I got a state refund but a federal tax bill that was 2x that amount. Bonus pushed me into a tax bracket higher than the withholding rate on my salary. Typically happens, which I'm fine with. I don't like loaning the government money at 0%.
Like jack, I try to keep it as close to $0 as possible. No way do I want the government to have MY money any longer than possible, and interest free at that! Bad enough they take it all year long as it is. I am paying $223 this evening.
I wish withholding would go away. Can you imagine the uprising if people had to write out a check to the irs EVERY pay period?
I did get a refund and it came about a month and a half ago. I spent SOME of it (a few hundred) in the club and had a great time. The rest of it went into getting new tires and an alignment for my car. :(
motor,
I wasn't till the mid 80's that I even knew state income taxes existed. A co-worker was moving to the Carolina's and he was mentioning the income tax rate differences between the two states. I was a little shocked.
Property and income taxes should be abolished. Property taxes make a serf out of you where you do not actually own you home you rent it from the government and income taxes should be changed to point of use taxes (sales tax) and excise taxes (cars, boats, etc.) so the extremely wealthy do not have tax shelters. You pay tax when you purchase a $100,000 car or boat etc.. That tax would gather more money and would catch the under ground economy (drug dealers) that make their money under the table. You exempt rent, food and medicine. That will encourage saving for a goal. Right now if you save your money the government hits you with a penalty by taxing you on interest and dividends. The rich spend their money on expensive things therefore you can collect taxes at the point of sale. The less wealthy do not buy very expensive things so they will pay very little taxes.
There would also be another purpose: It would make people face just how much the government steals from you each year. If you had to pay a 30% sales tax on every purchase most would begin to wonder what am I getting for all this money they are taking?? Most people believe the lie of "take home pay" and never even really notice how much the bureaucrats take from your pocket each minute of each work day. Government is the world's largest consumer that only consumes and creates nothing.
That would get rid of the criminals at the IRS and their patrons on both sides of the aisle who are currently using them to intimidate the citizenry. The IRS is the only agency that operates outside the rule of law. They can seize your property, bank accounts, wages, and throw you in jail without warrant, court order, or due process and it is up to you to prove your innocence not for them to prove you guilty.
If government is the answer it must be a really stupid question.
Just sent a check to Uncle for $1450. Spent my $150 state refund months ago. A lot of what Tired Traveler says makes sense. USA should also investigate a value added tax and reduction or elimination of the income tax. Right now most strippers make money on their taxes with the earned income credit. Social engineering through tax policy
Last time I was audited it turned out the IRS owed me money.Two good things came from it,I didn't have to deal with that whiney Jew CPA anymore and I never heard from the IRS again.
You need to stay with a sales tax or point of sale tax. That way the tax is in everyone's face. Also the Sales tax collection apparatus is already in place in almost all states. A value added tax or VAT tax is hidden so it is insidious just like income tax and it also makes you must report your profit margin to the government and they can then dictate to you how much profit you are Allowed to make. That is happening in Europe now.
The best argument for a national sales tax vs our current income tax?
Stripper boyfriends. Unemployed dudes that have nice rides, expensive athletic shoes, smart phones etc...but pay zero tax.
I wish I could deduct the money I pay dancers - I would have had a refund instead of sending Uncle sam $7000.00 on top of the money he withheld from my pay check.
Got about $500 back from both, but I'm recovering from a surgery, so it will languish for a while before it ends up in a dancer's hands because my body's not ready to handle full grindage yet and won't for another few weeks. Or it will go towards my health care deductible. One or the other.
I don't mind a refund. Everyone seems to believe that investing more in a workforce generally leads to better results ... except with government, when everyone thinks the share they give is too high and everyone tries to finagle their way out of paying theirs. I believe in helping the common good, so I figure my $500 loan makes up for at least a few people who don't want to help others. You can thank me later.
"Government is the world's largest consumer that only consumes and creates nothing"
Always a little ironic to see someone post this canard on the Internet.
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AJ,
I'll tell you what, just to help you and contribute to your "feel good" mentality, you can pay my taxes next year!
The top 20% of the wage earners in this country pay NINETY, read again, NINETY percent of the taxes. Feel better now?
I am paying too much in.... Over $5000 total to both state and fed. So a kick in the nuts at that. Clubbing will take a back seat....for about a month....maybe.... I do want some tities in my face tonight...;-)
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