As someone who has to pay back half of my COVID relief but so many rich people and corporations don’t- I feel this deep in my black soul.
$7000 on top of my student loans👍
Quick question? How come you gave to pay half of it back? On what grounds?
They “reassessed” my account and that’s all the reason they gave.
On what grounds? It keeps the rent pigs in line. /s
But also not /s
I made a $10,000 payment to close out mine a few years ago. Turns out I was right that Biden wouldn’t do anything meaningful on that front, and I was tired of being gouged on the interest.
I still support cancellation though. I wish we were spending 200 billion on that instead of another country’s war.
You should take a second to look up who is in the way of that happening, because it sure as hell isn’t Biden.
It isn’t Biden, who single-handedly struck a deal as a congressman to ensure students couldn’t declare bankruptcy due to crushing student loan debt? Huh.
I don’t think the above users meant 1976 when they were talking about Biden’s actions on Student Loans. Just a hunch. Also, technically, Student Loans are dischargeable by Bankruptcy starting 5 years into repayment or sooner in the case of undue hardships.
That was a long time ago so it isn’t relevant to Biden now /s
well they sure as fuck stopped trying
Nonsense.
They can’t help everyone, or even the majority, but they’re helping as many people as they can.
Federal student loans were not accruing interest when Biden took office. Now they are. They could have helped everyone by not raising the interest rates.
They weren’t accruing interest because of COVID. Do you think Biden could have unilaterally kept it at 0% indefinitely?
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One of the other replies mentioned a recent 5 Bn USD forgiveness of Student Debts, but actually the total amount the Biden Admin has forgiven is 132 Bn USD through various means. They also still plan to go through with the full forgiveness that was initially blocked by Conservative State Attorneys and the Supreme Court on June 30th, in total it will forgive 430 Bn USD.
Dude you know they were referring to covid relief and not LOANS. “On what grounds” they said, obviously that’s not referring to paying back a loan and instead on what grounds would you have to pay back RELIEF funds.
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We should subtract from the military’s budget anything they can’t explain on an audit.
“Why do we have to explain a $880,000 missile that bombed a villiage full of brown people? Or a $72,000 drone made out of consumer parts but the company is owned by my cousin?”
They know exactly where it went. Operation Freedom, abbreviated OF on the ledger…
it’s worse than that, they don’t know that they don’t know. literally no one ever holds them to account, they’ve never been asked the question so why would they need the answer.
Congress also throws more money at them than they even ask for.
This is true, I believe the Pentagon requested 5.2 Bn increase but the defense spending bill increased their budget by 26 Bn.
Probably bcz the military has all the guns. Who exactly is supposed to hold the group accountable when they could just point a weapon at you and your entire family?
Actually the US civilians have 400-600 million guns, the military has 4.5 million. They do have all the bombs and infrastructure though.
And all the tanks, fighter jets, attack helicopters, warships…
And nobody ever mentions intelligence in these conversations. Only people truly off the grid are unknowns, or unknown gun owners.
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The people handing them an endless supply of money?
That ‘we don’t know where 2 trillion went’ is a myth–that number represents accounting reconciliations between their myriad of different archaic and highly secured systems. It doesn’t mean that actual resources are missing or can’t be accounted for.
I remember reports of literal pallets of cash going missing during desert storm
“missing”
It’s an infestation of unconnected dots that could hide countless incidents of corruption. Were we to connect them all and compute the sum of adjustments, the discrepancy could be smaller or greater, exponentially.
The problem is our government favors the DoD like a prodigal son and is not eager to facilitate an audit that might reveal trillions in corruption. It already doesn’t like the published records of trullions in bad investments while leaving our troopers with insufficient armor and a DVA that leaves IED victims to the streets and the elements.
So until I see otherwise, I’m going to assume that’s trillions going to defense contractor lobbyist junkets and bribes.
That doesn’t really matter though. The point still stands regardless of if it’s explained by money literally disappearing into a hole or huge rounding errors and inefficiencies in their accounting systems.
They are still allowed much much more leniency with much larger amounts of money (aren’t they aren’t ever properly held to account for it) than regular people are allowed with comparatively tiny amounts of money.
A big part of it is reporting requirements, despite what some people think different portions of the government have different requirements. The reason a person gets inquiries about Venmo payments is because the IRS requires corporations to report that information to them and it’s a mainly automated process.
Regulatory reporting requirements of Corporations to the IRS can’t be copy pasted onto Pentagon spending reconciliation.
A better comparison, that is still not accurate, would be a cash business that has to report income to the IRS and has trouble getting granular details organized.
Complaints about transparency and accountability on the Pentagon budget are a valid complaint, but this is a poor example.
Cash business is a great example, considering 99% under-report their income by a huge amount…
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Ha you can’t even receive $50 of digital payments (venmo, cashapp, whatever) without passing an invasive KYC check. Fuck big brother.
I’m not reporting that someone sent me their share of the mortgage through an app rather than cash. Get fucked.
That’s a personal transaction and not business so you don’t have to claim it anyway.
If you’re paying a mortgage and someone is paying you for one of the rooms, as far as the IRS is concerned that is income 🙁
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If they do, for any transaction including personal, they are breaking tax laws so… I really don’t think that’s the case at all…
I had the pleasure of teaching people about the 1099-k used to report that from a business standpoint (which anyone needing to report would be using). So while I don’t know a lot, I do know that specific thing about that specific form.
