[leshiggitydonatello]

Serious question. Please no trolls.

Why should someone study so hard for the CPA Exam, when they have to give 1/3 to 1/2 or more of their future income to the gov’t? This includes property taxes (even from rent), sales taxes, and other regulations (car registration, etc.). Not to mention the higher cost of goods due to higher regulations like gas, etc. Lots of people don’t ever work and have everything paid for. They live in just as good conditions as anybody that works hard (AC, internet, car, phone, etc.).

[Mr. Mini]

In my opinion, 100% of the federal budget should be discretionary. We need to start from scratch and rebuild.

[jeff]

…and low tax revenue isn't because of low rates … It's because people are unemployed/underemployed and are not making money like they used to … and Breaking News … The economy is terrible and there is no end in sight.

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[jeff]

Kricket – Mini will need to be my VP since I am a CGMA. 😀

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Anonymous]

“except that I think they are both too ethical, moral and honest to be politicians! “

That's exactly what we need!!!

It's interesting though. The government charges insane tax rates, especially here in NY, and they still don't have enough. So, they increase the tax rate more. Still not enough. So, they increase some more. Etc…..

[momto5]

It is always easy to spend other peoples' money……..

Check this out:

https://www.fee.org/library/not-yours-to-give-2/

FAR - 92 (4/27/12)
AUD - 96 (7/17/12)
BEC - 92 (8/30/12)
REG - 91 (11/12/12)

[Hitemup27]

I always get a kick out of ‘I dont' want to make more money because I'll pay more in taxes!' argument. The solution is simple then: make less money. Of course, nobody ever responds with “great idea, I think that's what I”ll do!”

I will always love to make more money, regardless of how much more in taxes I'll pay.

A - 93 - 10/25/2011
R - 92 - 1/17/2012
B - 91 - 5/31/2012
F - 93 - 10/1/2012
E - 90 - 11/17/2012

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[mla1169]

I just can't be in favor of any increase in taxes so long as people can use their EBT cards (food stamps) for tattoos, guns, cigarettes and alcohol. All entirely legal in my pathetic state, and our “Governor” won't prohibit any of that because he claims it would be degrading to the beneficiaries of my tax dollars.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Anonymous]

I've seen both sides. My spouse is a CPA Tax Manager, I'm an EA that has spent considerable time preparing returns for VITA low income clients.

We live in silicon valley, where housing, basic needs and transportation expenses makes our tax liability look like pocket change. Housing here will drain your pockets and that's living in a city with bad schools and moderate amounts of crime and blight. Try living in a so called middle class neighborhood with acceptable schools, like Palo Alto, and you're paying $1,500/month to be a roommate.

Hence, in comparison to cost of living, individual income tax isn't that big of a deal. What does upset me, in relation to my work with VITA, is the waste of our tax dollars on benefits and entitlements that encourage a growing segment of society to stay put as an underclass. This flows back to my family as substandard public education, crime, gang culture, blight and a nearly 3rd world atmosphere. My point being that we pay Tokyo prices for Mexico City standard of living.

It's not just that our standard of living is sinking, it's the policies that have allowed the lower standards to engulf the middle class lifestyle we used to expect out of our achievements.

[hoosierCPApasser]

Yes, the poor economy has led to reduced revenue and a large deficit but the the U.S. was running budget deficits to the tune of several hundred billion dollars a year even before the recession hit, which was a direct result of the two Bush tax cuts and two unfunded wars which have cost several trillion dollars. Why would we cut infrastructure, education, Social Security, and Medicare/Medicaid when those programs have had absolutely nothing to do with America's fiscal problems?

When Clinton left office the U.S. was in fantastic fiscal shape due to a good economy and the tax increases he passed in the early 1990s. The dot com bubble burst led to a moderate recession which hurt the country's finances but the Bush tax cuts severely compounded the problem while at the same time the defense budget more than doubled.

FAR (8/31/11)- 89
BEC (11/22/11)- 88
REG (4/10/12)- 91
AUD (7/16/12)- 96

License effective 12/3/12

[Mr. Mini]

@hoosier – I'm not really sure I understand your overall position. It seems to me that you are suggesting we raise taxes and keep our spending levels the same. If this is not your position, please clarify what you think should be done to fix our fiscal problems.

What has happened in the past has happened. Bush made a lot of poor decisions. Obama has done nothing to move the country forward. It is all in the past. What can we do now to move our country in the right direction? For me, it is SIGNIFICANT cuts in spending. Entitlement reform needs to be a part of the comprehensive retooling of our fiscal policies. There is no other way.

