Taxes

[WBxx]

19 hours ago, FretaBWet said:

We will probably never see a flat tax in America. Too many hogs at the trough that will vote against it. Lawyers making money doing taxes. Lawyers making money representing people who didn't file/pay taxes. All the accountants and companies like H&R block making money off a completely f*#&!% up tax code. The 1% that pay no taxes because they can pay less to lawyers and accountants to avoid paying taxes. A flat tax would solve a lot of the problems but we'll never see one. It's the downside to a representative democracy, too many people with a vested interest and then throw in all the stupid people that are easily swayed and you have the votes to kill it.

Hugs,

Freta

Said another way, flat tax would take power away from politicians.  They'll never let that happen.

[AwakenEvil]

57 minutes ago, WBxx said:

Said another way, flat tax would take power away from politicians.  They'll never let that happen.

And make everyone pay. From the poorest amongst us to the richest. Unfortunately like the lovely @FretaBWet said... not gonna happen

[ValentinesStuff]

9 hours ago, AwakenEvil said:

And make everyone pay. From the poorest amongst us to the richest. Unfortunately like the lovely @FretaBWet said... not gonna happen

You can still have the standard deductions and such. Realize that a single person making $13,000 is paying Federal Taxes.

[AwakenEvil]

4 minutes ago, ValentinesStuff said:

You can still have the standard deductions and such. Realize that a single person making $13,000 is paying Federal Taxes.

I think its $12000 or less but that first $1000 is taxed at 10% up to 65k a year. But once you start looking at income credits and other handouts through the government its really not a tax at that point on the $1000 of income.

[ValentinesStuff]

5 minutes ago, AwakenEvil said:

I think its $12000 or less but that first $1000 is taxed at 10% up to 65k a year. But once you start looking at income credits and other handouts through the government its really not a tax at that point on the $1000 of income.

Back when I was making around that, I looked into those handouts. I made about $500 a year too much. Dropping that $500 would have qualified me for about $400 in handouts. Single people with no dependents have few ways to lower their tax burden. On the other hand a young lady with a couple of kids was getting back about $5,000 on $0 taxes paid. 

[AwakenEvil]

33 minutes ago, ValentinesStuff said:

Back when I was making around that, I looked into those handouts. I made about $500 a year too much. Dropping that $500 would have qualified me for about $400 in handouts. Single people with no dependents have few ways to lower their tax burden. On the other hand a young lady with a couple of kids was getting back about $5,000 on $0 taxes paid. 

I worked at a grocery store and in the same boat. I remember being told I needed to quit my job to get a handout. I was like I barely am making ends meet and you mean I need to quit to get a handout. What sense does that make... I ate a lot of cheap noodles and $1 pizza

[square_duck]

On 4/14/2022 at 11:50 AM, DailyDi said:

Doing taxes today, not going well. Damn self-employment taxes are crazy.

And I thought I was the only one... ?????

 

On 4/15/2022 at 12:03 PM, willnotwill said:

I got a lot back last year (I must have screwed something up).   This year I ended up owing several hundred thousand between fed and state.

 

 

Yup!  believe it or not, there are people here and elsewhere who make a good amount of $$$$, and yes we pay a lot in taxes as well. It take a lot of time and hard work to get to that level, and only you can decide if it was worth it when you get there. Just depends on what you want, and what you are willing to do, and sacrifice, to get there. 

[AwakenEvil]

8 hours ago, square_duck said:

Yup!  believe it or not, there are people here and elsewhere who make a good amount of $$$$, and yes we pay a lot in taxes as well. It take a lot of time and hard work to get to that level, and only you can decide if it was worth it when you get there. Just depends on what you want, and what you are willing to do, and sacrifice, to get there. 

I csn tell you this is absolutely true. My wife and I paid a LOT in taxes this year

[2sail2]

There is some date that they say is tax freedom day:  the date at which point you stop paying the government and you get to keep the money you earn.  Looks like it's April 16.  You worked three and half months for the government...105 days.  There's on average 200 working days a year.

[rusty pins]

I do hate how a lot of our taxes go for stupid stuff or to lazy people who won't even try and look for work, but taxes do fund a lot in our country.  Without a military we would be at the mercy of any other country, including Russia!  If they will invade a country that has an army, what do you think would happen to one without an army?  What would the country be like if there were no taxes to support police and fire departments?  All our garbage would pile up without municipal taxes to pay for garbage removal.  I enjoy parks and it would be sad if national parks closed due to a lack of funding.  Yet, how would I even drive to one without federally funded highways and the like.  No one likes being taxed but overall, it is a necessity!  I wish those who were multi millionaires and billionaires would pay their fair share.  There are many philanthropists among the very rich who do donate a lot of their money, but we all know of the greedy corporations who look for tax loopholes and any way to legally try and pay as few taxes as they can, many even moving off shore with their companies to avoid the taxes.

[BabyJune]

Still waiting for my pathetic refund. I'll take what I can get, I guess. I have a feeling it's all going toward a new power mower this year, though.