB gets rid of the worst, from time to time.”
Like whack-a-mole.
Go Donald Go
April 21st, 2011
11:48 pm
**So what gives here? Did Trump just turn on a dime, scrap all of his former positions, and embrace the Tea Party platform because he believes in it? Is he cynically using those positions to elbow his way into the conversation because he knows GOP primary voters are made mostly of the far-right base?
I have my own theory, out there though it may be. He could believe in all that stuff, or he could be using those issues to position himself, but there is a third possibility. Trump could be pulling the biggest prank in the history of American politics. If he still believes in single-payer health care and higher taxes for the rich, he could be playing the GOP for fools with a fake run that is already scrambling the RNC’s eggs.
Could it be that Trump is the greatest political mole/troll we’ve ever seen?
I report, you decide.**
Jefferson
April 21st, 2011
11:55 pm
Percy sounds good, don’t work. I say take earnings before depreciation, and interest, plus cut out any bs cost, just real resonable costs and tax that number at about 15%. If you work for a company that is off shore, you live off shore or become an illegal resident subject to the same laws or proposed law against illegal immigrents (you should not have to worry as those folks are getting over on everyone) just live in the shadow of being deported to that great off shore job site.
Tedmo
April 21st, 2011
11:56 pm
No Jefferson, I want to grow this economy , get people back to work and get some real leadership in the Whitehouse and not a hypocrite that says the rich are not paying their fair share when he uses loop holes to avoid paying his ” Fair Share”.
MPercy
April 21st, 2011
11:58 pm
LWM’s earlier link to a “tool” is simply broken. I have entered my own income for the last several years and the tool is off by about 50% in its statement of taxes owed (relative to what I actually paid).
Hell, it even says that a married couple filing jointly with $10K in income would owe $1000. That’s the statutory rate on that level of income. But it’s wrong by a large degree. Assuming these people would file 1040EZ, they would put $10000 on line 1 (which sums to the same on line 4). On line 5 they would enter two check boxes, and enter $18,700 on line 5. On line 6, they would subtract line 5 from line 4, resulting in -8700, which is less than zero, so they would enter $0 on line 6. This is their taxable income. So ignoring everything except the standard deduction and exemption, and they would owe $0 in taxes (if they filed for EITC, they would likely end up with negative taxes).
But LWM’s tool says $1000. I can’t even compute the ratio of how wrong it is…$1000/$0–it’s infinitely wrong.
Tell the truth
April 22nd, 2011
12:00 am
The Republicans have been doing this for years under Bush- the reduction in enforcement on banks, s&ls, the food processing and manufacturing industries; enforcement troops were cut dramatically which in turn brought us in Georgia, for example, the peanut butter fiasco where there are not enough troops to monitor the compliance issues that arise. In the case of the SEC under Bush; they just decided that they were not going to enforce and/or prosecute the criminals. Republicans continue to say with a straight face that the industries do not need regulation; they can and will self monitor themselves. The Republicans are in bed with the Corporate moguls and the wealthy in America; they could not care any less about the working man and the poor and elderly. It’s a fact folks- but keep on believing their tripe and voting their ditto heads into office. Ditto heads that have not had an original idea in their entire career. Are you listening Senators? Georgia is the laughing stock of the entire US and we do not have enough money any longer (by Design) to take care of basic necessities, and yet the Republicans continue to cut the tax rates for the wealthy. Our per capita tax revenue is the lowest in the south and probably the country but certainly over $500 per person less than in other southern states.. Laying off teachers, shutting down programs, furloughs, terrible roads etc. Have you looked at the trash on Georgia’s highways lately?? Worst by far than in any other southern state. The Republicans do not care. They want to ensure that we will not have enough money to provide the basic services that we deserve as taxpayers. Wake up Georgians. I was born here and am over 70- this state is pitiful by virtually every comparable measurement. And they still want to cut taxes next year!!! It’s idiocy in the extreme!!
Tell the truth
April 22nd, 2011
12:09 am
MPercy
April 21st, 2011
11:41 pm
We don’t think that corporations *shouldn’t* pay taxes, we just think that it’s a waste of time, effort, and money to comntinue the charade that they actually do pay any, even when you manage to get a check from them.
