President's Budget Eliminates Donation Expense for Tix

[mu03eng]

That I agree with. But come on. The amount of the gas tax is no way shape or form high enough to be a deterrent to driving (maybe at some point 25 years ago it was). Americans complaining about gas prices is freaking hilarious. We need to raise it because our transportation infrastructure is falling apart.

For the sake of the thread I'm not going down this discussion path, but your discussion of if the gas tax is high enough is exactly my point.  

Government needs to determine what the gas tax should be to create revenue to cover expense of providing as well as the behavior it wants to dictate.

[Aughnanure]

For the sake of the thread I'm not going down this discussion path, but your discussion of if the gas tax is high enough is exactly my point.  

Government needs to determine what the gas tax should be to create revenue to cover expense of providing as well as the behavior it wants to dictate.

Yikes, I misread your posts as though you were against the idea of behavioral motivations, instead of just talking about it. My bad. Also, too bad that view is too logical to actually accomplish anything in DC these days.

[ChicosBailBonds]

No. A flat tax is not logical (not saying the current one is) and nor do most people across the political spectrum agree with it.

I agree with the latter part of your statement.  The number of folks that don't support it on the left and right is long.

I do not agree with you saying it isn't logical.  It's the most fair tax out there, but maybe that's what makes it illogical for too many.

Everyone should pay.

On the gas tax, the problem I have with your argument is that they are going to jack up the gas tax, then gas prices are going to rebound anyway and that is really going to cripple many people.  I was happy to see you say taxes DETER activity.....quite an admission and so very true.     I'm not sure why we want to DETER driving.  Let's not forget that a gas tax impacts all kinds of things like the cost of food, etc.   

Do people just throw out "crumbling infrastructure" every day for pity points?  There's always going to be holes in the road, a random bridge collapsing, etc.  I don't care if you have $10 trillion to spend

[Benny B]

You're playing semantics. The reason that people make a donation is to get better seating at the Bradley Center. Your seating selection is not a charity.

How narrow is your view of reality.

[brandx]

While technically true, the the majority of these folks pay a big share in Medicare taxes, SS taxes, state income taxes, the gas tax, sales tax and so on and so on.  A very small % of Americans pay NO taxes, as many have claimed over the years.  Of those who do not, the vast majority are low income elderly who have little to no income, and just get SS.

I would correct one thing.

Rather than a small % who pay no taxes, the actual number is 0.00%

[reinko]

I would correct one thing.

Rather than a small % who pay no taxes, the actual number is 0.00%

[GGGG]

I do not agree with you saying it isn't logical.  It's the most fair tax out there, but maybe that's what makes it illogical for too many.

It has little to do with logic.  It is because people have different definitions of the word "fair."

[ChicosBailBonds]

President Obama’s '16 budget "calls for ending a long-standing and sometimes mocked tax break for buying college football tickets," according to Brian Faler of POLITICO. Under an '88 law that is "still on the books, taxpayers are allowed to take a deduction for the charitable contributions colleges sometimes require as a prerequisite for buying pricey season football tickets." The administration "estimates its plan would raise" $2.5B (POLITICO.com, 2/2).

BLOOMBERG NEWS' Collins & Rubin note college sports fans currently "can deduct" 80% of the cost of such donations. The budget plan also would "end the use of tax-exempt bonds to build professional sports facilities." Debt to finance stadiums and arenas "would be taxable" if more than 10% of the location "is used for private-business use." Repealing such financing "would save" $542M from '16-25. Marcum LLP Senior Tax & Business Services Partner Robert Spielman, whose firm advises high-net-worth clients, said that while some alumni and fans "would give money to schools regardless of tax benefits, ending the deduction would hurt revenue at some sports programs." Collins & Rubin note the separate proposal in the budget to "eliminate the use of tax-exempt debt for sports facilities would affect states and municipalities that are working with professional teams to finance new or improved stadiums and arenas" (BLOOMBERG NEWS, 2/3).

However, REUTERS' Kevin Drawbaugh wrote Obama's plan is "not likely to become law soon." Republicans, who now control the House and the Senate, were "sharply critical of the plan within hours of its unveiling." But the budget and its proposals "draw a lot of attention each year." The NCAA "declined to comment on the priority seating tax-break proposal" (REUTERS, 2/2).

