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Old 08-16-2022, 05:33 PM   #1
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BUSTED: Middle class will be hit with 20B in new taxes from this new insane act

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Old 08-16-2022, 05:34 PM   #2
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Pssst....it's ALL Orwellian at this point, in case you haven't figured it out
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Old 08-16-2022, 05:44 PM   #3
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First, the people getting the biggest green energy rebates will be those with a good amount of disposable income. Corporations will pass tax increases on to consumers, everyone gets to pay for those. Amazon was mentioned as a large corporation that will be hit with tax increases. I am sure a lot of poor people shop there.
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Old 08-16-2022, 07:03 PM   #4
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Once again you post a complete lie. There are no new taxes on the middle class in the IRA. A new tax would be if the income tax rate on persons earning less than $400,000 was raised. It was not. AAnew tax would be if the sales tax was raised. It was not. No taxes were raised for this group. No new taxes were imposed on this group.

That extra $20B is a fiction based on little to no evidence. The claim is the IRS With it’s additional resources is going to be targeting small businesses. This I’d preposterous. Small business means small tax fraud, if any. It may be two or three times as difficult to enforce the law and collect delinquent taxes against a large corporation, but the payoff can be hundreds of times greater.

These big corporations and their media shills like Fox are desperate to stop this law. Too late!!!!!! So they are trying to trick us into believing we are the targets. The fact is, The New York Post and the talking heads on Fox News care nothing about the middle class. We are just cannon fodder to be used in the war .
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Old 08-16-2022, 07:16 PM   #5
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First, the people getting the biggest green energy rebates will be those with a good amount of disposable income. Corporations will pass tax increases on to consumers, everyone gets to pay for those. Amazon was mentioned as a large corporation that will be hit with tax increases. I am sure a lot of poor people shop there.
No, no, no. You've got that all wrong. Didn't you get the Postman's memo on corporate taxes? All corporations are altruistic at heart and even though federal taxes increase the costs to corporations of doing business, those costs are never passed on to the "consumers" or "poor people". The corporate gods eat those increases on behalf of their customers. And I think that's very sweet, kind-hearted and generous of them to do that. Long live the corporate gods!
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Old 08-16-2022, 07:19 PM   #6
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Once again you post a complete lie. There are no new taxes on the middle class in the IRA. A new tax would be if the income tax rate on persons earning less than $400,000 was raised. It was not. AAnew tax would be if the sales tax was raised. It was not. No taxes were raised for this group. No new taxes were imposed on this group.

That extra $20B is a fiction based on little to no evidence. The claim is the IRS With it’s additional resources is going to be targeting small businesses. This I’d preposterous. Small business means small tax fraud, if any. It may be two or three times as difficult to enforce the law and collect delinquent taxes against a large corporation, but the payoff can be hundreds of times greater.

These big corporations and their media shills like Fox are desperate to stop this law. Too late!!!!!! So they are trying to trick us into believing we are the targets. The fact is, The New York Post and the talking heads on Fox News care nothing about the middle class. We are just cannon fodder to be used in the war .
I thought the CBO was non-partisan and supposed to be trusted.

Didn't you guys always cite the CBO during the Trump years?

What am I supposed to do now?

If the CBO says middle class is going to get whomped with 20B in new taxes thanks to this bill...are you saying they are lying?

Quote:
Key Point: At least $20 billion of the revenue Democrats hope to collect from taxpayers with a supercharged IRS would come from lower- and middle-income earners and small businesses, according to a new analysis by the nonpartisan congressional scorekeeper. That’s in addition to existing audits of these income levels.

Explanation: Last weekend, all 50 Senate Democrats voted against an amendment offered by Senate Finance Republican Leader Mike Crapo (R-ID) that would have protected lower- and middle-income American taxpayers against new audits by the IRS.

The Congressional Budget Office (CBO) confirms that had this amendment passed and lower- and middle-income taxpayers been protected, revenue in Democrats’ bill would have been reduced by at least $20 billion – confirming that at least $20 billion of the $124 billion in new revenue expected by a supercharged IRS will be coming from higher audits on low- and middle-income Americans. This will be in addition to existing audits on these income levels.

From CBO:

“CBO has not completed a point estimate of this amendment but the preliminary assessment indicates that amendment 5404 would reduce the ‘non-scorable’ revenues resulting from the provisions of section 10301 by at least $20 billion over the FY2022-FY2031 period.”
https://gop-waysandmeans.house.gov/c...come-families/

BOOMER gets BUSTED
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Old 08-16-2022, 07:24 PM   #7
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Where do they get that $20B figure? Not from the CBO. The CBO hasn’t finished scoring the bill. But let’s stipulate that is a legit number. It’s a ten year number. $2B a year. Figuring 50,000,000 middle class households- probably lose-this bill would cost each household $40 a year or $3.33 a month. I am absolutely willing to pay that for decent climate, more inclusive health care and whatever benefits are included in this legislation.

