Yup. Its not illegal.
I mean it is illegal in the sense that a lot of the people claiming these deductions in their context as doctors would lose in a tax court because of the radically liberal interpretation of them but the mechanism to enforce those laws has been defunded by Republicans because crime is legal under their reign. We all have an equal opportunity to cheat the tax code now since the IRS can no longer effectively enforce it.
Well. I was referring to real estate and tax loopholes.
What real estate tax deduction do you mean?
He is probably referencing his/others abuse of the Augusta rule in an obvious tax scam to rent their personal homes to their businesses on a short term basis.
Cracking down on immigration is a waste of money until they craft a robust immigration policy.
Thats not better
They aren’t loopholes because they are law.
Correct. So people can’t complain when upper middle class people use the same tax laws as the uber rich people
All the analyses out there are incorrect.
budgetmodel.wharton.upenn.edu
Nobody's laughing, it's just that some of us have been involved in or following the ASA and its political arm for decades, and talk of a doc-fix, rural pass through, and the like has been on the agenda for DECADES. Every session, it's "so close," they say, and every session, it falls out. So let's see what actually occurs.
I gave up on the ASA a while ago. They SUCK. Piss poor job of representing physicians, IMHO. Dead piss poor job of representing anesthesia subspecialties.
Top 0.1% always kills it. The fact is that no one here or anywhere will actually vote for what’s better for their neighbor or community. We are all selfish and only vote for those who we believe will benefit ourself individually. If anyone disagrees, they are lying.All the analyses out there are incorrect.
The top 0.1% is killing it. Saving 300k+ is amazing. I understand these people pay a lot of taxes but I believe putting that money in the hand of the 2nd/3rd/4th quintile would have a better effect in stimulating the economy.
What a bunch of us here (top 5%) gonna do with that money (20k+)? Buying more stocks; speculating in the housing market preventing middle class people from owning a home. The system is rigged.
Senate-Passed Reconciliation Bill: Budget, Economic, and Distributional Effects — Penn Wharton Budget Model
We estimate the Senate-passed reconciliation bill increases primary deficits by $3.2 trillion over 10 years. The dynamic cost, including changes to the economy, is larger at $3.6 trillion. GDP falls by 0.3 percent in 10 years and 4.6 percent in 30 years.
Sorry, didn't catch that tone. 🙂
I voted for Harris despite
I vote dem. I would expect that given my income, Republican would benefit me more.
Do you vote straight dem? From house senate and local?
I vote dem for congress and pres because the GOP representatives tend to be pretty extreme maga these days. Just look at the crazy Republican candidate in Texas running around screaming that the flood was fake/ due to cloud seeding, etc.
Lets see. They fire and/or ban the climate scientists. Then they cut/fire FEMA workers.
It’s a bad bill. Only people benefits are ice immigration 45 billion dollar contractors. And rich people or people who like to do non medical independent contractors work section 199a
Whether you like or dislike the ASA is hardly the point, and in any case, whether they are good or bad at representing our interests is irrelevant; they’re the only ones doing it. My point is that we’ve been supposedly on the cusp of having all of these stupid legislative things fixed for decades, and Until it actually happens, any rumors or promises are about as useful as tits on a boar.
Really?!?! I didn’t know this about Canada. Do you have details?
Yea except they arent the only ones doing it. ASA had little to do with this bill.
Of course they had to do with this bill. Who don’t think has been lobbying congress session after session, including this one, to include these provisions in bills that generally have nothing to do with doctors and payments?
mostly? The AMA. ASA too, in part. But the ASA’s interests are unclear to me. They represent anesthesiologists AND nurses, so who's best interests are they representing exactly?
Totally agree. The left here do not get it. The left has zero interest in controlling the deficit. They don’t want to cut programs. Just add more benefits/services by increasing taxes.
That is an exceedingly generous take on the legislation that just passed. It 'slightly' increased spending?
I suppose we should at least try to recognize the attempt at ideological consistency, but the squirming here is palpable.
False. They cut taxes and spend just like the dems. Don't believe me. Look at the numbers.
I’ll agree with that.
Essentially their entire business income is a 401k. You can therefore invest all your $ within the business and only get taxed when you withdraw it later. Overall means a much lower lifetime tax burden. But again I’m not an expert at all about this sort of stuff, and this is just from some of my friends.
Do you have some data you could share to support that?
All of this was predictable, and predicted.
Oh, its not a controversial topic. Its pretty widely reported
That’s a pretty easy thing to look up. Do you disbelieve what the “data” show?
Some of the data is just pure luck. Had Clinton stayed on 8 months later. He’s been screwed
