The Amazing thing that's happening in the US Presidential Election | 32 comments (32 topical, editorial, 0 hidden)

Re: The Amazing thing that's happening (4.00 / 2)

vox | The House just passed a sweeping and bipartisan bill to boost unions (09.03.21)
The bill passed the House Tuesday night on a vote of 225-206. One of the bill's most significant provisions is a policy that would override state right-to-work laws that weaken unions by letting unionized workers not pay dues.
bobbyscot.house.gov | Bipartisan Labor Leaders Introduce Bill to Protect Workers' Right to Organize (28.02.23)
The Senate companion was introduced by the Committee on Health, Education, Labor, and Pensions (HELP) Chair Bernie Sanders (I-VT).
politifact | PRO Act has stalled, but administration is shaping policy through NLRB (19.03.24)
Biden's reshaping of the NLRB's membership has produced significant victories for unions seeking greater freedom to organize.
ChatGPT | Walz unharmed after some of the vehicles near the back of his motorcade crash in Milwaukee (02.09.24)
Images posted on social media showed large passenger vans with crumpled front and backends after the collision, which was said to have occurred on Interstate 794.

yahoo! cnn | Harris to unveil new wave of economic policies for small businesses, communities, in economic speech Wednesday, 3 Sep

as part of a second wave of economic proposals set to be unveiled Wednesday [4 Sep, New Hampshire]
[...]
After releasing a first wave of more populist policies to increase government involvement in retail pricing and the housing market, Harris is crafting a pro-business, low-regulation platform aimed at taking the air out of Republican broadsides.

Prepare yourselves. Team Harris-Walz did not consult a basic CPA.

by Cat on Wed Sep 4th, 2024 at 01:33:04 AM EST

Re: The Amazing thing that's happening (none / 0)

CPA?

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Wed Sep 4th, 2024 at 12:58:23 PM EST
[ Parent ]

US-Eng., certified public accountant (none / 0)

a licensed trade

UK-Eng., CPAA, or "chartered", accountant or whathaveyou.

by Cat on Wed Sep 4th, 2024 at 05:56:44 PM EST
[ Parent ]

Re: The Amazing thing that's happening (none / 1)

Kamala Harris speaks at a rally in New Hampshire, 4 Sep
warm-up acts end at 24.35

by Cat on Wed Sep 4th, 2024 at 08:25:37 PM EST
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Re: The Amazing thing that's happening (none / 0)

@34:10

I want to see 25 million new small business applications [?] by the end of my first term [2028], and to help achieve this we will lower the cost of starting a new business. On average, it costs about forty thousand dollars to start a new business in America.

FALSE. $40K is equivalent to annual wage + employment taxes paid for one (1) employee. Add to that fixed and variable operating expenses—which are all federal form S, form C deductible—and deduce how Big Business effective rates ->0.

That is a great financial barrier for a lot of folks, and it can hold entrepreneurs back. And the current tax deduction for a start-up ["new" business establishment] is just five thousand dollars.

FALSE. As noted above, taxpayer classification determines the scope of deductions. The Alternative Minimum Tax (AMT) precludes combined personal and unincorporated "sole proprietors ("high-income") exemptions. And "The deduction" limit is not $5K, it's a proportional rate.

So you gotta make up the delta [sic] there. You gotta figure out how you're going to do that. Not everyone has access to that kind of wealth and capital. So party of my plan is we will expand the tax deduction for start-ups to fifty thousand dollars. It's essentially a tax cut for starting a small business.

FALSE. As noted above, more than one deduction reduces taxable income, not expenses.

Second, my plan will help existing small businesses grow. We will provide low- and no-interest loans to small businesses that want to expand and we will—and this is very important—cut the red tape that can make starting and growing a small business more difficult than it needs to be. more difficult than it needs to be. For example, we will make it cheaper and easier for small businesses to file their taxes, similar to how individuals can take a standard deduction. You know, I said to my team, kind of like—now, I'm going to date myself again, because the they no longer do it—kind of like, you remember, the 1040-EZ [personal income filling form], like that kind of ide, right? Let's just take away some of the bureaucracy in the process to make it for people to actually do something that's going to benefit our entire economy.

m'k. I stopped listening here. Fed.gov's SBA already handles SME "venture capital" functions (loans and grants, vocational ed, contracts, etc) allocation prescribed by the odious.

