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OMG, Look Who Else Got Their Taxes Wrong!
Topic Started: Feb 18 2009, 02:55 PM (576 Views)
Mark
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HOLY CARP!!!
The income tax is an abomination.

We need to get rid of it. NOW!
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When I see an adult on a bicycle, I do not despair for the future of the human race. H.G. Wells
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Renauda
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HOLY CARP!!!
I don't think it is near as complicated as yours. If for example we win the the Million Dollar Lottery or a million dollars in Vegas the winnings are not taxable. Only the interest earned from the invested winnings during a given tax year.

EDIT: we also do not have an inheritance or, as you call it, a death tax.
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QuirtEvans
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I Owe It All To John D'Oh
George K
Feb 18 2009, 04:54 PM
QuirtEvans
Feb 18 2009, 04:46 PM
I didn't follow the Daschle/Emanuel issues, but I'm pretty sure Geithner paid the back taxes. So, what deal you talkin' about?

(I'd also bet that Emanuel did, too.)
http://www.commentarymagazine.com/blogs/index.php/thayer/53871
Quote:
 
Rahm Emanuel. It appears that the former congressman found a handy way to save money. Most members of Congress find themselves having to support two households — one in their home district, and one in or around DC. Some members, in the past, have ended up sharing apartments or town houses. Emanuel took that one step further: he moved into the home of his colleague, Rosa DeLauro (D-CT), staying there for five years. Rent-free.

To most people, this is “imputed income” — non-financial gifts or compensation that should be reported to the IRS. Emanuel and DeLauro defend their conduct by saying that House ethics rules permit “hospitality between colleagues.”


Does anyone you know live with their boyfriend or girlfriend, without paying rent?

You ever hear of someone sleeping on a friend's couch without paying rent?

When some of the members here sleep at someone else's house for a piano party, is their failure to pay rent imputed income?

OT's in big trouble, he and the family stayed here for more than a week. I didn't charge him rent, so I hope he's planning on declaring that on his income taxes.
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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Mikhailoh
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If you want trouble, find yourself a redhead
No one I know that sleeps on someone else's couch does it for five years in a highly desirable and rentable townhouse in Georgetown. Nor are they subject to the same ethics disclosure rules. Nor are they able to swing contracts the way of the host.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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QuirtEvans
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I Owe It All To John D'Oh
Mikhailoh
Feb 18 2009, 07:14 PM
No one I know that sleeps on someone else's couch does it for five years in a highly desirable and rentable townhouse in Georgetown. Nor are they subject to the same ethics disclosure rules. Nor are they able to swing contracts the way of the host.
"swing contracts the way of the host" ... you think another Congressperson is in the market for lucrative contracts?

And, if it's for her constituents, I have news for you ... that happens every day of the week. They even have a hundred year-old term for it ... "log-rolling".
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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QuirtEvans
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I Owe It All To John D'Oh
Quote:
 
No one I know that sleeps on someone else's couch does it for five years in a highly desirable and rentable townhouse in Georgetown.


Really? You know of no couples who've lived together for five years without marriage, where one party owned the dwelling or paid the rent?
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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Mikhailoh
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If you want trouble, find yourself a redhead
Quirt, once again, you are wrong and you are arguing to hear yourself argue. No merit whatsoever and you know it.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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QuirtEvans
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I Owe It All To John D'Oh
Mikhailoh
Feb 18 2009, 07:31 PM
Quirt, once again, you are wrong and you are arguing to hear yourself argue. No merit whatsoever and you know it.
Mik, you are such a blowhard. Not only do you decide what's right and what's wrong for everyone, but you even tell them what they believe and why they write what they write.

If you want to have a God complex, you'll have to go to medical school and become a surgeon. Until then, Karnak, your powers of omniscience are failing.
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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Mikhailoh
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If you want trouble, find yourself a redhead
Yeah Quirt.. I'm the one who tells everyone what the rules are.. :lol2: :lol2: :lol2: :lol2: :lol2: :lol2: :lol2: :lol2: :lol2: :lol2: :lol2: :lol2: :lol2: :lol2:

Truly - no snark - I love your sense of humor. You have taken irony to such artistry.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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George K
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Finally
Daschle stepped down because of free rides that he got. Quirt, do you know of anyone that got a free ride to go shopping, or to work, and didn't report that as income? Sure you do. So, why is it a problem for Daschle and not for Rahmbo?
A guide to GKSR: Click

"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

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- Klaus, 4/29/18
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QuirtEvans
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I Owe It All To John D'Oh
George, I've said, I didn't pay attention to the facts of the Daschle case.

If you got free rides from a company that offers taxi or limo services, that's different than getting free rides from your next-door neighbor. If a friend lets you stay in a spare bedroom, that's different than the Hilton Hotel giving you the Presidential suite for free.
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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Mark
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HOLY CARP!!!
Why?

