Hoping Clarence and Ginni Thomas are at the top of the review stack going back 7 years (or whatever the max is) and perhaps Congress should be requesting to see their taxes too, for transparency into their other investigation, to see if it truly was just the financial disclosures that needed amending or maybe a little tax evasion was happening along with the coup orchestrating? So many questions!
Didn't a recent President specfically target the two most recent heads of the FBI for an extremely rare, up your ass with a steel-barbed-covered microscope IRS audit?
Yes, my thought is that those were without cause, just retaliatory or malicious in nature. All digging, IMO, into the Thomas couple is warranted and then some!
I absolutely can’t understand how some yokel from Podukah doesn’t cheer at this news. I mean, sure, he lives in a Faux-infused bubble, but how can there be anything in “Rich people are gonna pay more in taxes” that he doesn’t like?!? I guess it comes down to the fact he’s been conditioned to disbelieve anything said by a Democrat, thus to him it’s just more lies, especially when Faux threatens his granny…
John Oliver should buy time on the Fox affiliate in Podukah for a cath cowboy commercial talking about how all those rich, Hollywood liberals will be singing a different tune when they wake up to an army of IRS agents outside their door.
Great work, once again, by President Biden, well-explained by the Washington Post. We should salute this moment of real journalism because as WAPO transitions to being a Rubert Murdoch flunky-run rag, future stories on something like this will have a headline like, "Biden Administration Hurts Job Creators."
"Republicans launched a disinformation campaign, with help, as always, from Fox News, claiming that the IRS was hiring an army of 87,000 stormtroopers who would be busting down the doors of small businesses and auditing — probably at gunpoint!!!! — sweet grandmothers who sell crafts on Etsy."
This practically gave the Republicans a talking point. All they had to do was combine a program to hire new IRS employees and buying guns to get "87,000 armed IRS agents" and they've got a line to use from the day the bill was proposed in Congress till the 2024 elections.
To rebut that:
1) Many of those agents are replacing retirees.
2) It's to focus on auditing high-income taxpayers
3) The guns are to protect IRS facilities that might be targets of extremists and to pursue violent people who are committing tax fraud.
Getting through that exceeds the attention span of the average American voter.
It's like debating abortion. Opponents can sum it up very simply: "We want to save innocent babies!" It takes effort to defend abortion beyond we want women to have that choice.
The biggest scofflaw landlord in my neighborhood probably does this as the ownership of his property changes from one of his LLCs to the other. You go, IRS.
The purpose of an LLC is ostensibly to separate business assets from personal assets, and business activity from personal activity, thus protecting your personal assets in the event of a lawsuit or other claim against your business. Business owners routinely abuse this sheltering power to pull tax fuckery as well as to hide the identities of real human individuals involved in unsavory or illegal business activities. The fact that LLC laws vary from state to state makes it especially difficult to hold poeple accountable for this stuff (Delaware, for example, is basically an offshore haven for shady LLCs, even though it is part of the continental United States.) There needs to be a national law to create some kind of uniform code that prevents people from escaping accountability for actions done in the name of their LLCs. Good luck getting it through a republican-controlled Congress, though, and good luck convincing a bunch of SCOTUS hacks to defy their billionaire sugar daddies upholding such a law if it were passed by some miracle.
Another fun tax trick - if you're Jeff Bezos, and you're buying a $500 million yacht to sail around with your blow up Barbie doll, you have to sell $750 million dollars of your Amazon stock to pay for it, right? Nope, what you do is take out a loan against your stock from a bank, and don't pay any taxes at all, but you still get your bimbo yacht, your feeder yacht, AND you don't pay any taxes! I'm not 100% sure you can use the interest on the loan as a tax write-off, but you probably can!!!! It's good to be rich.
Well, it's not like the guy has a garden full of Nazi memorabilia or anything. What's that? He DOES have a garden full of Nazi memorabilia? Hmmm...this guy might not be a good apple.
Ta, Dok. Whatever will the poor little rich kids do now?
Hoping Clarence and Ginni Thomas are at the top of the review stack going back 7 years (or whatever the max is) and perhaps Congress should be requesting to see their taxes too, for transparency into their other investigation, to see if it truly was just the financial disclosures that needed amending or maybe a little tax evasion was happening along with the coup orchestrating? So many questions!
Didn't a recent President specfically target the two most recent heads of the FBI for an extremely rare, up your ass with a steel-barbed-covered microscope IRS audit?
Yes, my thought is that those were without cause, just retaliatory or malicious in nature. All digging, IMO, into the Thomas couple is warranted and then some!
"If Black people have nothing to hide, they have nothing to fear from the police! Also, how dare you take a close look at my tax practices."
Yay IRS! Now do churches!!! 👏🏼😁👍🏼💪🏼
Frank, care to chime in?
https://www.youtube.com/watch?v=58nn9urwLcw
There needs to be a renewed call for TFG to release his taxes.
Immediately.
The IRS needs to perform the audits on the years he was in the White House that they never did even though they’re required by law.
YES!!!
I absolutely can’t understand how some yokel from Podukah doesn’t cheer at this news. I mean, sure, he lives in a Faux-infused bubble, but how can there be anything in “Rich people are gonna pay more in taxes” that he doesn’t like?!? I guess it comes down to the fact he’s been conditioned to disbelieve anything said by a Democrat, thus to him it’s just more lies, especially when Faux threatens his granny…
John Oliver should buy time on the Fox affiliate in Podukah for a cath cowboy commercial talking about how all those rich, Hollywood liberals will be singing a different tune when they wake up to an army of IRS agents outside their door.
