Taxes Abroad

02/03/2025

Let’s just all admit that not having income tax at all is a fairy tale. So given that, we want it to be fair and we want as many taxpayers in the “pool” as possible. That’s why government is different than business - a government is trying to give “The People” what they need to care for them with the intent that healthy, happy people to work and contribute taxes. I don’t think the current administration understands how to audit nor their purpose. By cutting social programs they are making people scared, feeble, and unable to work - or pay taxes. How does that help us reduce costs?

21/02/2025

DOGE is targeting IRS now. If their intention is to reduce costs, this is not a good move for Americans, as the IRS is the only government agency that actually costs less than it receives. Reducing Collections means less funds for the government, not more. IRS employees don't make much and morale has been bad for many years, since the last time Republicans slashed their funding. I can only suspect that this is again the rich protecting their ill-gotten gains, as the IRS was targeting the wealthiest and large businesses in their Collections activity. The swamp is growing, not shrinking.

02/11/2024

02/11/2024

15/10/2024

We all know that something must be done to stabilize the Social Security Trust Fund going forward. Unfortunately, Trump's idea to ban taxes on Social Security brings up the date for insolvency (making it even harder to fix the problem). I think a better option is to increase the Social Security tax limit (i.e. the amount of wages that are taxable for Social Security contributions). Why should a CEO making $5,000,000 in wages only pay Social Security tax on the relatively miniscule amount of $168,600 (in 2024)? If more or all of that was taxable to Social Security, then the Fund would be funded going forward for decades to come. Trump's plan to ban taxes would make such high wage earners pay even less into the system, making us all pay more. If we really want to help the poorest amongst us contribute and receive Social Security - which was the whole idea afterall - we can reduce the SS tax rate, if more of the wealthy pay on more of their wages.