What a bunch of crap. No "income" was realized. No "wages" were paid.

God I hate this bullsh!t.
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Mikhailoh
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If you want trouble, find yourself a redhead
Why? Ethics, Mark. Do you believe anyone ought to be giving government officials anything they want and be able to keep that hidden?
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Mark
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HOLY CARP!!!
No but it should have absolutely nothing to do with "taxable" income.
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QuirtEvans
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I Owe It All To John D'Oh
The reason it works that way, Mark, is to avoid having the entire country become a barter economy in an effort to avoid income taxes.

Let's say you're a carpenter. Your landlord can hire you to do some work ... instead of paying you, he gives you free rent. Suddenly, you have no income from the carpentry work you're doing, and the landlord doesn't have rental income. Meanwhile, everyone else is paying their taxes like they're supposed to do.

That's why there is a concept of imputed income.

You don't agree with the income tax system as a whole. Fine. But, once you have a system, you have to make sure that everyone plays fairly under it, and that everyone pays their fair share. Surely you can see that. Otherwise, the people who pay their taxes are subsidizing those that aren't.
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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Mark
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HOLY CARP!!!
How can taxes be paid if there is no income (i.e. No money to pay the taxes) Quirt?

Are you going to force people into debt to pay this abomination?

Oh wait, we already do.

It's stupid. It's intrusive and it needs to be abolished.
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When I see an adult on a bicycle, I do not despair for the future of the human race. H.G. Wells
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1hp
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Fulla-Carp

Remember what started the last American Revolution - "No taxation without representation". (Hello, Ahhhnold......another 5% ???)

George Santayana: "Those who cannot remember the past are condemned to repeat it."
There are 10 kinds of people in this world, those that understand binary and................
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QuirtEvans
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I Owe It All To John D'Oh
Mark
Feb 19 2009, 08:46 AM
How can taxes be paid if there is no income (i.e. No money to pay the taxes) Quirt?

Are you going to force people into debt to pay this abomination?

Oh wait, we already do.

It's stupid. It's intrusive and it needs to be abolished.
Nothing forces you to accept barter instead of pay for your services. You want cash, you need cash, insist on cash.

Imputed income is simply saying that barter vs. cash are treated in an equivalent fashion for tax purposes. If you can ignore for even a millisecond your fundamental opposition to income taxes, you could see that that is a fair outcome. Otherwise, some people would evade income taxes by using barter transactions, and everyone else would bear a larger proportional burden.

Now, if you have no money to pay your taxes ... sell something, or as I said earlier, insist on being paid in cash.

1hp ... I can only hope that you, like a few others around here who talk of the need for a revolution, aren't really seriously expecting one to happen. Because, it isn't going to happen. Take that to the bank. I'll be happy for you to hold me to that prediction, if you're seriously predicting a revolution and are willing to be held to your prediction.
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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Mark
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HOLY CARP!!!
Again, I should not be forced to sell something to pay a tax on something for which I never received "income".

That we have surrendered our liberty in such a manner is unfathomable to me.
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When I see an adult on a bicycle, I do not despair for the future of the human race. H.G. Wells
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Improviso
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HOLY CARP!!!
QuirtEvans
Feb 19 2009, 08:59 AM
I can only hope that you, like a few others around here who talk of the need for a revolution, aren't really seriously expecting one to happen. Because, it isn't going to happen. Take that to the bank.
Quirt's right. It ain't going to happen. The best we can hope for are politicians that see the need to reduce taxation rather than increase spending. I don't see that happening anytime soon, unfortunately...

Identifying narcissists isn't difficult. Just look for the person who is constantly fishing for compliments
and admiration while breaking down over even the slightest bit of criticism.

We have the freedom to choose our actions, but we do not get to choose our consequences.
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QuirtEvans
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Mark
Feb 19 2009, 09:05 AM
Again, I should not be forced to sell something to pay a tax on something for which I never received "income".

That we have surrendered our liberty in such a manner is unfathomable to me.
It depends on how you define "income".

I recognize that you'd prefer to define income as narrowly as possible ... in fact, so narrowly that the concept disappears ... but, under tax law, receiving a thing of value is generally either income, or a gift. This is nothing new. If it's in return for services rendered, it's almost always treated as income.

Quote:
 
I should not be forced to sell something to pay a tax on something for which I never received "income".


If you don't want to treat that thing, whatever it might be, as "income", don't accept it. If you don't accept it, you won't have an income tax liability associated with receipt of it.

If you want to accept it, there are certain consequences that go along with that acceptance.
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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Improviso
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HOLY CARP!!!
But I'll tell ya how I fight it in my own little way...

I had a landline down at the bay. The phone charge part of it was something like 16 bucks. But there was a total of 12 bucks added to the bill for various fees and taxes. I said screw it and cancelled the phone service. And I'm looking for more ways to cut the taxes I pay, however small they may be.