The CBO doesn’t seem to think that corporations are anything more than a passthrough. According to the CBO: “A corporation may write its check to the Internal Revenue Service for payment of the
corporate income tax, but that money must come from somewhere: from reduced returns to investors in the company, lower wages to its workers, or higher prices that consumers pay for the products the company produces.” They go on to say “The short-term burden of the corporate tax probably falls on stockholders or investors in general” and “In the very long term, the burden is likely to be shifted in part to labor”.
It costs businesses upward of $300B (I’ve even seen recent estimates in excess of $400B) just to comply with the tax code–just to keep the records, fill out the forms, etc. All this burden to determine that they need to pass along $250B in taxes, plus the $300B in compliance costs onto their shareholders, customers, and employees.
Relieve industry of the burden of compliance and the charade of collecting tax money, and the government potentially “loses” about $250B each year. But industry gains about $550B, which will quickly show up in increased wages, lower prices, and higher dividends. All of which have a stimulative effect (and the increased wages and higher dividends lead to increased personal income taxes down the line).
What level of industry might we attract if the tax burden was $0? How many off-shored jobs might be just economical enough to now bring them back?
Which will quickly show up in INCREASED WAGES, LOWER PRICES, …..??? Are you kidding- I had to pick myself up from laughing so hard. The corps will give those bucks back to employees and customers?? You have been drinking the koolaid for far too long pal. Take my advice- don’t go and make any bets on that one- same for the fair tax- gonna drop prices for everything??? Of course!!!! NOT!!!!
a reader
April 22nd, 2011
12:10 am
in the game of who is Caesar and who is Supreme i kinda get whipped into thinking that a dose of old testament might get the new testament back on track.
1811/1801 - 0311/0317
April 22nd, 2011
12:20 am
Jay:
I worked for IRS – Criminal Investigation Division for three years. It was all so political (both parties)at the higher case levels that it made me sick. The day I decided to move on is when our three tiered review system refused to prosecute four CPA’s in Gaineville, Georgis who had not filled business or personal returns for four years.
I went to an agency who made it their life mission to arrest and prosecutes counterfeiters.
1811/1801 - 0311/0317
April 22nd, 2011
12:24 am
Headline: “Georgia county votes to keep Confederate battle flag flying”
Hummm…………..I wonder how Native Americans feel about the U.S. flag flying over their reservatiosn?
ken
April 22nd, 2011
12:28 am
Jay, I am a Republican and I cut and pasted the GE story to my Senators and rep. Makes me mad as hell too. But, GE’s CEO IS A FRIEND OF Obama,
Fred
April 22nd, 2011
1:24 am
Paul
April 21st, 2011
7:40 pm
Fred
So if you ever have kids, and they ask you “Dad, what would you think if I….”
You’d say “I’ll let you know when you do it, Suzie, ’cause I don’t do what if’s I do TRUTH. If my aunt had balls she would be my uncle”
+++++++++++++++++++++++++++++++++++++
I do have a child Paul. She’s 9. I’m 48. I don’t see your point. I tell my child the truth, I don’t lie to her.
To me, what you posted is insipid. I’m not sure what oblique point you are trying to make and I can’t say that I care. I think you can see my interest level by my frequency on this topic.
yawn
Z
April 22nd, 2011
1:27 am
It is called starve the Beast. The GOP has been working on just that since Reagan was in office. Deregulate everything, don’t pay/fund anything, starve the Beast, that is us (the Government). The GOP hates Government intrusion, that is, until they need it for something they want done, like do away with Abortions, Taxes, and oh yea, the Governments says you can’t take my Guns away..oops and OMG, we have to go fight Wars with every Tom, Dick and Harry of a country even though we have no business whatsoever for being there. History shows though, that the Beast can only be starved for so long, and then rebellions will be imminent.
Every Republican congressman voted in favor of Ryan’s plan to do away with Medicare, Medicaid (starve the Beast). I have all your names plastered on my Frig and they will stay there until Election time 2012, it will be interesting to see how many will be there after election time. Seniors and future Seniors will vote because Medicare is the Holy Grail in this country as well as other countries who have like plans for Seniors. The GOP has to be pretty stupid to have voted for this Ryan plan or totally out of touch with reality. I say both and if that is the case then they are NOT fit to be congressman doing the peoples business. Every single Republican needs to be voted out of their office/chair..none of them have a lick of sense.