[Hitemup27]

Technology and globalization are lifting hundreds of millions out of poverty. You cannot blame any politician or political party for broad scale changes that have been happening in the US over the last 50 years. Americans are no longer the shining beacon of a model society (both socially and economically). Other models are having their mettle tested and delivering their own results. The sooner Americans realize that they need to embrace these new challenges, and re-tool their education and entitlement systems, the better they'll be able to co-exist in this dynamic and new world society. In my opinion, neither political party has the guts to really tell Americans it's not going to be a cake walk any more. At least Democrats talk somewhat about encouraging government investment in technology, etc. Republicans seem more fixated on cuts, preserving entitlements, and touting American exceptionalism, even in the face of evidence that we are anything but exceptional anymore.

A - 93 - 10/25/2011
R - 92 - 1/17/2012
B - 91 - 5/31/2012
F - 93 - 10/1/2012
E - 90 - 11/17/2012

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[kassieB]

To pass the board exam.

[Mr. Mini]

“At least Democrats talk somewhat about encouraging government investment in technology, etc.”

Yeah, this is definitely where we disagree. Our government should NOT be making investments in stuff like this (you do remember Solyndra, right?). It is up to the private sector to make these investments. What the government CAN do is encourage private sector investments by lowering tax rates and not trying to punish those people who are successful.

[Anonymous]

I have to weigh in here. These are my opinions and thanks to the First Amendment, I'm allowed to voice them.

1. Cut the budget. The only thing sacred is spending for Veterans Benefits. These men and women did fight and put their lives on the line for us. We promised to take care of them in return for their service. We need to honor that promise.

2. Lower taxes. Stop all of these stupid tax breaks and make a fair tax. I give 10% to the church so I have no problem giving 10% to the Government. “Render unto Ceaser that which is Ceasar's and render unto God that which is God's”. I realize I butchered this verse. Please feel free to correct me.

3. Term Limit ALL Elected Officials. From the local Dog Catcher to the White House. Being a politician should NOT be a career. It's a way of giving back to your country.

4. Stop the fraud in Medicare and Medicaid. If we did this, we wouldn't need Universal Health Care. Congress built a $1,000,000,000 bridge over a creek when the existing bridge needed the pot-holes patched. I say $1,000,000,000 because everything Congress and the White House do involves the word “trillion”.

5. Stop the fraud in the Food Stamp Program. I went to Child Support Court and there were 5 cases where the non-custodial parent was on multiple food stamp cases but did not appear in court because he wasn't living at any of the addresses listed. The state was giving these households food stamps to feed him and he didn't live there. No one seemed concerned about this.

6. Eliminate the Retirement Program for Congress.

7. Eliminate Collective Bargaining for all public employees. A threat to strike by teachers, law enforcement and firefighters is extortion. Extortion is defined as “Give me money or I'll hurt you or your family.” We don't need unions any more because we have government regulations that now do what unions were designed to do, protect the worker. We have OSHA, DoL, Fair Labor, Wage & Hour, Workers Comp and the list goes on and on.

8. Shut down the borders. Either come to this country legally or go home. Don't put them in jails or holding facilities. Send them HOME!

9. Fine people for filing frivolous law suits. Right now the courts are clogged with law suits that are ridiculous. If you burn your thighs on hot coffee from McDonalds, you shouldn't get a penny! If you were stupid enough to put hot coffee between your legs, you are an idiot. Use a cup holder. Not the courts.

10. Contract postal services to UPS or FedEx. They are more reliable and cheaper. Send postal services out for bid once every 10 years.

11. Eliminate NAFTA. Bring our jobs home or tax the hell our of companies who outsource them to foreign countries.

12. Eliminate duplicate agencies. The Fed Dept of Education should be the first one to go. What do we need it for? We have local school boards and state school boards, both of which are funded with tax dollars from that school district.

I think these would make a start on fixing some of our economic problems and I could go on. But like I said, these are my opinions and I will stand on the First Amendment. Congress needs to stop bickering about things that don't mean crap in the grand scheme of things. I have a 2nd Amendment right to bear arms. End of story. We don't need any congressional hearings to determine whether or not that right extends to particular weapons. Besides, a drum of amonium nitrate and another drum of diesel fuel are far more dangerous than my Ruger P89. I only mention this because my 2nd Amendment rights are just as important as my 1st Amendment rights. Feel free to disagree with me. I don't care. Those men and women I mentioned in #1 fought for your right to do so.

I'm off my soap box. Have a nice day!

[Anonymous]

@Mr. Mini

I can see based on your other posts that you like to do nothing MORE than to troll! Your views seem like those of the Tea Party…I do not know why “Tea Partyers THINK they are Republicans Lol Just so you know I am a registered Republican 🙂 A moderate more specifically…I just have the common sense to vote for the RIGHT person who cares about the American people and not about their overseas accounts headed by blind trustees. Just so you know MOST rep. DO NOT like Mitt Romney BUT they rather the country go even more down the shitter just to “de-throne” Obama. It really is sad and quite pathetic but w/e.