[Coleman]

That's not true.  A true flat tax is opposed by many on the lower level because today they don't pay a dime and now would.   A true flat tax means everyone pays.

Now, if you want to argue a flat tax for only the 53% that pay now, that's a different story and fits more of your situation.  

I'd argue for a flat tax of all income above the poverty line. Its pretty simple.

Everyone gets a standard deduction for the amount of income at the poverty line, according to their legal family situation. For me, that's $11,670. You then find the right rate to tax across the board for all income over the poverty line to get to a balanced budget. I'm not sure what that is. 10%? 15%? 20%? 25%? Would need someone to do the math to get to the right number. No other deductions. Capital gains are taxed at the same rate. Everyone can do the simple math.

Persons in
Family Unit   48 Contiguous States
and D.C.   Alaska   Hawaii
1   $11,670   $14,580   $13,420
2   $15,730   $19,660   $18,090
3   $19,790   $24,730   $22,760
4   $23,850   $29,820   $27,430
5   $27,910   $34,900   $32,100
6   $31,970   $39,980   $36,770
7   $36,030   $45,060   $41,440
8   $40,090   $50,140   $46,110
Each additional
person adds   $4,060   $5,080   $4,670

[Chicago_inferiority_complexes]

The "squealing" comes from the reaction to your pot shots at random deductions that didn't really demonstrate any understanding of the concepts at hand.

If you're pro getting rid of ALL deductions, just say that.  Don't say the deduction on donations from season ticket sales is stupid because _______.  Say it's stupid because you think all deductions are stupid.

I would get rid of all deductions except those made to a true charity. I'm sorry, but your basketball seats aren't included in my mind.

If you sweater vests want to make donations that have nothing to do with where you are seating, feel free.

[GGGG]

I would get rid of all deductions except those made to a true charity. I'm sorry, but your basketball seats aren't included 80 my mind.

OK, so you are deciding to simply be ignorant.  (The Marquette B&G Fund is a charity.)

[Chicago_inferiority_complexes]

Come to think of it, I would probably get rid of all deductions entirely.

[Lennys Tap]

did some one mention free beer?

It's an "investment" in our citizenry's well being.

[mu03eng]

I'd argue for a flat tax of all income above the poverty line. Its pretty simple.

Everyone gets a standard deduction for the amount of income at the poverty line, according to their legal family situation. For me, that's $11,670. You then find the right rate to tax across the board for all income over the poverty line to get to a balanced budget. I'm not sure what that is. 10%? 15%? 20%? 25%? Would need someone to do the math to get to the right number. No other deductions. Capital gains are taxed at the same rate. Everyone can do the simple math.

Persons in
Family Unit   48 Contiguous States
and D.C.   Alaska   Hawaii
1   $11,670   $14,580   $13,420
2   $15,730   $19,660   $18,090
3   $19,790   $24,730   $22,760
4   $23,850   $29,820   $27,430
5   $27,910   $34,900   $32,100
6   $31,970   $39,980   $36,770
7   $36,030   $45,060   $41,440
8   $40,090   $50,140   $46,110
Each additional
person adds   $4,060   $5,080   $4,670

Poverty line floats and do you mark it to a region or national poverty line.  Poverty in Chicago or LA calculates a lot different than poverty in say Baraboo Wi or the pan handle of Texas

[Coleman]

Poverty line floats and do you mark it to a region or national poverty line.  Poverty in Chicago or LA calculates a lot different than poverty in say Baraboo Wi or the pan handle of Texas

Its a valid point. I'm not sure how it would be localized, if at all. I'm not a policy-maker :-)

[mu03eng]

Its a valid point. I'm not sure how it would be localized, if at all. I'm not a policy-maker :-)

Mechanically, it's probably better to collect from all and then based on your income level at the end of the year distribute a subsidy to obtain a "standard of living" level.

FYI, even at minimum wage, working 40 hrs a week for 50 weeks a year....You would achieve an income above the poverty line (assuming no dependents, but that's a whole other thing)

[warriorchick]

Part of the problem is there are too many people who don't have any skin in the game.  Everyone who has income of any kind (and basically everyone does, if you include entitlements) should pay something, even if it is $1 a week, and  even if you have to initially increase entitlements by the amount they would have to pay in taxes.