Fall Line
April 22nd, 2011
1:44 am
Enter your comments here
Fall Line
April 22nd, 2011
1:47 am
Using a loop hole is not cheating. If you don’t like the tax structure and the results, get your congressman to change them. Calling them “Tax Cheats” is pejorative at best and dissembling at worst.
TnGelding
April 22nd, 2011
3:00 am
Cheating on taxes is as American as cruise missiles. A tax amnesty would probably bring in a trillion bucks.
Duh, Mr. President, what the oil speculators are doing is legal. It’s the system that’s corrupt. And Trump blames it on innocent OPEC.
MiltonMan
April 22nd, 2011
6:38 am
If you demorats are truly concerned about the “evil rich” paying their fair share, you clowns should support the fair tax.
MiltonMan
April 22nd, 2011
6:41 am
Z, replace the republicans with who? Clowns like Roy Rat Barnes, Jim Martin, Max Cleland, Vernon Jones, etc., etc.
No thanks
Cowardly Conservative Cretin
April 22nd, 2011
6:56 am
I don’t understand tonight’s bitterness?
GLL, neither could I! why can’t we be nice?
Joel Edge
April 22nd, 2011
6:57 am
“At least, if I understand these things correctly …”
After reading paragraphs two, three, and the last one, apparently you don’t, Jay.
Swede Atlanta
April 22nd, 2011
7:01 am
My observation of the 2011 budget cuts and the Ryan budget proposal is that this was a slash and burn mentality.
I don’t get a sense that each line item was looked at in terms of its short-term and long-term effect on the economy and the deficit. If, as Jay states, a $600M reduction in the IRS budget will result in a significant impact on enforcement activities to the tune of billions of dollars, then that $600M should not be taken out of the budget.
I don’t know whether it is a factor of protecting monied interests by reducing enforcement of exiting tax law or simply a blind “slash and burn” mentality but this cut appears to be upside down.
stands for decibels
April 22nd, 2011
7:01 am
The GOP is in effect protecting criminals, pulling cops off the beat to ensure that those breaking the law are not caught.
remove the “in effect” and the sentence is more accurate.
Lil' Barry Bailout
April 22nd, 2011
7:14 am
getalife
April 21st, 2011
10:36 pm
We have started a green energy policy with electric cars, wind, solar, ethanol, etc,,,,,,.
consumers said no thanks–your technology isn’t workable and your prices are too high.
The Arab people want freedom like what they are getting in Iraq.
The Democrat party said no. Our President Bush made it possible.
The Idiot Messiah tried to fight AGAINST free speech and FOR banning movies he didn’t want people to see.
The Supreme Court said no.
A vote to make Medicare fiscally viable for decades to come.
The liberal fascists said no
————————
Your finger must have slipped. I fixed it for you.
stands for decibels
April 22nd, 2011
7:24 am
A vote to make Medicare fiscally viable for decades to come.
for anyone foolish enough to believe the premise behind this bit of folderol …
http://factcheck.org/2011/04/ryans-muddy-medicare-claims/
CBO’s projections for Medicare didn’t say that the SMI trust fund was in danger of exhaustion. In fact, in its 2010 report, the Social Security and Medicare Boards of Trustees said that Parts B and D were “both projected to remain adequately financed into the indefinite future because current law automatically provides financing each year to meet the next year’s expected costs.” And it projected that the HI trust fund would be exhausted in 2029. That was under its “intermediate assumptions,” which are the “Trustees’ best estimates of likely future economic and demographic conditions,” according to the report. At that time, dedicated revenues, which include payroll taxes and beneficiary premiums, would be enough to cover 85 percent of HI costs, the report said. The fund’s exhaustion date was 2017 under a “high-cost,” or more pessimistic scenario.
