stanfordchef Posted August 29, 2024 Posted August 29, 2024 On 8/29/2024 at 4:20 PM, Sactowndog said: Sure there is. It’s a bunch of wealthy individuals working with their local Congressperson to create a carve out that will benefit them directly. The reason is directly related to running for Congress takes lots of money. No I agree lol. Clearly that’s the whole purpose. Plus it creates lots of business for people to hire people like me to solve their problems lol. with that said I guess what I was trying to say there’s no real need for it to be the way it is that’s unique to the functionality of the country. Like it could be a single or two pages like a Texas Franchise Tax return and we’d still function. It’s just bureaucratic noise to lessen bills basically at this point. 1 Quote
bornontheblue Posted August 29, 2024 Posted August 29, 2024 On 8/29/2024 at 5:20 PM, Sactowndog said: It’s a bunch of wealthy individuals working with their local Congressperson to create a carve out that will benefit them directly. It’s actually the opposite. It’s the IRS very very narrowly defining the intricacies of tax law. Tax law is complex to try and prevent what you are talking about Quote
stanfordchef Posted August 29, 2024 Posted August 29, 2024 On 8/29/2024 at 4:15 PM, SleepingGiantFan said: True dat. So much the worse. Few things are as beautiful as the innards of the internal revenue code and the various state iterations of the same thing lol. 1 Quote
Sactowndog Posted August 29, 2024 Posted August 29, 2024 On 8/29/2024 at 4:23 PM, bornontheblue said: It’s actually the opposite. It’s the IRS very very narrowly defining the intricacies of tax law. Tax law is complex to try and prevent what you are talking about Having worked in Congress for a period of time I can assure you it goes on way more than you would like to believe. 1 Quote
stanfordchef Posted August 29, 2024 Posted August 29, 2024 On 8/29/2024 at 4:23 PM, bornontheblue said: It’s actually the opposite. It’s the IRS very very narrowly defining the intricacies of tax law. Tax law is complex to try and prevent what you are talking about Lmao what? it’s as complex as it is to allow for such things. It isn’t too complex by design to prevent them from happening. Monied special interests score carveouts regularly. Like the fishing lobby. eventually someone or someones exploit the piss out of a loophole to the point it has to be closed bc the abuse is so rampant (see reportable transactions as an example) but generally then new opportunities to exploit spring up in their place. Like redwood saplings after a forest fire. 1 Quote
Spaztecs Posted August 29, 2024 Posted August 29, 2024 On 8/29/2024 at 12:28 PM, azgreg said: To be fair something like 37 or 38 states already have anti-gouging laws on the books including some deep red states. They seem reluctant to use that power. 1 Quote
bornontheblue Posted August 29, 2024 Posted August 29, 2024 On 8/29/2024 at 5:28 PM, Joe from Wyo said: Lmao what? it’s as complex as it is to allow for such things. It isn’t too complex by design to prevent them from happening. Monied special interests score carveouts regularly. Like the fishing lobby. eventually someone or someones exploit the piss out of a loophole to the point it has to be closed bc the abuse is so rampant (see reportable transactions as an example) but generally then new opportunities to exploit spring up in their place. Like redwood saplings after a forest fire. Sure there are examples of carve outs for special interests in actual tax code. I’m talking about IRS regs and guidance where the real complexity lies , and that is almost always an attempt to very narrowly define tax benefits , and broadly define what is favorable to the Treasury department. The courts call balls and strikes. Between the IRS and taxpayers. Quote
Akkula Posted August 30, 2024 Posted August 30, 2024 Billionaires are trying to buy off Kamala having already bought Trump. https://www.nytimes.com/2024/08/29/us/politics/donors-harris-tax-ultrawealthy.html Donors Quietly Push Harris to Drop Tax on Ultrawealthy "Ms. Harris’s campaign last week said she supported the tax increases included in President Biden’s latest White House budget proposal. One of those plans would require Americans worth at least $100 million to pay taxes on investment gains even if they have not sold the stocks, bonds or other assets that have appreciated." Quote
bornontheblue Posted August 30, 2024 Posted August 30, 2024 On 8/29/2024 at 5:27 PM, Sactowndog said: Having worked in Congress for a period of time I can assure you it goes on way more than you would like to believe. Having several years experience in applying and researching tax law and tax regulations I can say confidently that the complexity in tax law comes from narrowly defining what the IRC says and much of that attention is directed to narrowly defining tax benefits that specifically apply to ultra wealthy taxpayers. Quote
GO STATE Posted August 30, 2024 Posted August 30, 2024 On 8/28/2024 at 5:13 PM, Joe from Wyo said: is this real life I’m sewing the Canadian flag on my backpack as we speak…. 1 Quote
GO STATE Posted August 30, 2024 Posted August 30, 2024 On 8/29/2024 at 10:28 AM, azgreg said: To be fair something like 37 or 38 states already have anti-gouging laws on the books including some deep red states. Are they being properly enforced? Quote
stanfordchef Posted August 30, 2024 Posted August 30, 2024 On 8/29/2024 at 10:37 PM, GO STATE said: I’m sewing the Canadian flag on my backpack as we speak…. Fuck it we should both just head to Colombia if this election goes south. Could sell coconuts to tourists with “Santa Marta” carved in them. Quote
Nevada Convert Posted August 30, 2024 Posted August 30, 2024 On 8/28/2024 at 9:31 PM, Sactowndog said: Notice I didn’t bother asking you. Mug might as a real never Trumper actually vote for Kamala. You are a pretend never Trumper who will vote for him anyway. Cool story, bro! Quote
GO STATE Posted August 30, 2024 Posted August 30, 2024 On 8/29/2024 at 9:52 PM, Joe from Wyo said: Fuck it we should both just head to Colombia if this election goes south. Could sell coconuts to tourists with “Santa Marta” carved in them. ¡La verdad Parcero! 1 Quote
Sactowndog Posted August 30, 2024 Posted August 30, 2024 On 8/29/2024 at 10:58 PM, Nevada Convert said: Cool story, bro! You needed to respond to this post twice??? damn being called out must really bother you. 1 Quote
SleepingGiantFan Posted August 30, 2024 Posted August 30, 2024 On 8/29/2024 at 10:58 PM, Nevada Convert said: Watching tortoises hump = #1 on Letterman's list of When You Know You Need to Get a Life 1 Quote
Cowboy Up Posted August 30, 2024 Posted August 30, 2024 On 8/30/2024 at 12:02 PM, Sactowndog said: You needed to respond to this post twice??? damn being called out must really bother you. Example #3 of him being thin skinned 1 Quote
PackNation Posted August 31, 2024 Posted August 31, 2024 On 8/29/2024 at 10:58 PM, Nevada Convert said: Cool story, bro! Dementia alert. Quote
Cowboy Up Posted August 31, 2024 Posted August 31, 2024 On 8/29/2024 at 11:58 PM, Nevada Convert said: Cool story, bro! Why are all your lame comebacks on her related to weird animal sex themes? At least when I bring a sexual related post to the board they are real…like when I bang yer mom. Quote
Nevada Convert Posted August 31, 2024 Posted August 31, 2024 On 8/29/2024 at 4:27 PM, Sactowndog said: Having worked in Congress for a period of time I can assure you it goes on way more than you would like to believe. Very cool story, bro. Quote
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