Fed Chair Powell Says Economic Pain Coming

Everyone with deep enough pockets to buy a couple of lines of tax code.

https://www.goodreads.com/book/show/320862.America

I read this decades ago, I'm sure there are more stories since then, but it is full of instances of individuals and corporations who were able to buy enough legislators to get a paragraph into the tax code that saved them millions of dollars.

 

Those people just need to pull themselves up by their boot straps. (I'm I doing that right?)

 

Link?

 

You need to ask yourself why is there electric bill at all time highs?

 

I know the answer. Capitalism. If you hate America, move to Venezuela (Am I doing this right?)

 

Certainly a lot more possibility for roi than billions for a mere 20 miles of non-functioning wall though.

 

Exactly. And precisely why they are never going to simplify the tax code. It’s a pipe dream like term limits.

 

Federal Surplus or Deficit [-]

 

Now see, it's exactly those kind of irrefutable facts that magas hate with a passion. Yet there you go throwing facts and logic right in their face. Next thing you know we'll start expecting maga "facts" to be ... accurate and trustworthy. LOL

 

Frustrating. Those are two very intelligent ideas.

 

Perpetual gridlock is the only good solution.

 

Everyone but the little guy.

 

Great line only problem with the narrative is that a significant percentage of the 87,000 new IRS employees will not be agents and the 87,000 is over a 10-year period.
Another Republican lie is born

 

The complicated tax code is a direct consequence of money in politics. We have the best politicians money can buy. Special interests lobby and contribute to members of congress in turn for tax loopholes built into the system. A recent prime example is Kyrsten Sinema and the carried interest loophole. Under the loophole the income of managers of hedge funds is taxed as capital gains rather than as ordinary income saving the wealthiest taxpayers literally millions of dollars in taxes with the cost to the treasury at an estimated $14 billion. Sinema was willing to torpedo the Democratic legislative package unless the loophole stayed in the Code and she is just one example.
How Wall Street wooed Sen. Kyrsten Sinema and preserved its multibillion-dollar carried interest tax break

• Sinema has been fighting since at least last year to help preserve the tax break, which allows hedge fund managers, law firm partners and private equity executives, among others, to pay significantly less tax than ordinary workers.
• Since the start of the 2018 election cycle, she’s raked in at least $2 million from the securities and investment industry — outraising Senate Banking Chairman Sherrod Brown’s $770,000 in industry donations over the same time, FEC data shows.

 

thanks inept joe.......

 

So you must be shorting the entire market big time then. Think of all the money you will make! Assuming that you are aware that 20,000 is lower than 32,000.

 

The gov't would probably lose less money by not handing out money in a panic to small businesses when something goes wrong like a pandemic.

Secret Service recovers $286M in stolen pandemic loans

Less handouts = less fraud.