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Biden's weaponized IRS is coming for your Venmo account
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12-21-2022, 10:24 AM
(This post was last modified: 12-21-2022, 10:45 AM by mikesez. Edited 1 time in total.)
(12-21-2022, 10:17 AM)Lucky2Last Wrote:(12-21-2022, 08:53 AM)mikesez Wrote: This podcast I was listening to brought in a British-Indian economist, and he commented that Americans already comply with taxes far beyond what most people in other countries do. He pointed out that most Americans will spend hours to check math that only adds up to a few dollars of difference in their tax liability, just because we have a cultural obsession with accuracy and compliance, according to him. And he thought this new effort to create even greater levels of compliance was just nutty. Conceptually, yes, reduced spending is an alternative. But in reality, even Trump wasn't willing to spend much capital on it. It's not politically feasible to adopt a policy most people don't want I agree that folks like AOC endorse MMT, but I doubt Biden or most of his advisors do. If they did, 8% inflation disabused them of it. And I definitely wish the tax code was simpler. I was a fair tax guy and a flat tax guy. I fully agree with everything you said about that. But again, not feasible unless you're willing to endure an onslaught from all the wealthy special interests exploiting loopholes today - not just corporations but many scions you have never heard of. Perhaps some stricter enforcement might be the harsh medicine we need to unlock some consensus around simplifying the code.
My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.
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