What could possibly go wrong when you move hundreds of millions of records that are affected by an extremely convoluted tax code that is continually changing?
Jury rigged, workarounds upon jury rigged workarounds. I suspect it would be vastly more complicated to do this transition than doing an airlines. With an airline, it seems like you could freeze the system at a particular date and start everyone after that date on a new system. I’m not sure that’s feasible with taxes where there is so much carryover across long periods of time.
LOL, OMG are you serious? Have you not seen the republican play book every time the Republicans are in office? I mean this time the tax cuts are more than going to pay for themselves in productivity gains! pinky swear!!!
No one is ignoring the bond market and the likely recession that Republican Tax Cuts will bring. But it doesn’t change the fact that tax cuts, probably targeted at the most wealthy and largest corporations are very likely coming next spring when the dysfunctional republicans figure out the extent of their wish list and just how much they can ram through.
SNAP, Education, EPA, MEDICAID, ACA Subsidies (assuming ACA even survives another Republican trifecta), Science Funding, EITC, among others are all probably going to get hit hard. It won’t come near off setting the tax cuts but it won’t stop them from claiming it will.
I understand the difficulties of system change and accept your point that at a national level it maybe a couple of degrees more difficult than I think.
I however am still shocked by the thought of shuttering IRS. This would send the debt markets crazy because if they setup a new thing it will still need access to the old system. They have no way to go about it without the system problem.
How does spreads rising materially hurt the billionaire class? Does this change in the Bond Market (spreads rising materially) reduce the ownership and control of the largest private owners (billionaires large corps) in comparison to others players in the market.
For someone like Musk where he’s reportedly borrowing his living costs against his shares to avoid paying taxes on his gains, I’d think this would increase his annual living costs somewhat.
There may have been more to it and I don’t know if he gave UNESCO the money. I remember he got himself cornered in a twitter debate with UNESCO. They said something like they just need like 6 billion and they would meet some important goal. He asked them for a plan and it was submitted and he couldn’t back out.