So before you start “spouting off” I hope you take a GOOD HARD look at that money being taken out of your paycheck and remember how people like Romney doesn't pay one dime out of theirs! But thanks to people like you, his friends can sit on NICE hefty Billions, No I mean trillions NOT creating jobs like he says they do. Where are the jobs? Hello don't see ANY!

Poking holes in your claims would LITERALLY TAKE ME HOURS! I'm not even kidding! I will never understand why people like you support the blood sucking vamps of our nation like the Legislative branch AND the IRS! Keep in mind that these “people” that you seem to be in love with DO NOT CONTRIBUTE to the IRS piggy bank. So IF we “taxpayers” have to contribute to this pot of luck then I think we should have a say in how OUR money is being spent!

IDK like paying for SS, Medicare, stuff like that us “younger” people will POSSIBLY NOT have when WE NEED IT! I'm not sure If I know anybody who wants to pay for something that is not benefiting them. But I am sure that you'd make the same argument about Obamacare, not benefiting us well neither is the IRS!

The IRS is a scam! I will NEVER support the IRS, not now and not ever! Just because you do not like the IRS does not mean you are against the government. Maybe you should research the IRS and their ‘scadals'>>>>>Douglas H. Shulman is the current Commissioner of Internal Revenue. google more about him 🙂

Its funny how the GOP only support the government when they NEED them….just lovely. Mitt Romney says “Oh the “government didn't help me build my business!” The lets take back OUR taxpaying dollars that built the infrastructure that YOUR companies rely on!

@hoosierCPApasser

“Yes, the poor economy has led to reduced revenue and a large deficit but the the U.S. was running budget deficits to the tune of several hundred billion dollars a year even before the recession hit, which was a direct result of the two Bush tax cuts and two unfunded wars which have cost several trillion dollars. Why would we cut infrastructure, education, Social Security, and Medicare/Medicaid when those programs have had absolutely nothing to do with America's fiscal problems?”

Thank you! Someone with a brain and common sense! 🙂

@earob

“Hence, in comparison to cost of living, individual income tax isn't that big of a deal. What does upset me, in relation to my work with VITA, is the waste of our tax dollars on benefits and entitlements that encourage a growing segment of society to stay put as an underclass. This flows back to my family as substandard public education, crime, gang culture, blight and a nearly 3rd world atmosphere. My point being that we pay Tokyo prices for Mexico City standard of living.

It's not just that our standard of living is sinking, it's the policies that have allowed the lower standards to engulf the middle class lifestyle we used to expect out of our achievements.”

EXACTLY! and these standards have been depleting WAYY before Obama.

Here some extra insight:

https://blogs.reuters.com/great-debate/2012/01/13/a-shrinking-middle-class-means-a-shrinking-economy/

@Jeff

“.and low tax revenue isn't because of low rates … It's because people are unemployed/underemployed and are not making money like they used to … and Breaking News … The economy is terrible and there is no end in sight.”

“underemployed” Some companies grant it really have no choice to remain underemployed but then you have the greedy bastards that do it well just for greed. Thanks Wall Street! Big4, Wells, JP, BAC etc they are ALL guilty of the mean green bug.

And high tax rates has no adverse effects like some claim as well. Just look back during the Clinton Legacy! 🙂 Higher tax rates, lower deficits and MORE JOBS! Please someone denounce this if this is not true.

I don't care about the claims Romney makes BUT he STILL CANNOT and WILL NOT IN DETAIL explain his economic plans to lower the deficits. And for pete's sake, stop saying we CANNOT tax the job creators dude!They are not creating anything! Hece, why the employees that are currently working are being victimized by big corporations who continue to make biliions while us “middle class workers” income CONTINUES to drop. Do they care? NO! So why are some of you [Mr .Mini]*cough cough* act like they do?

@Hitmeup27

“At least Democrats talk somewhat about encouraging government investment in technology, etc. Republicans seem more fixated on cuts, preserving entitlements, and touting American exceptionalism, even in the face of evidence that we are anything but exceptional anymore.”

Thank you for saying this! My exact point! 🙂 Totally in agreement

Its one thing to say they are not doing anything but GOP refuses to do ANYTHING! But they will take off [like,Boehner, Cantor, Rush,sorry had to toss him in there lol] to go play golf and sip margaritas while people are losing homes, becoming homeless because their unemployment is running out and those companies that SWEAR they create jobs are doing ANYTHING they can to take advantage of the bad economy.

Why pay [lets say]an Accountant 60k[even if it is deserved] when some out of college student is desperate for a job and willing to work for LESS [even if they deserve the 60k salary too]? Do you think greedy corps. have not thought about this? Greedy people will do ANYTHING for greed, even if it means bringing a country to its knees.

Keep in mind what happened to the Macedonian Empire after 600 years of reign or heck the Roman empire, I can go on. But they all crumbled from the same problem we are facing.

So legislators need to tighten up.

Alright, that's enough for today! Anymore, and I would have to write a book! Lol Heck, got the time since jobs are few and far between, why not?

[Author]

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