Watch the video. The expressions on the faces in the crowd are priceless.

by Cat on Wed Sep 4th, 2024 at 10:47:09 PM EST
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My mistake. Always wait for the curtain call. (none / 0)

@13:28 Finally, my plan will make our tax code more fair, whil also prioritizing investment and innovation. So let us be clear. Billionaires and big corporations must pay their fair share in taxes. Because here's the thing, it's just not right that those who can most afford it are often paying a lower tax rate than our teachers, our nurses, and our fire fighters. It's just not right. It's just not right. So that's why I support a billionaire minimum tax [Form BMT?] and corporations [Form C] paying their fair share. And while we ensure that the wealthy and the big corporations pay their fair share, we will tax capital gains at a rate that rewards investment in America's innovators, founders, and small businesses. So here's the detail, if you [?] earn a million dollars a year or more, the tax rat on your long-term capital gains [personal, corporate, or both?] will be twenty-eight percent under my plan, because we know, when the government encourages investment, it leads to broad-base economic growth, and it creates jobs which makes our economy stronger.

archive -818,000 nonfarm employment, March 2023-2024

What Percentage of Small Businesses Fail? The average survival rate of a business greatly depends its industry. BLS. Establishement Net Birth-Death Model 2021, 2023. richmondfed. model adjustment cycles, 2007-2023

by Cat on Thu Sep 5th, 2024 at 02:19:06 PM EST
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Re: The Amazing thing that's happening (none / 0)

thehill | Harris goes off script to address Georgia school shooting: 'It does not have to be this way', 4 Sep opportunity economy

"By the way, I love Gen Z, I just love Gen Z," she said. "One of the things that I asked every time that I went to an auditorium ... raise your hand if at any point from kindergarten to 12th grade you had to go through an active shooter training."

Chat GPT | Harris visits New Hampshire to tout her small business tax plan, 4 Sep

After that, Harris visited another women-owned small business, Port City Pretzels, which was founded in 2015 and had expanded out of its original, 500-foot facility into a larger location.

NY Yella Cake | Harris Tells the Business Community: I'm Friendlier Than Biden, 4 Sep

Ms. Harris's proposal, which she introduced at a campaign event in New Hampshire, was directed squarely at business owners and wealthier Americans who are skeptical of Democrats and have gravitated toward former President Donald J. Trump. In the same speech, she rolled out her new plan for an expanded tax break for start-ups.
¶ 3 Owners of so-called pass-through businesses, the structure for the vast majority of corporations in the United States, already enjoy access to a generous deduction that many progressives view as overwhelmingly benefiting the wealthy.
Mr. Biden had proposed taxing capital gains at 39.6 percent for Americans who make more than $1 million a year. Ms. Harris said on Wednesday that she would tax investment income for those Americans at a rate of 28 percent, a reversal from her earlier support for the tax increases included in the White House budget released this spring.
"If you earn a million dollars a year or more, the tax rate on your long-term capital gains will be 28 percent under my plan," Ms. Harris said at a brewery in North Hampton, N.H.

Chat GPT | Harris goes her own way on capital gains tax hike, 4 Sep nope
"Harris called Wednesday for a smaller capital gains tax increase"

archived volatility in taxing unrealized gains, Yellen millionaire economy

by Cat on Thu Sep 5th, 2024 at 02:25:21 PM EST
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Yellen millionaire economy vs the AMT (none / 1)

thehill | $1.3B in unpaid taxes recovered from ["]high-income["] Americans, 6 Sep

The recovered money comes as part of the effort to ensure ~~wealthy~~ high-income individuals pay the taxes they owe under the Biden administration's Inflation Reduction Act, according to the department's release.

employer records, "Form W-2 and 1099s"—full-time employee (FTE) pay and and non-employee payments, respectively; required E-File reporting facilities

[...]
"Nearly 80% of these 1,600 millionaires with delinquent tax debt have no[t] made a payment, leading to over $1.1 billion recovered," the department said. "This is an additional $100 million just since July, when Treasury and IRS announced reaching the $1 billion milestone."

archive current disposable income in Kamala Harris Surge?

"Wealth" measures credit, and "gender" is a grammatical case.

by Cat on Fri Sep 6th, 2024 at 07:05:01 PM EST
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enemy of the people FAQ (none / 0)