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Posted on 8/28/26 at 8:59 pm to Ailsa
This is long overdue. Without indexing the effective tax rate is a lot higher.
Other formulas in the tax law should be indexed too. The formula for determining the amount of social security to tax should be indexed.
Long story short, all formulas and standard deductions should be indexed. If we did this the economy would shoot up like a rocket. Taxpayers win. Government loses. I’ve been doing taxes 50 years and this is long overdue.
Other formulas in the tax law should be indexed too. The formula for determining the amount of social security to tax should be indexed.
Long story short, all formulas and standard deductions should be indexed. If we did this the economy would shoot up like a rocket. Taxpayers win. Government loses. I’ve been doing taxes 50 years and this is long overdue.
Posted on 8/28/26 at 9:35 pm to Ailsa
Should have been done already.
Posted on 8/28/26 at 9:46 pm to tilco
quote:
I can’t imagine why anyone would be against this.
Of course, … you don’t strike me as someone with TDS.
The TDS crowd simply hates it because… muh Trump
Posted on 8/29/26 at 12:12 am to AtticusOSullivan
quote:
Wtf . I thought we got rid of your dumbass.
we did. until this cuck went crying for his return
LINK
Posted on 8/29/26 at 5:32 am to gmac8604
quote:
Shouldn't they already be indexing?
Yes, but they don’t. And that’s one of the reasons capital gains rates are set lower than income tax rates. It creates bizarre outcomes. An asset that appreciates at less than the inflation rate gets taxed upon sale. And asset that doubles in value in a year, and is then sold, is only taxed at about 21%. Neither of these is fair.
Posted on 8/29/26 at 5:38 am to UtahCajun
quote:
This should win over many of the Boomer gen who are looking squarely at retirement
At least the ones who don’t give a damn about the 2T deficit and the 40T debt.
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