[black69]

I did not notice this thread until today. I love that the majority of the posts match what I am telling many of my friends that sell and trade bikes and bike parts, or car parts.

First, this tax play is focused on paying for the incentives handed out for the green new deal. How to do that is go after what most that sold things on ebay that could have added up to 20K are now tracked down to $600. Pretty big change. It will hit the middle and little guy. Totally sucks. And that 87000 agents are clearly labeled as NEW, not replacements or backfill. All expansion.

On the fact of corporations not doing their fair share of paying taxes, you have to think it through a bit more. First give them a break as they employ people that pay taxes. Second, if they chose to invest profits into growth, that means more people hired (paying more taxes) and also they use the money to buy land, building, equipment. If they do nothing with that choice, they pay taxes. Most take the path of expansion (my neighbor with a $25M bearing buisness explained this to me, they always reinvest their profits or lose it to taxes). Only a fool opps out of the growth path. In my neighbors case, they took profits recently to buy a bearing buisness in New York that was in need of being managed by a better company. And its all made in America!

My other friend owned part of a buisness and with ALL the regulations (and then add in lock downs) and high taxes recently sold off his tie-wrap buisness to mexico. Yep, keep demonizing American buisnesses with bad mentality (they dont pay enough taxes!) and this is what you can also get.

Great thread. Its going to be an ugly tax year for many, start finding those purchase receipts. And most that get audited will cave if they dont have records that are solid. Easy task for IRS vs companies with lawyers.