I’m not a tax professional, but this is literally the first tax season these companies are being subjected to the new rules, so erring on the side of caution makes sense for them, but ultimately if they report that based on personal transactions, they are violating IRS regulations, and no company wants to do that if they can avoid it.
Prior to that, the 1099-k rules were really wild, something like a minimum number of transactions plus a minimum amount of income through that specific source. It led to a lot of untraceable transactions in lieu of normal transactions and it was hard to follow up with, plus a lot of people who had no clue they needed to file the form. This is literally just their way of shoring up the rules to make it enforceable for them as an underfunded agency.
Does it? It wasn’t an issue for me until I got paid and they accidently selected “payment”. At which point I had no choice, venmo forced me to give my tax information before they would cancel, or return the money that was sent to me.
They will still be reporting that transaction and there is nothing I can do.
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Exactly.
Yeah you do it’s still income…
If someone else is paying you for your mortgage anything past the interest is considered income since it’s paying down the principal.
And you don’t have to worry about reporting it venmo will already do that for you :/
you don’t have to report anything, thats also why they do random audits.
Venmo reports it
I’m honestly pretty upset about having to report “income” on reselling random old used shit out of my closet and garage on ebay all of the sudden.
Taxes have fucking been paid. This shit is not the same as wages and shouldn’t be treated the same.
The $600 paypal/venmo/etc reporting thing has been postponed and is not a thing for this coming tax season.
Good, this is going to be so annoying. If I send my roommate $1000 to cover my portion of rent (which I used to do every month at my last place) it’s not fucking “income” for them lol.
Now, my advice for those who die
Taxman!
Declare the pennies on your eyes
Taxman!
It’s all Stargate wars obviously.
Image Transcription: Twitter Post
Brave New Films, @bravenewfilms
The Pentagon: we don’t know where $2 trillion went.
The IRS: you sent $600 on Venmo. Don’t forget to report it.
I just got a notification from eBay that said they won’t release my money from selling until I provide them with my SSN or tax ID because I’ve sold over $600 this year. It was probably like a total of $602 because I rarely ever sell anything on there except old tech stuff when I really need money.
Sorry to be that person but this doesn’t make sense for a couple legitimate reasons.
https://sh.itjust.works/comment/6179467
For sure BS the DoD isn’t really improving. Yet this is an apples to oranges comparison.
It’s not about taxes, not really. It’s the hypocritical and one-sided scrutiny of citizens vs corporations and the military industrial complex.
It’s still wrong. Even when not about taxes directly.
It demonstrates either ignorance about government responsibilities, ignorance about GAP, or combination of both.
People passing this around should do better to come up with an applicable comparison regarding oversight the IRS has. There are many examples.
But the IRS isn’t the GAO. Auditing the DoD will never be something the IRS handles.
Ok, so where is the missing 2 trillion dollars? You seem to be missing the forest for the trees. It’s about hypocrisy, not the highly specific functioning of an inept governmental office.
Edit: I’ll spell out the hypocrisy. What happens when you fail an audit? You’re forced to pay back the money. What happens when the Pentagon fails their audits? Literally nothing. The 1990 bill has no penalties for failing, none.
Ok, so where is the missing 2 trillion dollars?
That’s for the GAO to figure out. Not me or the IRS. The IRS is already understaffed and funded as is. And both the IRS and DoD are Executive branch. That’s why the audit authority rests with Congress to provide checks against Executive authority.
You seem to be missing the forest for the trees. It’s about hypocrisy, not the highly specific functioning of an inept governmental office.
If it’s only about hypocrisy there are still better examples. The DoD doesn’t generate revenue so there isn’t anything to tax. Meaning the IRS shouldn’t be involved.
If to call out the DoD make it about how they expect this level of accountability with their own suppliers and staff that they’re failing. If to call out the IRS it could go with numerous options unrelated to the DoD.
As is it doesn’t make sense.
The DoD doesn’t generate revenue so there isn’t anything to tax. Meaning the IRS shouldn’t be involved.
I don’t know how else to say this. It’s not about specific agencies applying what penalty or anything else like that. It’s the fact that there are no penalties for the DoD for failing an audit.
So about my prior comment on ignorance of the government. Congress owns making penalties happen. As stated, this post suggests it’s the IRS not doing their job.
You’re welcome to come up with an alternative interpretation of what’s plainly stated. But we can do better than misrepresenting the issues this post does a crappy job of bringing up.
Ok, I see where you’re coming from. I looked past the error to see the point of what they meant. You’re stating the obvious that the IRS isn’t involved with government agency audits. We’re arguing about 2 different things.
The bitching about the DoD is dumb. It’s clearly a necessity with even bigger asshole nations being cunts.
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Oh right, the US is still out creating vassel states 🙄
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👌👍
no, we believe the cia now, for realsies
Oh oh, are we on Jeopardy! I’ll take “Brutal Middle Eastern Imperialistic State” for 500, Alex!
Whatever you say.
You don’t genuinely believe the US cares about Israel and doesn’t just give out trillions of their defense budget so they have a strong foothold in the middle east to prevent the caliphates from uniting, do you?
How many military bases do we have in how many countries?
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“We don’t know where 2 trillion went” is a headline similar to the ones we’ll be seeing a few years after this debacle in Ukraine.
Weird example, as you’re saying pretty explicitly exactly where the money went, and plenty of people would be fine with it
