This is the best tl;dr I could make, original reduced by 76%. (I'm a bot)
> An Omaha, Nebraska-based private jet company whose principal owner donated generously to Donald Trump and Republicans ahead of the 2016 election received $20 million in taxpayer aid from the federal bailout package passed in March.
> Jet Linx Aviation, which caters to well-to-do CEOs and executives, was the second private plane company founded or owned by Trump donors to receive federal funds designated for the airline industry under the Coronavirus Aid, Relief and Economic Security Act.
> CNBC reported on Thursday that Clay Lacy Aviation, a Van Nuys, California-based private jet company whose founder has given nearly $50,000 to the Republican National Committee and Trump, got $27 million in federal funds.
> That represents just a fraction of the roughly 2,000 private jet companies operating in the U.S., as compiled by Private Jet Card Comparisons, an independent buyer's guide.
> The average grant amount for the 70 private jet companies to receive aid was $2.2 million, about a tenth of what Jet Linx and Clay Lacy each received.
> Do you work for a company that was denied CARES Act funds? If so, or if you were laid off from a company that received the federal aid, email Jake Pearson at.
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I saw an article titled "Congress Is About To Ban The IRS From Offering A Free Tax Filing Service. Thank TurboTax." on a news subreddit a short while ago. The article by propublica says the bill would cement this agreement. I don't see anything in the agreement or the bill that sounds like it would negatively impact the ability to file taxes for free online.
Here's the bill text for convenience https://www.congress.gov/bill/116th-congress/house-bill/1957/text/
Every article I've read stresses about how it'd block the IRS from developing free tax prep software, surely there's more in the act that isn't being mentioned in the articles I've read? Why would a bill ostensibly this unpopular receive bipartisan support?
Nakakasuka na harap-harapang corruption. That's it.
The Current Tax Payment Act of 1943 re-introduced the requirement to withhold income tax in the United States during World War II. It was done as part of the mobilization effort and the need for the federal government to access war funds quickly.
Before this act was established Americans paid the Internal Revenue Service what they owned in federal income taxes directly; no different than paying rent or a cell phone bill. Taxpayers received their full paycheck, then made a choice to send a check to the IRS. Under the act’s provisions, the employers withhold workers’ federal income taxes instead.
As a result, a sizable portion of many American workers’ income is never seen or held. This alters the perception of just how much of a workers’ salary is paid toward a federal income tax. I argue that this mechanism enables the government to exploit taxpayers by gradually raising or shifting the tax burden. Since the taxpayers aren’t physically writing a check to the IRS (and thus seeing the charge hit their bank account), it’s harder to keep track of the amount of money they’re being taxed each year.
For example, my salary in 2016 was $70,611 with a total Taxable Income (after Pre-Tax holdings, deductions, and exemptions) of $53,104.56.
The IRS forcibly confiscated:
$9,014.89 in Federal Income Tax
$4,251.46 in Social Security
$920.09 in Medicare
For a total of $14,186.44.
Now image had I received my full $53,104.56 in my bank account and had to write a check in April for $14,186.44? No change in what I’m liable for, no repealing the 16th Amendment, just the simple act of receiving my entire paycheck every two weeks. What would happen if every American took home their full paycheck?
I wager that most people (myself included) would not be comfortable paying their current tax liability if they received their full taxable incomes outright. The ability to choose whether or not to send a check to the IRS is a check and balance on absolute power in and of itself. The people could vote with ballots and dollars.
Imagine for a moment, that upon the government withdrawing from The Paris Agreement, Americans who disagreed with the decision would just not send a check to the IRS in addition to voting for representatives that represent their issues. Or even better, write a check to the IRS explicitly earmarking your tax liability for Climate Research. What if you could assign your tax liability directly to the interest of your choosing? Be it a Border Wall, So
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