Congress is going to have to act for sure
Why should they? The elected govt want more money
everybody pay their share, simple. From biggies to companies running on loans
Yea please tax us to death. We love it. Please 🙏 please. Let's make sure we elect someone in 24 who will tax us even more. Middle class shouldnt exist we all should be poor and living on govt handouts.
Yeah this is the nail in the coffin. Tech salaries will probably be depressed for at least 5+ years now. Originally I was optimistic that tech would make a major comeback next year q4 but it's looking like 2030 at least now. Buckle up, the ride will be bumpy.
If you even read just 2 paragraphs you’ll know that this isn’t Biden.. it’s congress fighting over the debt ceiling. And it’s not even about increasing taxes.. it’s about tax credits specifically for r&d. Tf is this garbage post? It’s “thanks Obama” all over again, but it’s “thanks Biden” now
Apocalypse. Burry your head underground. 🤭
It will increase offshoring! Because offshoring allows companies to deduct the development cost (r&d) cost fully in a single calendar tax year.
This is so annoying. Section 174 was part of the trump tax bill that he passed in 2018 tho. There was a lot of expectations that it would be repealed by the current administration. The cash flow problem is because you can only claim the R&D cost every five years, so eventually it'll balance out but a of companies are in for a ride if this doesn't get repealed
If this is true, then the tech market is going to get much worse, to the point where we’ll be flat out decimated and completely removed from any leverage as workers. Hopefully it doesn’t become as horrible as the dotcom bust, but honestly, a recession is a very real possibility at this point. TC: 90K, early 20s trying to break into six figures
Salaries will clearly get cut, people will leave the industry, companies will die
Honestly, we’ve already seen this already on Blind with people unable to find jobs and companies disappearing overnight. Even new offers are significantly less than the ones we saw in 2021.