This is hardly the first time government projections have said the HI trust fund would be exhausted. The Congressional Research Service reported that “almost from its inception, the HI trust fund has faced a projected shortfall.” For example, in 1970, the Trustees report said the fund would be insolvent in 1972, and in 1980 the fund was expected to be depleted in 1994. Politicians keep finding ways to postpone any insolvency.
We don’t mean to downplay Medicare’s financial challenges, but the whole system isn’t going “bankrupt,” as Ryan’s claim suggests.
@@
April 22nd, 2011
7:25 am
If Hillbilly’s like me, jay’s fluff pieces are less than thought provoking. If there’s a lot of conflict on here, I’m missing it ’cause I don’t hang around to discuss fluff.
It’s springtime! Maybe he’s enjoying his mountain.
He’s missed but hopefully not mist.
(ISH)
Normal
April 22nd, 2011
7:26 am
Good Good Good Friday all y’all…
I have today and all of next week off so I won’t be around much…just pop in and out. It’s a “fix up th homestead” week but it will be good to get out of the office…
Today’s funnies…
http://news.icanhascheezburger.com/2011/04/21/political-pictures-john-boehner-pep-talk/
…and…
http://icanhascheezburger.com/2011/04/21/funny-pictures-it-was-freaking-awesome/
Normal
April 22nd, 2011
7:28 am
…and…The last I looked, Barak Obama is STILL the President.
Bookman-Tucker-Luckovich
April 22nd, 2011
7:28 am
Riddle me this
Bookman says GOP wants to protect tax cheats. Obama makes a tax cheat Secretary of the Treasury.
WTF?
Oh, Lib thinking.
Steve
April 22nd, 2011
7:35 am
I have never understood why we don’t have tax minimums. Then companies like GE would have to pay the minimum no matter how clever their Accountants are.
It seems like such a simple solution.
stands for decibels
April 22nd, 2011
7:39 am
Obama makes a tax cheat Secretary of the Treasury.
Do try to keep up. The idea here is that it’s not a real good idea for people like Tim Geithner (and myself) to go without paying the IRS what is owed, whether the non-payment is intentional or not.
If you cut back on the IRS’ enforcement abilities, that’s the more likely outcome.
You can grasp this, yes?
stands for decibels
April 22nd, 2011
7:41 am
oh, and I’m a “tax cheat” if Tim Geithner is a “tax cheat,” since the IRS learned that one year, I’d messed up some dividend income reporting and owed some back taxes. Which I paid, along with some penalties.
(oooh, scary!)
udsf
April 22nd, 2011
7:44 am
OK jay – when did you quit beating your wife
Cosby
April 22nd, 2011
7:45 am
Ahh another class warfare and hate the GOP blog by Jay…the only thing this blog points out is how 72,000+ pages of the tax code is stupid and we need to dump the 16th amendment and pass the Fair Tax By the way, Jay, Corporations do not pay any taxes…they collect and pass on. Taxes hit their bottom line and they will just add to the price of goods and services..cut the hate speech out and start thinking!
stands for decibels
April 22nd, 2011
7:47 am
By the way, B-T-L and others Geithner-obsessed–why didn’t your GOP senators go balls-to-the-wall and prevent this “tax cheat”’s confirmation, when they could’ve?
Heck, you had Harkin and Byrd on your side. You coulda claimed it was bi-partisan…
http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=1&vote=00015&loc=interstitialskip
stands for decibels
April 22nd, 2011
7:49 am
we need to dump the 16th amendment and pass the Fair Tax
I’ll ask our Fair Taxers the question I always ask–if it’s such a grrreat scheme, why aren’t other nations, especially those without pesky, democratically-elected representation to deal with, making these incredible strides toward efficiency and “fairness” and funding all of their operations with a similar sales-tax-only plan of their own?
Misty Fyed
April 22nd, 2011
7:50 am
I hate blogs like this where I agree with Jay.
Let’s go with no deductions for anyone. A designated rate on generated income.
stands for decibels
April 22nd, 2011
7:51 am
I have never understood why we don’t have tax minimums.
Presumably because the tax code intends to seriously incentivize certain behaviors, both by its citizens and by its corporations.
