Poll of the Day > So that new tax law snuck into the relief bill.

(+) Yeah! (+)

Moving the requirement for a 1099k from 20k with 200 transactions to $600 no minimum is gonna be interesting. Way to stick it to people trying to earn a little extra money.

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Democrats always find a way to fuck over the working man =x

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Zeus posted...

Democrats always find a way to fuck over the working man =x

Do you think Republicans also fuck over the working man?

hypnox posted...

Moving the requirement for a 1099k from 20k with 200 transactions to $600 no minimum is gonna be interesting. Way to stick it to people trying to earn a little extra money.

I don't know the numbers so at face value that LOOKS like a good thing so I'll need ya to explain it pl0x

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So basically if you make any amount of money on the internet now (other than the so generous $600), you're gonna get taxed for it.

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Smarkil posted...

So basically if you make any amount of money on the internet now (other than the so generous $600), you're gonna get taxed for it.

umm, ya? that's the way it is pretty much everywhere... it's income

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Zeus posted...

Democrats always find a way to fuck over the working man =x

...

have you paid any attention the previous four years where that happened all the time from people who are decidedly not democrats?

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Lokarin posted...

umm, ya? that's the way it is pretty much everywhere... it's income

Except, in the US at least, if you make under a certain amount of money you don't even have to pay taxes on it. This is most often seen with people who are literally at the poverty level making less than something like 25k. This was the internet equivalent of it.

Do you think someone making less than 20k a year should be taxed?

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Smarkil posted...

Except, in the US at least, if you make under a certain amount of money you don't even have to pay taxes on it. This is most often seen with people who are literally at the poverty level making less than something like 25k. This was the internet equivalent of it.

Do you think someone making less than 20k a year should be taxed?

I make $16k a year (CND) and I'm taxed

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Lokarin posted...

I make $16k a year (CND) and I'm taxed

Yeah because you live in Canada and Canada is fucking terrible. Poor people shouldn't be taxed. If you apply this principle to gig work like Uber and Lyft (which has also been lowered to 600 somewhat recently IIRC), that means a person taking on an extra work to make more money to make ends meet is getting fucked.

The people making a lot of money on these platforms are already being taxed. This just punishes the ones who don't make much.

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i'm gonna tax the shit out of canada

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CaptainStrong posted...

Do you think Republicans also fuck over the working man?

Certainly not to the same degree or in the same ways, often making them the lesser of two evils. When they hurt the working man, it's often more a matter of siding with employer rather than the worker. But sure, government generally sucks.

Smarkil posted...

This is most often seen with people who are literally at the poverty level making less than something like 25k.

I think it's a lot less than that?


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hypnox posted...

Moving the requirement for a 1099k from 20k with 200 transactions to $600 no minimum is gonna be interesting. Way to stick it to people trying to earn a little extra money.

I dont understand what it does

but gotta pay for UBI somehow

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why doesn't the US have a simple transaction tax like our GST?

I mean, the big complaint is wallstreet and amazon dodging their corporate taxes, right? Well a transaction tax would mean the billions of dollars they move every day would get taxed just by being moved

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Smarkil posted...

Poor people shouldn't be taxed.

Yes, they should. Everyone should pay the same % in taxes.

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Lokarin posted...

why doesn't the US have a simple transaction tax like our GST?

cause everything we do is stupid and doesnt make sense and the whole system makes it very difficult to change things and we have defunding education for a good 40-50 years so a lot of Americans are just shockingly ignorant about things

we literally decide everything based on what some dudes thought over 200 years ago. If they came back today they would be fucking disgusted that we havent rewritten the constitution in all this time.

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Mead posted...

cause everything we do is stupid and doesnt make sense and the whole system makes it very difficult to change things and we have defunding education for a good 40-50 years so a lot of Americans are just shockingly ignorant about things

we literally decide everything based on what some dudes thought over 200 years ago. If they came back today they would be fucking disgusted that we havent rewritten the constitution in all this time.

didn't 200 years ago they ban banks because they tend to loan more than they control?

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Lokarin posted...

didn't 200 years ago they ban banks because they tend to loan more than they control?

I dont know

they only taught me civil war and the alamo

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Mead posted...

I dont know

they only taught me civil war and the alamo

Ya, it was Andrew Jackson's last words... "you damn dirty banks, damn you all to hell!"

https://www.dailykos.com/stories/2006/12/7/278792/-

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Smarkil posted...

Yeah because you live in Canada and Canada is fucking terrible. Poor people shouldn't be taxed. If you apply this principle to gig work like Uber and Lyft (which has also been lowered to 600 somewhat recently IIRC), that means a person taking on an extra work to make more money to make ends meet is getting fucked.

The people making a lot of money on these platforms are already being taxed. This just punishes the ones who don't make much.

You sure the average American pays less on their income tax than the average Canadian?

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Zeus posted...

I think it's a lot less than that?

That's for a head of household or joint filing or some shit. I don't remember. Single would be about half that. I ain't about to look up tax shit for gamefaqs.

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Lokarin posted...

