The time bomb in the tax code that's fueling mass tech layoffs
https://qz.com/tech-layoffs-tax-code-trump-section-174-microsoft-meta-1851783502
#HackerNews #techlayoffs #taxcode #employment #crisis #economicimpact #innovation #news
#taxcode
#Trump already has the weight of the #ExecutiveBranch behind his efforts to strip funding from top #universities, #deport millions of unauthorized #immigrants & pressure #ForeignGovernments to change their economic policies.
With the sprawling bill that passed through the #House on Thurs, #Republicans are also preparing to enlist the #TaxCode as another tool against Trump’s political foes.
#law #RevengePolitics
https://www.nytimes.com/2025/05/23/us/politics/republicans-taxes-trump-opponents.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=D8897650-C8DC-4320-B385-DFA3B3D729D8
#NoBillionaires #TaxTheRich #EatTheRich #GuillotinesWork #TheDailyShow #Poverty #EndPoverty #TaxCode
“Poverty, by America” author Matthew Desmond shares how the US could end poverty if the top 1% of Americans just paid the taxes they owed
Kazakhstan’s Lower House Passes Controversial New Tax Code Amid Public Backlash
YES. THIS. It hasn't always been this way. In the 70's the tax code wasn't completely upside down like it is now. There is a better way - and we need to implement every step towards it now before it is too late. (And it might be - because the oligarchs are currently winning, folks.) #taxcode #waleg
RE: https://bsky.app/profile/did:plc:42i4v2lgzmfvdcoekjgm5eru/post/3lnmd3zie7c2l
Union Budget 2025-26: New Income Tax Bill to be introduced!
🔹 Clear & direct text, nearly half the size of current law
🔹 Simplified structure for better understanding
🔹 Aims to enhance tax certainty & reduce litigation
#IncomeTax #Budget2025 #TaxReforms #Finance #TaxCode
the giant pot of bitcoins bought with leverage and the money of retail suckers that masquerades as a company known as #MicroStrategy (#MSTR) has a massive tax problem and has run to the IRS for help. They teamed up with #Coinbase and wrote a 76 page Very Angry Letter about how they cannot possibly be expected to follow the tax code as written.
(tl;dr the value of their bitcoins went up and they don't want to pay taxes on them despite taking an absolutely *massive* tax impairment a year or two ago when their bitcoins had gone down)
For bonus points consider that the CEO of MicroStrategy #MichaelSaylor was personally busted for massive tax fraud and had to pay a $51 million fine just a few months ago.
* WSJ: https://www.wsj.com/finance/currencies/microstrategy-federal-income-tax-unrealized-gains-f60b2c04
* no paywall: https://archive.ph/U4LQC
* 76 page letter: https://legacy.www.documentcloud.org/documents/25504499-coinbase-and-microstrategy-letter-to-the-irs-2024-0046-0028_attachment_1
#IRS #taxes #crypto #cryptocurrency #MichaelSaylor #uspol #taxcode #tax #finance #economics #stockmarket #bitcoin #btc #corruption
The billionaire power grab is a reality, and it’s proving to be highly effective.#Politics #billionaires #taxes #Finances #TaxCode #1Percent
The #economy favors #rich #speculators and screws over the #working class
End #Federal #taxation on #Labor #LaborDay
#Tax #profits
Tax #speculators
Tax #inheritance
Change the #TaxCode
#VicePresident #KamalaHarris' #economic #plan features new #tax #cuts, #housing #incentives and #pricecaps.
Any #changes to the #taxcode require #congressional #approval, and depend heavily on which #party controls the #House and #Senate.
https://www.cnbc.com/2024/08/16/kamala-harris-economic-policy.html
Progressive tax rates and related laws should be constitutionally entrenched to prevent easy changes due to government influence by #specialinterests seeking tax reductions. Wealthy individuals supporting #politicalparties to lower their #taxes should face mandatory sentencing based on their income or wealth, with repeat offenders facing escalating penalties. Changes to the #taxcode should be subject to national a #referendum to maintain tax stability and prevent capture by special interests.
This came out a while back, but it's definitely worth a read if you haven't yet. It explains one of the driving factors for layoffs at US companies. We ran into this unexpected tax code change at virtua.tech as well, and it definitely had a negative impact. The Pulse: Will US companies hire fewer engineers due to Section 174? https://buff.ly/3H7RoCr #taxcode #layoffs
"(...) The establishment of a non-profit foundation under US tax law (501(c)(3)) by #Mastodon gGmbH should ideally wake up the #BMF to finally expand §52 #TaxCode to include a few contemporary non-profit statuses. The development and free provision of free #OpenSource software (#FOSS) should be one of them. (...)
a loud cry for a certain systematization and principle orientation of the non-profit regulations in Germany. (...)"
And people still wonder why so many of us want to eat the rich.
This is absurd. Our tax system needs an overhaul.
https://www.theguardian.com/business/2024/mar/13/top-us-executives-salaries-versus-tax-payments
Most States Have #TaxCodes That Are #Rigged To Benefit The #Wealthy: Report
In many states, the #taxcode directly widens #income #inequality — and it’s a deliberate policy choice driven by low or nonexistent #incometaxes.
#Diversity #offices on #college #campuses in #Texas will soon be illegal, as 30 new laws go into effect
Other new laws make changes to the #taxcode, #criminaljustice and #healthcare systems.
#Women #Transgender #LGBTQ #LGBTQIA #Texas #HigherEducation #Conservatives #Extremism #RepublicanParty #Hate #Bigotry #Violence #Genocide #Discrimination #Racism #Homophobia #Transphobia #ThePartyOfHate
https://www.texastribune.org/2023/12/28/texas-new-laws-dei-ban-colleges-universities/
Question for tax code and accounting knowledgeable: let’s say a mystery company has decided to price out an access to an API. Those agents already using said API decide not to take them up on the ‘offer’ by declining and leaving the host.
Can the host company now write those projections off as an accounts payable loss?
May 7: 1st General Strike of Hotel & Restaurant Workers NYC 1912 May 7: 1st General Strike of Hotel & Restaurant Workers NYC…
The top 100 CEOs in the U. S. have accumulated retirement accounts equal to 40% of all workers. Scott Klinger with Jobs With Justice, and Olivia Alperstein with the Institute […]
Why CEOs Get Bigger Retirement Subsidies - WORT-FM 89.9
NPR - #Princeton #sociologist #MatthewDesmond - if the top 1% of Americans paid the #taxes they #owed, it would raise $175 billion each year. "That is just about enough to pull everyone out of #poverty," the author says. https://www.npr.org/sections/health-shots/2023/03/21/1164275807/poverty-by-america-matthew-desmond-inequality #PovertyinAmerica #Billionaires #FinancialSystem #TaxCode #IRS #Congress #regulations #economy #wealthy do not pay taxes
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