That’s the “why.” not saying they should…
Brent
April 22nd, 2011
7:52 am
In the immortal words of Dan Aykroyd, “Jay(ne) you ignorant slut”. How you make the leap from a company exercising legal loopholes in the tax code to TAX CHEAT is beyond me. THEY not the government earned the money through hard work. Our corporate tax rate is the highest in the first world. Why would a multi-national company like GE do business in the US where the tax rate is so high?
It is time to stop the class warfare war being waged by the left. We should be applauding GE for making money. It means they can hire people. But if Washington ROBS them of their profit then they will just go elsewhere to do business and take those jobs with them.
The problem is not tax revenue. The problem is spending. Outside of the “stimulus” money, federal spending is still up 28%. What happened since Obama was elected? Did the IRS need 28% more people? Does the Department of Agriculture need 28% more money to hand out subsidies?
It is time to stop spending. It is time for tax reform. Art Laffer’s editorial stated that the US spends (wastes) $600 BILLION in tax compliance. We need a flat tax/consumption tax/Fair Tax or some less complicated manner of collecting taxes. We need a balanced budget amendment to the Constitution. The rest of the world has caught on to the problem of spending. The UK cut TEN PERCENT out of its government budget. What did we do? We cut less than 1% of this year’s budget and that over multiple years.
Washington (and you on the left) need to understand that we cannot spend our way out of this problem. It is almost as ridiculous as telling your wife to open another credit card and go have a spending spree when your pay has been cut at the AJC. Instead you would have a family meeting to discuss cutting your budget.
Doggone/GA
April 22nd, 2011
7:52 am
“It seems like such a simple solution”
There’s two ways to handle a minimum tax: a flat amount, or a flat percentage of profit. There are problems with both.
A flat amount is unfair to companies if they have very low profits. And a flat percentage would only encourage them to disguise as much as they can OF their profits – in order to lower their minimum tax.
stands for decibels
April 22nd, 2011
7:54 am
Let’s go with no deductions for anyone. A designated rate on generated income.
Such taxes are appealing in their simplicity, I guess. Maybe they’d be more efficient for generating revenue—for the purposes of the hypothetical, let’s say they are.
But how long do you take to wean ourselves off the really big deductions? Surely you’re not suggesting that next year the mortgage interest deduction just goes poof, right?
stands for decibels
April 22nd, 2011
7:55 am
How you make the leap from a company exercising legal loopholes in the tax code to TAX CHEAT is beyond me.
well of course it is, you’re willfully ignoring the rhetoric employed by the commenters here.
Misty Fyed
April 22nd, 2011
7:55 am
Stands, I don’t know what I think about the Fair Tax; however, I see no reason to oppose it simply because other nations haven’t adopted it. There is no other nation that faces the challenges we do or has established itself as a beacon of economic theory and prosperity.
JohnnyReb
April 22nd, 2011
7:55 am
Jay, your logic is completely flawed. Are you practicing to be some politician’s campaign manager? The rhetoric no doubt appeals to the bleeding-heart crowd.
The beef with the 47% that don’t pay any federal taxes is not that they are cheating. Where did that come from? They have a legal free ride. Therein the issue.
BigBusiness
April 22nd, 2011
7:56 am
Listen to the joy in Neal Boortz’s voice…
Another taking head republican that spews garbage and has no authority or responsibility to do anything. I believe you call that a coward.
Misty Fyed
April 22nd, 2011
8:00 am
Stands…I have no idea how to implement it…. That is above my paygrade… however, I agree with the apparent unfairness of the current system.
A standard rate would be simple but we don’t live in a simple world. Politician use tax breaks to attract businesses to economically depressed areas, increase revenues in order to create jobs, or to protect donors to campaigns. Politically speaking, a flat fare rate tax or simple system such as the fair tax will never happen because it takes too much power from politicians.
Some of that power is used for good, and some is used as a cover for corruption.
Time to go row with the others..
stands for decibels
April 22nd, 2011
8:00 am
I see no reason to oppose it simply because other nations haven’t adopted it.
Doesn’t the fact that not even the likes of free-market Singapore, or Switzerland, go to this one (1) well for ALL of their revenue give you just a little pause? I humbly suggest it should.
Marshall
April 22nd, 2011
8:10 am
seriously? why does GOP defend tax cheats? – why are you not writing about the president’s secretary treasurere – TIM GEITNER?????
