Don't get me started on CASH.
I've been doing taxes for a long time.
I'm looking forward to a cashless society so all these phucks cheating on their taxes will finally pay their share.
Construction guys are the worst.
Can someone explain why childless, single working women is a bad thing?
- Thread starter Hawki97
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I've been doing taxes for a long time.
I'm looking forward to a cashless society so all these phucks cheating on their taxes will finally pay their share.
Construction guys are the worst.
Most people in what set? Most people in all of the US? In your state? Locality? And for what things?
There can be multiple "norms" occurring at the same time.
My wife and I miss those days of traveling/supporting our kids in all their sports and other activities. That time goes by quickly.
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"Bitching" wasn't a very good word as they're not "anti" kids or family perse.
Example hypothetical pieces: "Why I chose not have kids", "The person my mother was before she had kids (the loss of individuality)", "How much raising a kid really costs"
My point is that they're all items that might serve to dissuade someone from having kids. They're not "positive"
Sure. Talking about a big overarching norm here. Whatever norms changed that led to the drop in the birth rate
And that benefit is not distributed equally or fairly. Some people report all of their tips and pay the taxes on them like they should. Others don't and they are rewarded for breaking the rules. This incentivizes people to cheat the system. I say figure out a way to get the vast majority to pay or drop it for the majority of them and focus attention on the most aggregious offenders.
I don’t think when people are discussing immigration….they are talking about U.S. citizens going to other countries. 😉
I don't understand your argument. Nobody is regulating or going after cash tips today or in the future. It's always been a black hole and eliminating or keeping tips taxable has no bearing on that.
Gifts have never been considered income and have generally already been taxed as income when the giver earned it.
Estate taxes??? I don't get it.
All income is subject to income tax. There are exemptions to exclude lower amounts, but it is all subject to taxes.
What "norms" are those and do you advocate for reinstating the "old norms"? How would that be done?
So, we should stop taxing everything because there are cheats among us?? Compliance rates are increasing already as the level of cash use decreases. Nobody is going after the tip cheaters. Never have. Never will.
Gifts over $17k 9/10 times aren't even taxable.
This confuses most people.
Well, gifting in general confuses most people.
Given that they're an organic thing that arises in a society no, I don't think anybody can choose to just reinstate them.
Gov can incentivize certain behaviors, and media could be more supportive of the effort... but that's about it.
What norm? I was talking about the norm of yesteryear (if you go look at the numbers) that most everyone had kids, and then, had more of them. The origin of that? That's a hell of a question. Probably what humans had been doing for a long, long time. (granted, with less frequency in modern times)
You have any links for those quotes? It wasn't that long ago that people had children in order to have additional laborers for their family businesses.
Families and children are celebrated in the US as they should be. Claiming otherwise is crazy. Now if you complain about child care, taxes, family leave, etc. that make it easier for parents, I will agree our government needs to improve.
That's not accurate. Paying taxes on cash tips is required and people who are caught not paying them are fined or punished. I agree that lots of people still get away with it but it's inaccurate to claim it is not regulated.
Gifts are taxed if they are over $17K (currently) and paid by the giver. Inheritance is not taxed unless the estate is so large it qualifies for estate tax. Income from a death benefit is not taxed. Social Security is not taxed in some states. Some military pay is not taxed. You mentioned a way corporations pay some executives as a method to avoid income tax.
The point is there are many sources of income that are not taxed.
However, when he mentioned that the current $ that working Americans put into the SS system…goes to retired Americans that are receiving SS…he is correct. There is not a separate pot of your SS contributions that the SS administration holds for 30 years and then pays you out with. 😜
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You're being absurd now. There are, and will continue to be cases against wait staff and bartenders who fail to report their tips. It's completely wrong to say nobody is going after them.
They were hypotheticals. I could go grab links if you really don't believe there is stuff like this out there.
I'm saying it's been the volume of them (and little on the other side) in much major media that has been the issue.
That this seeped into popular culture, seemingly.
People that have kids still like them of course. And celebrate them on social media and in the public view to an extent. And then there are the dedicated pro-kids/parenting web presences... but they're not big mainstream things like opinion pieces in the Guardian or NYT are.
This is a good post. It highlights a different set of circumstances.
You're confused by the term "income". Those gifts and inheritances aren't taxed as "income" because they are not income. Those monies were already taxed as income when they were earned. When they are transferred they are property.
If you want to define every time something of value is transferred as "income" to the recipient, then you'd have a point. A nonsensical point with zero legal standing, but a point nonetheless.
With the interconnected nature of current society won’t cultural differences recede into the past?
What incentives do you propose and for what behaviors?
People had lots of kids in the past because they needed help on the farm. Mortality rate was much higher as well. As the standard of living has risen the birth rate has fallen.
I don't know. I just got done saying incentives don't seem to be working anyway...
Whatever you want to call them please link several articles that discourage couples from having children.
I'm not confused at all. Above $17K the gifts are taxed. Tips could be classified as "gifts" I suppose.
Military combat pay is most definitely income. SS benefits are income.
The point remains that saying tips have to be taxed because all other income is taxed is not accurate.
Technology has also lowered the birth rate because many past labor intensive jobs have been automated. Farming is much more automated today than it was 50 or 100 years ago.
It is totally accurate but we will agree to disagree. And yes, you are incredibly confused. SS benefits ARE also currently taxed at certain income levels. Another stupid proposal that is floating around is to eliminate taxes on them.
Wrong again.
You have two choices on inheritance….you can get it at its original value at purchase putting you on the hook for capital gains taxes when you sell or you can get the step up in basis and pay an inheritance tax that captures some of what’s owed on that appreciation. If daddy sold his stock the day before he died, he owes taxes. Why should you get that asset free and clear the day after he dies?
The irony of a bunch of men telling women they should have more babies to protect our “culture” should not be lost here.
And they're selfish if they don't!
Ok. So we've moved on from the nonsensical tip argument to the estate tax discussion.
I'm not sure what you're suggesting here. Nobody pays any federal taxes upon the first $22 million (if a joint estate) of the estate. The person inheriting the estate never pays any estate taxes (or inheritance taxes as you called them). The estate pays estate taxes if applicable and then the net goes to beneficiaries. There are myriad different ways to shelter even more wealth from taxes, but I'm not getting into that here.
In summary, what's your question again?
Was it you who said, "Those gifts and inheritances aren't taxed as "income" because they are not income"? It appeared you needed to understand that the unrealized capital gains on an inherited asset IS income to the heir. And the $22M base for that is ridiculous.
Oh I understand it very well. Gains that are made under the original owner are never recognized from a tax perspective because of the step up in basis to the person who inherits it. Those assets are a transfer of property or wealth from one generation to the next. It is not considered income.
Even under the current proposals, none of that would ever be taxed because it's less than $100 million. Of course that doesn't stop all of the chicken littles on here from clucking away like it's the end of the world.
With respect to the $22 million, I was wrong. It's actually around $13.6 million per person today or approx $27 million per couple. That goes way down after next year to $7/$14million. You might see an exodus of 1 percenters to death with dignity states next year 😄
