Economy

[teachercd]

Apple stock, outch!

 

Bad tech day.

[BigRedBuster]

28 minutes ago, teachercd said:

Apple stock, outch!

 

Bad tech day.

And, why is that?

 

sounds like it’s tied to the semiconductor shortage and with China being idiotic on lock downs. 

[ActualCornHusker]

1 hour ago, BigRedBuster said:

OH......so you believe the government shouldn't collect ANY taxes.

 

OK.

 

I think we are seeing why they don't get funding to upgrade technology.

 

I say that somewhat tongue in cheek. 

At the very least, taxes should be so simple that the average person doesn't need a CPA or be forced to pay a couple hundred bucks to file through TurboTax, and the IRS would be completely unnecessary. Then they wouldn't have to worry about their technology. But I'm sure there's some lobbyists from Intuit for example that make sure that type of thing wouldn't happen

[RedDenver]

2 minutes ago, ActualCornHusker said:

 

I say that somewhat tongue in cheek. 

At the very least, taxes should be so simple that the average person doesn't need a CPA or be forced to pay a couple hundred bucks to file through TurboTax, and the IRS would be completely unnecessary. Then they wouldn't have to worry about their technology. But I'm sure there's some lobbyists from Intuit for example that make sure that type of thing wouldn't happen

The IRS would still be necessary as the regulating agency. But if we funded the IRS (and managed to get passed the lobbyists as you mention), there could be a super simple system where the IRS sends you your forms already filled out. Then you just agree and send it back, or go through the process of disagreeing and adding your own forms. Sweden, for example, already has this system and it's electronic, so you can just click a button to agree with the tax statements the government sent you and you're done.

[ActualCornHusker]

Just now, RedDenver said:

The IRS would still be necessary as the regulating agency. But if we funded the IRS (and managed to get passed the lobbyists as you mention), there could be a super simple system where the IRS sends you your forms already filled out. Then you just agree and send it back, or go through the process of disagreeing and adding your own forms. Sweden, for example, already has this system and it's electronic, so you can just click a button to agree with the tax statements the government sent you and you're done.

 

Right. It would be efficient and would require far less manpower and funding

[Archy1221]

1 hour ago, ZRod said:

 

Do you guys really think an extra $80 dollars a week (all 3 checks over a 9 month period) was anything more than a drop in the ocean of inflation? Not everyone got the full checks or even all the checks either. Not to mention studies from the first round of checks, and the Bush checks in 2008 show that most people save them and don't spend them. I don't blame Trump or Biden issuing checks for any amount of inflation.

It’s disingenuous to NOT include ALL the Covid relief bills.   

[BigRedBuster]

3 minutes ago, ActualCornHusker said:

 

I say that somewhat tongue in cheek. 

At the very least, taxes should be so simple that the average person doesn't need a CPA or be forced to pay a couple hundred bucks to file through TurboTax, and the IRS would be completely unnecessary. Then they wouldn't have to worry about their technology. But I'm sure there's some lobbyists from Intuit for example that make sure that type of thing wouldn't happen

They would still need a tech upgrade. Yes, it should be easy. But, there will still be tax cheats. If it weee easy, everything could be filed electronically, processed through a massive computer system and results could almost be instant as to if someone is filing correctly. 
 

Even with the current tax system, they could eliminate SO much labor costs with this. 
 

Did you know the IRS still doesn’t use even email because how they use technology is do out dated?  I believe the problem @JJ Husker had was because they simply don’t have the labor to process things like that. Fine, do it with technology. That problem prevented a tax payer from actually getting his money back. 

[RedDenver]

1 minute ago, ActualCornHusker said:

 

Right. It would be efficient and would require far less manpower and funding

Maybe. Maintaining a computer system to track everyone's taxes is not simple or cheap though. And the IRS still needs an enforcement/investigative arm for tax evaders. Might be less money than now, but I doubt it.

[BigRedBuster]

5 minutes ago, RedDenver said:

The IRS would still be necessary as the regulating agency. But if we funded the IRS (and managed to get passed the lobbyists as you mention), there could be a super simple system where the IRS sends you your forms already filled out. Then you just agree and send it back, or go through the process of disagreeing and adding your own forms. Sweden, for example, already has this system and it's electronic, so you can just click a button to agree with the tax statements the government sent you and you're done.

That would be amazing. But, the members of Congress would have to ok a system that guarantees they are paying the right taxes. 

[Archy1221]

1 hour ago, BigRedBuster said:

What would a Republican done differently with the economy in 2021?

 

Or, are you saying Republicans may have made the same bad mistakes?

If so....what were those major mistakes that are in the President's control?

I thought I talked about the spending in my post. 

[Archy1221]

18 minutes ago, BigRedBuster said:

And, why is that?

 

sounds like it’s tied to the semiconductor shortage and with China being idiotic on lock downs. 

Many news articles say there is soon to be a glut of semiconductor chips.  I believe that’s why AMD and NVidia will not bump after reporting good numbers.  

[BigRedBuster]

Just now, Archy1221 said:

Many news articles say there is soon to be a glut of semiconductor chips.  I believe that’s why AMD and NVidia will not bump after reporting good numbers.  

Hmmmm…interesting. Wonder how that is with China so locked down. 

[BigRedBuster]

24 minutes ago, Archy1221 said:

I thought I talked about the spending in my post. 

I agree there are spending issues.  we’ve talked about COVID spending. What else are your major issues on spending?  

[JJ Husker]

1 hour ago, BigRedBuster said:

They would still need a tech upgrade. Yes, it should be easy. But, there will still be tax cheats. If it weee easy, everything could be filed electronically, processed through a massive computer system and results could almost be instant as to if someone is filing correctly. 
 

Even with the current tax system, they could eliminate SO much labor costs with this. 
 

Did you know the IRS still doesn’t use even email because how they use technology is do out dated?  I believe the problem @JJ Husker had was because they simply don’t have the labor to process things like that. Fine, do it with technology. That problem prevented a tax payer from actually getting his money back. 

But it also got me a hefty interest payment.  That’s the most interest I’ve been paid in a long long time. Would’ve been pretty sweet if it took them another 3 years to pay me. 
 

Sorry, I can make light of it because for me it was basically found money. It was so old I didn’t even know what it was for.

[BigRedBuster]

13 minutes ago, JJ Husker said:

But it also got me a hefty interest payment.  That’s the most interest I’ve been paid in a long long time. Would’ve been pretty sweet if it took them another 3 years to pay me. 
 

Sorry, I can make light of it because for me it was basically found money. It was so old I didn’t even know what it was for.

Oh, I fully understand and I would have the same attitude. 
 

However, think about it if you were in charge of the IRS. Then, think about how many people like you that they are paying interest to that if they had better technology, they wouldn’t need to.