Somewhat an edge play here, but how about Phil Parker (he is a public employee)?
Flat tax is going to pass in both Iowa House and Senate
- Thread starter Jimmy McGill
- Start date
Then pay it. You do not have to claim that your investment income/retirement income is such. I just did my Iowa taxes and I know as much. Depending on how you choose to fill out your tax. Dont take the tax break. If you have an accountant do them, instruct them not to take the exclusion on the income. Enough of this business of I dont pay eneough, or should pay more, but I dont. Your just full of hot air dude. 'I only pay what I owe' SMH...
You've sorta jumped the shark here. You realize that retirement income is reported on various 1099 forms, are you suggesting that you can somehow file your Iowa taxes (for which you have to enter/attach those 1099s) as W2 income?
I don’t even have to file with Iowa! LOL
It’s so phuquin’ stupid!
I follow the tax laws. I pay what I am supposed to pay…but this “no taxes ‘cause your old” is short-sighted and foolish….I would expect nothing less from this Governor and this Legislature. You will never convince me this is a sound financial policy.
Absolutely….doesnt change my belief it’s an absolutely irresponsible policy. If they ‘change” the rules back to paying taxes in retirement income, I will not be complaining, though.
I believe taxing retirement incomes and lowering sales taxes is a better “solution” to whatever problem the Governor and legislature believes exits. Let’s cut taxes for everyone….and not pander to a special interest group.
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Pay rate isn’t based on how hard you work or how skilled you are. Not everyone has the same opportunities. Not everyone catches the same breaks.
Pay rate isn’t based on how hard you work or how skilled you are. Not everyone has the same opportunities. Not everyone catches the same breaks.
Yes, there are now no state taxes on IPERS (even those never taxed) if you meet the one or more of these requirements:
- Those who are 55 years of age or older.
- Those who are disabled*.
- Surviving spouses or other qualifying survivors who receive retirement income due to the death of an individual who would have qualified for the exclusion.
When I first started teaching my IPERS contributions (around $9000) were taxed, but the majority of my withholdings were never taxed.
Here you go doubting Thomas. Just one of many examples on both side of the aisle. She might be the highest but several over $100m Don’t forget she outperformed all hedge fund managers in 2020-2023. She’s the best investor in the world.
Fact check: No, House Speaker Nancy Pelosi isn't worth $196 million
A Facebook post that claims House Speaker Nancy Pelosi is worth $196 million is false. Using ranges from reports, it may be half that.
www.usatoday.com
The harder I work the luckier I get. You don’t know me, sacrifices I’ve made. Wife annd I started out $120k in college debt and busted out butts, saved sacrificed and invested right.
I also have a younger brother that is 40, no desire to switch jobs content making $80-90k year in Colorado. Fixed mind set vs growth mind set.
Here’s a better list of top performers in 2023.
Congress' Top Stock Traders of 2023: Nancy Pelosi Leads with Democrats Averaging 31.18% Gains
Congress' Top Stock Traders of 2023: Nancy Pelosi Leads with Democrats Averaging 31.18% Gains
I already had some years with IPERS, I'm going to love adding on to it now. Plus, multiple Roths. Maybe I won't have to work when I'm 70
They are....hence the flat tax proposal.
Let me guess, you're also against the student loan forgiveness pandering as well? Or should we as tax payers help seniors that have lived responsibly and give them tax breaks or should we forgive loans taken knowingly by students, a few of whom attended high cost schools to get useless degrees, with a lifetime of earning potential in front of them to pay said loans back?
Yes, it is. If it weren't for the cash rent I receive from my farm ground, I wouldn't owe any Iowa state taxes. I'm not complaining, but it seems unsustainable for the state of Iowa.
Not really. I am for a consumption tax more than any other proposal.
I dont get this idea of 'well the less fortunate have to spend all of their money to survive yet the rich have more disposable income'.
We all ue the services the state provides. I dont think the poorer among us use things less. Probably more Id say.
A set percentage of income is already progressive in that the rich will always pay more in this situation. Why is percentage the 'decider' on the progressive vs regressive argument, not the total?
Gus, you need to major yourself more familiar with the student loan scheme avid who bebefitted from theee loans. The primary beneficiaries are “for profit” colleges/universities. They offered degrees of questionable repute and for the most part never helped their “graduates” finds employment…also part of the “student loan” bargain. Interestingly, Congressional oversight (Democrats and Republicans) was lacking as tgeee “for profit” schools are strongly represented by influential lobbyists. In fact there are for the record, TWO congressmen who actively tried to reign in the breadth of tge student loan program and it nay shock you they were/are two of the more liberal members of Congress….One was California congresswoman Maxine Waters and the other was ex-Iowa Senator Tom Harkin. These two led spirited debates in their respective Houses of Congress to reign in the student loan program and to have the program more vigorously regulated, but alas there was too much money to be made by the colleges involved and too much Louise monies to be given to Congressmen for re-election. Understand the entirety of the problem before shooting your mouth off not knowing what the issues might really be.
BRW, I disagree with Biden’s plan to forgive these loans across the guard….however, I believe there is a solution to this problem that is available if Congress does their job. It’s Congresses refusal to act on the problem that has “forced” Biden to take his (limited) action…the President can only EO laws… and those are limited in scope and authority.
Lots of other states dont have income tax at all. Just saying. They seem to be doing just fine with other taxing mechanisms.
We'll have this debate on another thread, another day. "Consumption" is just BS because the totality of consumption is not black and white.
Im well apprised of the situation. While I agree, I cannot speak to what Harkin did as a senator as I am not in an age cohort that would remember that level of detail.
I agree that the schools are the biggest problem. Along with the apparent loose loan requirements that allow for the borrowing of unheard-of sums of money. When unlimited money is available unlimited costs soon follow.
It isnt the students fault in many cases. They have been sold a lie regarding some degrees, reasons to even attend college, go to schools that cost way more than your ROI etc...
But, they borrowed the money. They need to pay it back. I did.
To save myself some time.....if you give me the tried and true line about 'costs far exceeding what I paid in my day' Id like you to specifically address why you think that is not simply that you think it does.
What a dumb argument. SS isn't supposed to be a tax, yet here you are equating the two. SS is a dumpster fire that needs NO more money taken away from people for it. It's a ridiculous ponzi scheme that was passed with good intentions that turned into a money pot for DC.
Lots of other states have a large tourism industry which Iowa does not.
Im well aware. Just simply stating that other taxing mechanisms exist all over the country. I just dont get the idea that one type of tax system cant work in a certain state simply because people dont like our governor or the majority party. Lots of states have zero income tax. We can certainly figure out how to make a flat tax work. Even if it is by virtue of it causing people to move here because of its construction.
I doubt you even know what you what you posted here. Good for you.
Are there other taxing mechanisms being put in place in Iowa to replace the income being lost by the flat tax and removing state taxes from retirement income?
I'm not triggered. If you want to show yourself to be an idiot, that's on you.
SS is insurance you freaking idiot. The "tax" is like a premium. Libtards
LMAO! so you mean libtards are gonna squeal like little bitches for the use of a word? I'm scared.
The problem was so many of the "old folks" moving to Florida to save State income tax. Or they just go there for 6 months and become a Florida resident. (Or, even worse, they just claim to live there for 6 months)
Those people don't pay any Iowa income tax either.
Yes. The state has a huge surplus right now. We arent predicting the future, we are refunding, via future tax code, that which has been paid prior.
