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Its still closing a unofficial loophole that lower income people relied on. That counts as part of the war to extract every last penny on the poor. There are a
by nebula8804 5y ago
Its still closing a unofficial loophole that lower income people relied on. That counts as part of the war to extract every last penny on the poor.
There are a lot of other nefarious things in the bill such as requiring manufacturers to install a device to monitor the driver if they are impaired(beyond 2026). This will lead to fines that will lead to further eroding of what little wealth the poor already have left. Was very smart of them to introduce it far off into the future so it can be slowly integrated into people new car purchases. This is why I believe the addition of the 600$ reporting requirement was no innocent ploy to just shore up this revenue stream. It was purposely introduced at an opportune time.
- kcb 5y agoIt's not a loophole it's tax fraud. Not reporting your income does not make it legal. In the end if your income is low enough you'll mostly be offset by the standard deduction anyway.
- nebula8804 5y agoTrue. I don't think the IRS pursued this heavily. >In the end if your income is low enough you'll mostly be offset by the standard deduction anyway. The point was that it is another barrier introduced to extract as much value from the lower classes as possible. In fact you had missed the original point completely.