I make $16k a year (CND) and I'm taxed

Any time I made that little (also Canadian), I got money back when filing my taxes. I think Smarkil is taking this a bit incorrectly. Yes, we're all taxed on our paycheques. That's all going to pan out a little differently for people of different income when they file their taxes.

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"While U.S. federal income tax brackets span from 10% to 37% for individuals, in Canada, tax rates are between 15% and 33%. However, in the U.S., singles making over $40,126 annually pay 22% in taxes, whereas Canadian singles making less than $48,535 only have to pay 15% in taxes."

Oh wow, fancy that, it isn't completely black and white and I don't live in a dirty infected pisshole.

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Oh, also, when my mom got breast cancer medical bills didn't fuck my family into debt.

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Ohh nooo, the poor are taxed (but they get their taxes back)! I'd rather be taxed than dead lmfao

Health Insurance and Mortality in US Adults:

https://tinyurl.com/4c7zr7jy

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We do NOT OVERSIMPLIFY THE TAX CODE IN THIS HOUSEHOLD.

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I just pay someone to do taxes for me. The amount of money you're "saving" is pretty trivial.
Then again, I usually get back $2-3k as a return. One year I had to pay because I didn't take tax out of a stock purchase but it wasn't anything serious.

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Smarkil posted...

So basically if you make any amount of money on the internet now (other than the so generous $600), you're gonna get taxed for it.

I think you mean it counts as income

And income is taxed at different rates depending on how much you earn

So people who are only making "a little extra money" won't even notice this unless their online sales 1) aren't just "a little extra" and instead are a sizable chunk, and 2) they already earn enough for their income to be taxed at all

From what I'm seeing, this isn't even changing what is taxed. This change will force the companies that process payments to provide/report the 1099k to payees at a lower threshold. Just because people weren't sent the 1099k before didn't mean the income wasn't supposed to be taxed. Selling your used shit isn't taxed. This is for reselling new goods or conducting business.

And because the amount is reported to the IRS, it'll be easier to notice when people are conducting businesses though third party services and not collecting sales tax or paying income tax. Failing to see the problem with cracking down on people committing tax evasion.

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Zeus posted...

Democrats always find a way to fuck over the working man =x

How much u wanna bet PotD is gonna take this bait like a bitch lol

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Zero_Slash posted...

Yes, they should. Everyone should pay the same % in taxes.

They absolutely shouldn't.

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Taxes in the US are pretty low for anyone near min wage/poverty level, especially for a family that only has one working parent.

So the way taxes here work is you can take an automatic deduction of 12.5 k for single or 25k jointly on your income. you can get more of a deduction as head of household/per kid as well (dependat actually).

Then you only pay about 10% for the next 10k and 12% for the following 20k over that.

So if you have one parent who is making 50k a year, and the other takes care of the kids etc, you end up paying almost no taxes at all (about 30k taken off the top and you pay an average of 11% on the remaining 20k, so a bit over 2k in taxes total).

Meanwhile often the other parent can babysit other kids while watching theirs, save money on groceries other costs etc, and because of the extra deductions etc, almost come out as far ahead as if they worked as well.

But yeah, basically if your poor, you pay almost no taxes. If you are a couple (especially with no kids) you can easily live on 25-30k a year (if you share a 1 bedroom apartment for $1200 a month, you'll still have 1.5k left over for other expenses each month) and basically pay no taxes at all.

Children are an additional expense, but not nearly as expensive as they make it out to be, and since you basically only need either 1 person working (or each person only works part time, but someone is always available to be with the kid) it's a pretty easy life tbh. It could be harder in some places where min wage is still 7.50 but if your in any of the areas with min wage 13+ an hour, especially if either of you get a job with tips etc, you can make 30k a year pretty easy, and live quite well on that.

Far easier if you pair up with someone then if doing it solo since you share the rent cost, food is cheaper on average if you make meals for more than one, utilities/internet etc all is paid once etc.

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Zero_Slash posted...

Yes, they should. Everyone should pay the same % in taxes.

Why? A person making $30,000 a year needs a higher percentage of that money than a person making $300,000.

FatalAccident posted...

How much u wanna bet PotD is gonna take this bait like a bitch lol

i took it boi

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Just learn how to use tax loop holes. They want to play that game start claiming losses. I "know a guy" who made 15k Ebay with "his" side hustle during the pandemic, didn't have to pay any taxes was pretty sweet. Now If they did send him a 1099 he could immediately claim a certain Cell phone purchase, laptop purchase, internet bills, home utilities where he may operate out of, advertising job expenses, gas mileage to commute to get items, etc etc etc.

It will require extra work when they push this on the working man, just out smart them and minimize tax needed to be paid

Technically speaking arent you supposed to declare that income anyway? Now its just making a requirement above a certain point.

CaptainStrong posted...

Why? A person making $30,000 a year needs a higher percentage of that money than a person making $300,000.

It doesn't matter. You have to be fair about it. That's why it's a % instead of a flat rate. The person with less money still pays less, but it's fair in that everyone pays the same rate. Taking money from people who make more money without taking it from those who make less is outright theft (well, taxes are theft anyway, but I digress).

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