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Well, MM for a starter they should have eliminated the payroll tax, the FICA pay-in. That’s what most smart economists recommended. Give more money to those who need it and spend it the most.
Additionally, name one public works/infrastructure project here that started and is progressing on stimulus money.
Believe it or not, most restaurants pay a fair share of taxes because they are being audited like crazy (I am not talking about hall in the wall places). A friend of mine who has a restaurant and bar had a visit from an IRS agent who brought with him all receipts from suppliers of my friend that broke out how much pounds of meat and veggies and booze he orders per year with percentages allocated to waste and then approximate calculations of how much money my friend must have earned for the year. Not easy showing only credit card receipts and pocketing up all the cash. Having said that, other businesses like Mechanics, barbers, shoe repairs, laundromats, etc. definitely get away with the cash business and cheating taxes.
Let’s say you are a restaurant owner. You know 100% of your competition cheats on their taxes. And you know there is no way you can compete with them and put food on your own table if you pay your taxes.
So what do you do? You cheat, just like everyone else.
If we increased the size of the IRS exponentially, and tackled the almost impossible task of forcing cash restauranteurs to be honest, I suppose we could get them all to pay their taxes. And with them paying their taxes, guys like me could pay less tax.
But then I would probably make less money because guys like me would demand less to do what I do because they would be able to keep more.
And my meal would cost more and we would have a huge government bureaucracy dedicated to chasing the people who are hard to force to be honest.
Better to just pay me more and make me shoulder the tax burden for the cash businesses I frequent.
Better to make DIBS pay taxes for his rentboys.
Better to make drug consumers pay taxes for the drug dealers.
Better to make bankers pay taxes for the coffee cart guys.
Better for me to pay taxes for the guy I buy $5 wool caps from on the street in the winter.
“The Obama administration does not understand the first thing about spending, velocity of money and how to efficiently spend to bosst the economy. They come across as the worst sort of Democratic bumblefucks.”
Kens, if your buddy is that bad, he wont last more than 6 months – unless his in-laws dont monitor the biz’s performance. The biz needs to show some decent rev and growth (even if losing $$$) else no reason to keep it afloat and/or have your buddy running it
Well, MM for a starter they should have eliminated the payroll tax, the FICA pay-in. That’s what most smart economists recommended. Give more money to those who need it and spend it the most.
Additionally, name one public works/infrastructure project here that started and is progressing on stimulus money.
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“Believe it or not, most restaurants pay a fair share of taxes because they are being audited like crazy”
The feedback I have gotten from restauraunters is much more mixed.
But again, why does it make sense for us to pay an army of auditors to chase these guys?
Surely someone has said all of this before.
Believe it or not, most restaurants pay a fair share of taxes because they are being audited like crazy (I am not talking about hall in the wall places). A friend of mine who has a restaurant and bar had a visit from an IRS agent who brought with him all receipts from suppliers of my friend that broke out how much pounds of meat and veggies and booze he orders per year with percentages allocated to waste and then approximate calculations of how much money my friend must have earned for the year. Not easy showing only credit card receipts and pocketing up all the cash. Having said that, other businesses like Mechanics, barbers, shoe repairs, laundromats, etc. definitely get away with the cash business and cheating taxes.
Let’s say you are a restaurant owner. You know 100% of your competition cheats on their taxes. And you know there is no way you can compete with them and put food on your own table if you pay your taxes.
So what do you do? You cheat, just like everyone else.
If we increased the size of the IRS exponentially, and tackled the almost impossible task of forcing cash restauranteurs to be honest, I suppose we could get them all to pay their taxes. And with them paying their taxes, guys like me could pay less tax.
But then I would probably make less money because guys like me would demand less to do what I do because they would be able to keep more.
And my meal would cost more and we would have a huge government bureaucracy dedicated to chasing the people who are hard to force to be honest.
Better to just pay me more and make me shoulder the tax burden for the cash businesses I frequent.
Better to make DIBS pay taxes for his rentboys.
Better to make drug consumers pay taxes for the drug dealers.
Better to make bankers pay taxes for the coffee cart guys.
Better for me to pay taxes for the guy I buy $5 wool caps from on the street in the winter.
“The Obama administration does not understand the first thing about spending, velocity of money and how to efficiently spend to bosst the economy. They come across as the worst sort of Democratic bumblefucks.”
So Dave, what should they do? Serious question.
Kens, if your buddy is that bad, he wont last more than 6 months – unless his in-laws dont monitor the biz’s performance. The biz needs to show some decent rev and growth (even if losing $$$) else no reason to keep it afloat and/or have your buddy running it
Tax cigarettes and sugar soft drinks more. Make marijuana legal and tax that. Tax diapers and tampons. Tax dinners at Indian restaurants.
Just don’t tax anything that I buy.