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Old 05-24-2019, 10:24 AM
 
6,089 posts, read 4,987,805 times
Reputation: 5985

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Quote:
Originally Posted by TaxPhd View Post
Tell us all about these loopholes. . .
Yes, the "loop hole" slur is a common one used against those who invest.
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Old 05-24-2019, 08:02 PM
 
Location: Naples FL
603 posts, read 442,904 times
Reputation: 912
But I really want to know where these mysterious loopholes are ...

I could use a few here and there
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Old 05-24-2019, 11:04 PM
 
10,743 posts, read 5,672,124 times
Reputation: 10873
Quote:
Originally Posted by eds_ View Post
don't you just love the, "loophole" shuffle?
Quote:
Originally Posted by calirestoration View Post
yes, the "loop hole" slur is a common one used against those who invest.
Quote:
Originally Posted by taksan View Post
but i really want to know where these mysterious loopholes are ...

I could use a few here and there
rotfl!!
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Old 05-25-2019, 04:42 AM
 
8,005 posts, read 7,221,727 times
Reputation: 18170
How did the nobility convince the peasants to go to bat for them in the income tax discussion?
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Old 05-25-2019, 12:10 PM
 
5,907 posts, read 4,431,507 times
Reputation: 13442
Quote:
Originally Posted by 1insider View Post
How did the nobility convince the peasants to go to bat for them in the income tax discussion?
You know, I spent around the last decade in tax. At first, with small time tax work in CPA firms as a student, to international CPA firms, to eventually pouring over the code in the corporate side for some of the largest corporations in the world. I still don’t know what these secret loopholes are! Is it trumps infamous “tax depreciation?!?”.

But you know, I’d love CD users to explain these gosh darn loopholes to me so I can impress my big boss man VP and our corporate masters.

I wanna peice of the pie you know?

Hell since more than a third of the IRS is 55 or older, I could come in and skyrocket to GS 12 when I uncover and close down these evil tax payer schemes. Get my old pension locked up.
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Old 05-25-2019, 06:05 PM
 
Location: Silicon Valley
7,650 posts, read 4,599,879 times
Reputation: 12713
Quote:
Originally Posted by 1insider View Post
How did the nobility convince the peasants to go to bat for them in the income tax discussion?

I started poor. I didn't stay that way. My sister started the same. She chose a path that she knows she will always remain poor. She's smart. She understands the graduated income tax rates. Why would she be mad about this?


So you have poor, and you have trash. The two are not the same. How much more housing would be available for the poor if we didn't attempt to house EVERYONE? How many lifestyles would change if there were standards to still be maintained and simply being poor was the qualifier?


You've all done it. Walked into a poor person's home that is tidy, modest but well kept. Walked into a poor person's home that is squalor and an epitome to bad decision making on a continuous basis. I have ADD. Personally I hate other people with ADD that blame everything on the condition. These mofos tend to be the loudest about it as well. It makes it harder for people like me.



Everyone qualifies for income tax. But if 40% of the people are dropping their EIC at the liquor store or corner...and making a mess of things in the process....Maybe even someone that receives it is like....not this isn't working.



My sister called me after the last local election. She said, you know....I heard them keep saying all this stuff would be free for people like me....but I didn't like the definition of people like me. I also didn't hear anyone say how it would be paid for. I knew it wouldn't work. I voted against it.
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Old 05-26-2019, 01:26 PM
 
21,932 posts, read 9,503,108 times
Reputation: 19456
Quote:
Originally Posted by Taksan View Post
But I really want to know where these mysterious loopholes are ...

I could use a few here and there
Me, too.
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Old 05-27-2019, 11:00 AM
 
10,609 posts, read 5,648,891 times
Reputation: 18905
Quote:
Originally Posted by movingvanmorrison View Post
Are you super rich or are you a fool?
One is a fool if one supports the policies designed for the rich (like tax loopholes that allow them to pay less taxes than a lower middle or middle class person) yet don't reap any of their benefits.



So which is it?
Please enlighten us: Please identify 5 tax loopholes.
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Old 05-27-2019, 02:19 PM
 
Location: Spain
12,722 posts, read 7,575,805 times
Reputation: 22639
(bracing myself for the inevitable out-of-context and usually misstated reference to Warren Buffet's secretary)
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Old 05-27-2019, 05:59 PM
 
Location: Ruidoso, NM
5,667 posts, read 6,595,121 times
Reputation: 4817
Quote:
Originally Posted by lieqiang View Post
(bracing myself for the inevitable out-of-context and usually misstated reference to Warren Buffet's secretary)
Then let's make sure we get the quote precisely correct: https://www.nytimes.com/2011/08/15/o...rich.html?_r=0

"OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.

What I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent."
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