"For the good of the econo-meeeee!"
Great work, once again, by President Biden, well-explained by the Washington Post. We should salute this moment of real journalism because as WAPO transitions to being a Rubert Murdoch flunky-run rag, future stories on something like this will have a headline like, "Biden Administration Hurts Job Creators."
𝘋𝘦𝘱𝘶𝘵𝘺 𝘛𝘳𝘦𝘢𝘴𝘶𝘳𝘺 𝘚𝘦𝘤𝘳𝘦𝘵𝘢𝘳𝘺 𝘞𝘢𝘭𝘭𝘺 𝘈𝘥𝘦𝘺𝘦𝘮𝘰 𝘵𝘰𝘭𝘥 𝘳𝘦𝘱𝘰𝘳𝘵𝘦𝘳𝘴 𝘵𝘩𝘢𝘵 “𝘛𝘩𝘦𝘴𝘦 𝘵𝘳𝘢𝘯𝘴𝘢𝘤𝘵𝘪𝘰𝘯𝘴 𝘥𝘰𝘯’𝘵 𝘤𝘳𝘦𝘢𝘵𝘦 𝘢𝘯𝘺 𝘦𝘤𝘰𝘯𝘰𝘮𝘪𝘤 𝘢𝘤𝘵𝘪𝘷𝘪𝘵𝘺 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘜𝘚. 𝘛𝘩𝘦𝘪𝘳 𝘴𝘰𝘭𝘦 𝘱𝘶𝘳𝘱𝘰𝘴𝘦 𝘪𝘴 𝘵𝘰 𝘳𝘦𝘥𝘶𝘤𝘦 𝘵𝘢𝘹 𝘣𝘪𝘭𝘭𝘴.”
In other words, theft.
Or, hear me out, aggressive, creative accounting!
upon mature deliberation, i think i like "theft" better
¿Porque no los dos?
"Republicans launched a disinformation campaign, with help, as always, from Fox News, claiming that the IRS was hiring an army of 87,000 stormtroopers who would be busting down the doors of small businesses and auditing — probably at gunpoint!!!! — sweet grandmothers who sell crafts on Etsy."
This practically gave the Republicans a talking point. All they had to do was combine a program to hire new IRS employees and buying guns to get "87,000 armed IRS agents" and they've got a line to use from the day the bill was proposed in Congress till the 2024 elections.
To rebut that:
1) Many of those agents are replacing retirees.
2) It's to focus on auditing high-income taxpayers
3) The guns are to protect IRS facilities that might be targets of extremists and to pursue violent people who are committing tax fraud.
Getting through that exceeds the attention span of the average American voter.
It's like debating abortion. Opponents can sum it up very simply: "We want to save innocent babies!" It takes effort to defend abortion beyond we want women to have that choice.
“The rich should pay, too!” is pretty simple.
I mean, it helps that neither they nor their base give a shit about actual facts.
The biggest scofflaw landlord in my neighborhood probably does this as the ownership of his property changes from one of his LLCs to the other. You go, IRS.
Until people go to prison nothing will change.
If Grandma Millie is a fucking billionaire/millionaire tax cheat then she should go to jail, just like the owner of MomCorp (Futurama)
The purpose of an LLC is ostensibly to separate business assets from personal assets, and business activity from personal activity, thus protecting your personal assets in the event of a lawsuit or other claim against your business. Business owners routinely abuse this sheltering power to pull tax fuckery as well as to hide the identities of real human individuals involved in unsavory or illegal business activities. The fact that LLC laws vary from state to state makes it especially difficult to hold poeple accountable for this stuff (Delaware, for example, is basically an offshore haven for shady LLCs, even though it is part of the continental United States.) There needs to be a national law to create some kind of uniform code that prevents people from escaping accountability for actions done in the name of their LLCs. Good luck getting it through a republican-controlled Congress, though, and good luck convincing a bunch of SCOTUS hacks to defy their billionaire sugar daddies upholding such a law if it were passed by some miracle.
Nice times, eh?
Fuck Ted Cruz.
evergreen
Another fun tax trick - if you're Jeff Bezos, and you're buying a $500 million yacht to sail around with your blow up Barbie doll, you have to sell $750 million dollars of your Amazon stock to pay for it, right? Nope, what you do is take out a loan against your stock from a bank, and don't pay any taxes at all, but you still get your bimbo yacht, your feeder yacht, AND you don't pay any taxes! I'm not 100% sure you can use the interest on the loan as a tax write-off, but you probably can!!!! It's good to be rich.
you can
Whew! Thank goodness, I'd hate to think of Bezos NOT being able to write that interest off on his taxes.
Sounds like Lethal Weapon 2.
You also gotta love the way the bankruptcy code was written so that you could write off your second and further residences, but not your primary one.
You could be like Harlan Crow and claim your yacht is used for charter, when it is not, and claim "losses" as business expense deductions.
What a crook.
Well, it's not like the guy has a garden full of Nazi memorabilia or anything. What's that? He DOES have a garden full of Nazi memorabilia? Hmmm...this guy might not be a good apple.
It's good policy, hope they catch a few more of these cheats.