And last time I checked, the CEO of GE – Jeffrey Imelt was a big time liberal in bed w/ the white house… he is the most frequent visitor.
You liberal democrat journalist kill me!!!
Paul
April 22nd, 2011
8:33 am
Mornin’, Fred
“Fred
So if you ever have kids, and they ask you “Dad, what would you think if I….”
You’d say “I’ll let you know when you do it, Suzie, ’cause I don’t do what if’s I do TRUTH. If my aunt had balls she would be my uncle”
+++++++++++++++++++++++++++++++++++++
I do have a child Paul. She’s 9. I’m 48. I don’t see your point. I tell my child the truth, I don’t lie to her.
To me, what you posted is insipid. I’m not sure what oblique point you are trying to make”
Fred, this began when you asserted the story that GE did not show a profit and pay taxes was false. I pointed out the theme was how people react to that vs reacting to a middle class family paying nothing on their 1040.
Your response was you don’t deal in hypotheticals, only “TRUTH.” I asked how you’d handle a hypothetical from your daughter. You repeated the TRUTH statement.
Frankly, it sounds like an attempt to avoid answering the GE question on what your reaction would be if they didn’t pay taxes. The ‘if you had kids’ was to see if you’d give answers to ‘what if’ questions posed by your kids (questions the “I deal only in TRUTH’ premise) while avoiding this topic.
Do you see the point now? It is not about lying to your child. It is about whether or not you’d answer a question posed by her if she asked you what you’d think if she did something at some future time. Somehow, I do not think you would reply with the “I deal only in TRUTH’ answer.
Bottom line: if you don’t want to answer what you’d think of a company making billions in (nonpaper) profits paying no tax, you can just say so.
deegee
April 22nd, 2011
8:43 am
Why should it matter to anyone outside of the political machine which party gets the most money from a particular sector? As you can see from the example below, the money goes to whichever party sings the prettiest tune. IMHO, the corruption in our political system rivals that of anything you would encounter in the most corrupt dictatorships in the Middle East, like Libya.
“One Democratic-leaning firm that has signaled particular displeasure with the administration’s direction is J.P. Morgan Chase, which is headed by Obama supporter James Dimon and has several other prominent Democrats in its upper ranks. The bank and its employees, who doled out nearly $500,000 in federal contributions last year, went from giving 76 percent of the money to Democrats in the first quarter to giving 73 percent to Republicans in the fourth.”
Peter
April 22nd, 2011
8:52 am
I don’t think the GOP is allowing tax cheats, I think the ideology is less government in all forms….NO EPA, No oversight of anything.
We should cut allot out of the budget starting with our WARS….raise taxes to a point where we are now getting rid of the Bush debt.
poison pen
April 22nd, 2011
9:06 am
With all the new technology that the IRS has why not reduce their staff? What are computers & electronics for. I gurantee you, if a law was passed that anyone caught wilfully cheating on their
taxes went to prison for a mandatory sentence, there would be a lot more taxes going into the govt kitty.
I don’t see repubs being happy with tax cheats or anyone else for that matter.
Hmmmmmmm
April 22nd, 2011
9:08 am
I say everbody in this country should stop paying taxes…. Then see how long it takes the bumbling idiots in Washington to fix this mess….
Tundra Dude
April 22nd, 2011
9:09 am
Obama makes a tax cheat Secretary of the Treasury.
When you’re politically-connected you’re easily forgiven for minor transgressions.
Geithner’s dad was Obama’s moms’ boss in Indonesia. (Ford Foundation)
BRADLEYIFV
April 22nd, 2011
9:29 am
This isn’t reporting, this is propaganda – GOP of course doesn’t want to protect tax cheats – GE is linked to Obama Administration more than anyone – NOTHING in your article backs up your claim that it is the GOP that wants to protect tax cheats. Stick to the facts and leave the BS off the news. Brady in Independence, KY
Jeff
April 22nd, 2011
9:29 am
Tell you what jay, you support the paying of some taxes on the $40k family and I’ll support more enforcement for the millionaires. But I’m going to require you to go first because I don’t trust a liberal one inch.