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But if everyone still has to pay taxes at the end of the year for earnings, I don't think this would be a good idea because most people earmark most of their earnings to other costs associated with living expenses. They wouldn't have any money to pay for the taxes at the end of the year.
But if everyone still has to pay taxes at the end of the year for earnings, I don't think this would be a good idea because most people earmark most of their earnings to other costs associated with living expenses. They wouldn't have any money to pay for the taxes at the end of the year.
Reps to you.
That is the #1 criticism for this move - it's intended to stimulate the economy, but if people have to save that money to pay their tax bill after the new year, it's not going to do anything to stimulate the economy.
Import tariffs? Property taxes? Sales taxes? Any of the other hundred taxes and fees we constantly pay into the multi-trillion dollar corporation known as the government?
Trump is just absconding the $75 billion dollars from the US Postal Service. Then state that the Post Office is bankrupt.
That is the #1 criticism for this move - it's intended to stimulate the economy, but if people have to save that money to pay their tax bill after the new year, it's not going to do anything to stimulate the economy.
In all reality, they won't save money/put money aside to pay the taxes on it at the end of the year. At least the vast majority of then won't. I'd even go as far as betting that if this bill does pass, rents would increase immediately. Land lords would look at this as a windfall for them and raise rents accordingly.
In all reality, they won't save money/put money aside to pay the taxes on it at the end of the year. At least the vast majority of then won't. I'd even go as far as betting that if this bill does pass, rents would increase immediately. Land lords would look at this as a windfall for them and raise rents accordingly.
The thing is, I'd bet most people won't even realize that this will come due on tax time, and we're going to see a record amount of people owing this year (Unless we elect His Majesty who will forgive it!)
So instead of stimulating anything, it's just going to create even more debt for citizens, some of who just won't pay it.
Yep. Again, it's a pretty transparent attempt to "buy" votes. "Re-elect me and you won't have to pay this money back!"
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