But most importantly, if you file your taxes properly and legally, if you don’t try to defraud the government, then you don’t need to worry.
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Old 08-16-2022, 07:26 PM   #8
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Where do they get that $20B figure? Not from the CBO. The CBO hasn’t finished scoring the bill. But let’s stipulate that is a legit number. It’s a ten year number. $2B a year. Figuring 50,000,000 middle class households- probably lose-this bill would cost each household $40 a year or $3.33 a month. I am absolutely willing to pay that for decent climate, more inclusive health care and whatever benefits are included in this legislation.

But most importantly, if you file your taxes properly and legally, if you don’t try to defraud the government, then you don’t need to worry.
Read my latest reply (you missed it while you were frantically typing away).

It's all there. Complete with link.
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Old 08-16-2022, 07:34 PM   #9
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Originally Posted by PaceAdvantage View Post
I thought the CBO was non-partisan and supposed to be trusted.

Didn't you guys always cite the CBO during the Trump years?

What am I supposed to do now?

If the CBO says middle class is going to get whomped with 20B in new taxes thanks to this bill...are you saying they are lying?



https://gop-waysandmeans.house.gov/c...come-families/

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1. It’s not new taxes. It’s taxes people should have been paying-in many cases taxes they cheated to avoid. If you paid your taxes honestly and properly, you will pay no more.

2. You ignore the fact that the top 5% will pay $105B in additional taxes under this legislation. Five times what the middle class will pay.
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Old 08-16-2022, 07:36 PM   #10
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No, no, no. You've got that all wrong. Didn't you get the Postman's memo on corporate taxes? All corporations are altruistic at heart and even though federal taxes increase the costs to corporations of doing business, those costs are never passed on to the "consumers" or "poor people". The corporate gods eat those increases on behalf of their customers. And I think that's very sweet, kind-hearted and generous of them to do that. Long live the corporate gods!

I do try to hang on Cliffy's every word, I think he also claimed they couldn't pass on tax increases also due to the fact they wouldn't know the impact until the end of their year. It had to be one of the stupidest things he ever said and that is saying something.
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Old 08-16-2022, 07:38 PM   #11
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Originally Posted by PaceAdvantage View Post
I thought the CBO was non-partisan and supposed to be trusted.

Didn't you guys always cite the CBO during the Trump years?

What am I supposed to do now?

If the CBO says middle class is going to get whomped with 20B in new taxes thanks to this bill...are you saying they are lying?



https://gop-waysandmeans.house.gov/c...come-families/

BOOMER gets BUSTED
From the CBO via your link.
CBO:



“CBO has not completed a point estimate of this amendment but the preliminary assessment indicates that amendment 5404 would reduce the ‘non-scorable’ revenues resulting from the provisions of section 10301 by at least $20 billion over the FY2022-FY2031 period.”

Revenue not taxes-or, not new taxes. Revenue from improved collections.
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Old 08-16-2022, 07:48 PM   #12
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Where do they get that $20B figure? Not from the CBO. The CBO hasn’t finished scoring the bill. But let’s stipulate that is a legit number. It’s a ten year number. $2B a year. Figuring 50,000,000 middle class households- probably lose-this bill would cost each household $40 a year or $3.33 a month. I am absolutely willing to pay that for decent climate, more inclusive health care and whatever benefits are included in this legislation.

But most importantly, if you file your taxes properly and legally, if you don’t try to defraud the government, then you don’t need to worry.
I have a question. That 370 billion or whatever the number allocated for climate change, how much of a drop in the Earth's temperature are we going to see from it. If nothing then we just pissed away a lot of taxpayer money.
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Old 08-16-2022, 07:55 PM   #13
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From the CBO via your link.
CBO:



“CBO has not completed a point estimate of this amendment but the preliminary assessment indicates that amendment 5404 would reduce the ‘non-scorable’ revenues resulting from the provisions of section 10301 by at least $20 billion over the FY2022-FY2031 period.”

Revenue not taxes-or, not new taxes. Revenue from improved collections.
There's no difference. It results in the middle class getting hammered....again

Which you guys said wouldn't happen.

Once again you CRAFT YOUR LIES beautifully.

And everyone buys it...and Republicans sit there like the ineffective simps they are and do nothing and say nothing.
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Old 08-16-2022, 08:07 PM   #14
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There's no difference. It results in the middle class getting hammered....again

Which you guys said wouldn't happen.

Once again you CRAFT YOUR LIES beautifully.

And everyone buys it...and Republicans sit there like the ineffective simps they are and do nothing and say nothing.

I still am more interested in how the Inflation Reduction Act is going to lower inflation. Economics 101 says it will increase inflation for everyone but a select few. What I think is really amusing is how people jump up and down about corporations that pay no taxes, with the least bit understanding where the money went. Of course Cliff can explain that to all of us.


Maybe we can all have some fun and come up with ideas on how corporations
will pay increased taxes without raising prices. Let Cliffy go first.
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Old 08-16-2022, 09:11 PM   #15
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CALLING OUT THEIR BULLSHIT!

CNN of all people


https://hotair.com/ed-morrissey/2022...lation-n490146
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