I like to think of it as a game. The man screws me and I try to screw him back. :D
Identifying narcissists isn't difficult. Just look for the person who is constantly fishing for compliments
and admiration while breaking down over even the slightest bit of criticism.

We have the freedom to choose our actions, but we do not get to choose our consequences.
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1hp
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Fulla-Carp

Quirt - why do you say that? We live in a world where 12 year old kids are given guns and sent out to support rebel armys. Beheadings are televised. Dictators and despots still exist. Drug traffickers rule countries with terror. Even China has social unrest issues. The US has a history of social unrest, it just didn't spread.

If you think your country is so safe, why don't you take a walk through South Central LA after midnight.

There are predictions of rebellions out there:

Celente from Wikipedia

On November 14, 2008, Celente appeared on Fox Business Network and predicted economic depression, tax rebellions, food riots, and more concern for buying food than Christmas presents by 2012 in the United States.[1][12] Celente also has predicted in his Top Trends of 2009 newsletter that governments across the country would be squeezing the little guy for every last dime wherever it could.

Celente also predicts in 2009 and beyond food-producing gardens will become common on people's lawns, as resources generally become more scarce. Celente says to escape the mood of economic depression people will be delighting in entertainment and alcohol. Other predictions for 2009 and beyond include a possible revolutionary advance in renewable energy technologies, miracle cures from stem cell research, a shift toward holistic healing practices, and a crash of the overpriced college-industrial complex.



Finacial Crisis could launch Social Unrest says UN Chief

“If not handled, today’s financial crisis will become tomorrow’s human crisis. Social unrest and political instability will grow, exacerbating all other problems,” he said, declaring open the Follow-up International Conference on Financing for Development

The ultimate danger would be a cascading series of crises, each building on the other, with potentially “devastating” consequences for all, he said.


Crisis heightens danger of global social unrest

"We're facing two major risks: one is social unrest and second is protectionism," Lagarde said on Saturday. The catalysts for these risks are using taxpayer money in rescue plans, and slowing growth, she said.

Economic hardship and rising unemployment have already sparked riots in Greece, Bulgaria, Latvia, Lithuania and Madagascar, and weeks of demonstrations helped bring down the government in Iceland.

Last week, more than a million people took to the streets of French cities to protest, and thousands marched in Russia on Saturday. 'Buy Local' campaigns have sprouted in the United States, and thousands of British employees have staged walkouts against the use of foreign contract workers.

There are 10 kinds of people in this world, those that understand binary and................
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QuirtEvans
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I Owe It All To John D'Oh
1hp
Feb 19 2009, 09:33 AM

Quirt - why do you say that? We live in a world where 12 year old kids are given guns and sent out to support rebel armys. Beheadings are televised. Dictators and despots still exist. Drug traffickers rule countries with terror. Even China has social unrest issues. The US has a history of social unrest, it just didn't spread.

If you think your country is so safe, why don't you take a walk through South Central LA after midnight.

There are predictions of rebellions out there:

Celente from Wikipedia

On November 14, 2008, Celente appeared on Fox Business Network and predicted economic depression, tax rebellions, food riots, and more concern for buying food than Christmas presents by 2012 in the United States.[1][12] Celente also has predicted in his Top Trends of 2009 newsletter that governments across the country would be squeezing the little guy for every last dime wherever it could.

Celente also predicts in 2009 and beyond food-producing gardens will become common on people's lawns, as resources generally become more scarce. Celente says to escape the mood of economic depression people will be delighting in entertainment and alcohol. Other predictions for 2009 and beyond include a possible revolutionary advance in renewable energy technologies, miracle cures from stem cell research, a shift toward holistic healing practices, and a crash of the overpriced college-industrial complex.



Finacial Crisis could launch Social Unrest says UN Chief

“If not handled, today’s financial crisis will become tomorrow’s human crisis. Social unrest and political instability will grow, exacerbating all other problems,” he said, declaring open the Follow-up International Conference on Financing for Development

The ultimate danger would be a cascading series of crises, each building on the other, with potentially “devastating” consequences for all, he said.


Crisis heightens danger of global social unrest

"We're facing two major risks: one is social unrest and second is protectionism," Lagarde said on Saturday. The catalysts for these risks are using taxpayer money in rescue plans, and slowing growth, she said.

Economic hardship and rising unemployment have already sparked riots in Greece, Bulgaria, Latvia, Lithuania and Madagascar, and weeks of demonstrations helped bring down the government in Iceland.

Last week, more than a million people took to the streets of French cities to protest, and thousands marched in Russia on Saturday. 'Buy Local' campaigns have sprouted in the United States, and thousands of British employees have staged walkouts against the use of foreign contract workers.

As I said, I'll take the other side of that bet. Will ten years do ya? Name the amount, George can hold it for both of us. And George can decide whether three guys and a pop gun count as a revolution.
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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