It's easy to say, "Yeah, tax the crap out of those people!"  when it doesn't affect your pocketbook. If everyone paid income taxes, the conversation would be more along the lines of "Raise taxes?  Aw, hell, no!  I can't afford what I am paying now!"

[GGGG]

Part of the problem is there are too many people who don't have any skin in the game.  Everyone who has income of any kind (and basically everyone does, if you include entitlements) should pay something, even if it is $1 a week, and  even if you have to initially increase entitlements by the amount they would have to pay in taxes.

It's easy to say, "Yeah, tax the crap out of those people!"  when it doesn't affect your pocketbook. If everyone paid income taxes, the conversation would be more along the lines of "Raise taxes?  Aw, hell, no!  I can't afford what I am paying now!"

I think you are dreaming if you think that just because someone pays "$1 per week" that they aren't going to want richer people to pay more.

[chapman]

I would get rid of all deductions except those made to a true charity. I'm sorry, but your basketball seats aren't included in my mind.

If you sweater vests want to make donations that have nothing to do with where you are seating, feel free.

I donated to a wildlife preservation fund recently.  They sent me an adorable stuffed elephant.  If I had donated at a lesser tier, I would have only received a postcard; at a higher tier, I would have also gotten a framed portrait and tickets to a park.  My donation will be used to support wildlife preservation efforts.  Should that donation be tax deductible, or is it nullified because I was given something in return?  

Same thing would go for the Blue & Gold Fund.  Someone donates at a higher tier, they receive better seating as a return.  Their donation is used to fund athletic scholarships for student athletes.  Is funding athletic scholarships not a charity (even if those scholarships are for non-revenue generating sports), but wildlife preservation is?

[warriorchick]

I think you are dreaming if you think that just because someone pays "$1 per week" that they aren't going to want richer people to pay more.

Of course they would.  But at least they would be more likely to pay attention to the tax situation in general.

[warriorchick]

I donated to a wildlife preservation fund recently.  They sent me an adorable stuffed elephant.  If I had donated at a lesser tier, I would have only received a postcard; at a higher tier, I would have also gotten a framed portrait and tickets to a park.  My donation will be used to support wildlife preservation efforts.  Should that donation be tax deductible, or is it nullified because I was given something in return?  

Same thing would go for the Blue & Gold Fund.  Someone donates at a higher tier, they receive better seating as a return.  Their donation is used to fund athletic scholarships for student athletes.  Is funding athletic scholarships not a charity (even if those scholarships are for non-revenue generating sports), but wildlife preservation is?

Technically, you should deduct the value of the adorable stuffed elephant from your donation when you declare it on your taxes.  However, because its value is de minimus, I doubt the IRS is going to be sending you an audit notice over it.  Good seats for a Marquette game, however, do have real value. 

[brandx]

OK, so you are deciding to simply be ignorant.  (The Marquette B&G Fund is a charity.)

Maybe C_I is just referring more generally to abuses with people/companies getting Sports/Entertainment tax breaks and picked a bad example to make his point.

Having been the recipient of numerous visits to Brewers/Bucks luxury boxes and Lambeau Field with tickets from corporate vendors, I've often thought this is kind of a gray area. I've done a lot of eating, drinking, and partying on their dime for which they are receiving breaks, but conducting business was rarely a part of things.

I always thought they were getting a lot from the gov't simply for a meet 'n greet. When there was actual business to conduct, their reps would be on-site to get things accomplished.

[GGGG]

Of course they would.  But at least they would be more likely to pay attention to the tax situation in general.

I'm sorry, but I simply don't agree.  This is a talking point IMO that has no basis in reality.  

[Lennys Tap]

I would get rid of all deductions except those made to a true charity.

When you become King you can have that prerogative. Until then, the guidelines that define what a "true charity" is won't be governed by your whims. Fair enough?

[mu-rara]

My father in law is retired and pays a minimal income tax every year.  He is AOK with his income tax.

He b*tches to high heaven when his property tax bill comes.

Everyone complains about taxes.  Mostly, the ones that they actually pay.