Not at all. And if his statement were just opinion, no problem.
But when the thread is entitled something which is an objectively untrue fact, I would think the mods would intercept it, just to maintain the integrity of the board.
If I started a thread entitled "Entire Vols Football Team Are Martians," i would expect it to be taken down pretty quickly. This thread is premised on a claim of equal accuracy.
Your employer should handle income taxes, you do nothing but get a statement. Everything else you file or wherever you have your investment does.
You are 180 out. Withholding should be completely done away with. The average schmo has no idea how much tax they pay each year because of this. That's why it's laughable and pathetic at the same time when you hear people taking about getting taxes back in April. When you ask them how much they paid, all they can tell you is that they got money back... Everybody should have to calculate and file quarterly at a minimum. Per paycheck would be better, but ya gotta start somewhere. When Joe 6 pack sees how much the .gov is taking.. there WILL be a revolution, and that "Soak the rich" mantra will disappear.
Tax Credits for Illegal Immigrants
Q: Does the IRS pay billions in tax refunds to workers who are in the U.S. illegally?
A: Yes. The Treasury Departments Inspector General determined that $4.2 billion was paid in 2010, up from less than $1 billion in 2005. Leading Democrats are resisting a bill that would stop future payments.
Figure state,local and sales taxes on top and you are lucky to keep 50%.
Exactly. The out of sight, out of mind HIDDEN taxation (via withholding) that the .gov has on everybody works exactly as designed. Joe schmo does not KNOW how much tax he is paying every month, and therefore does not complain. If he had to write a check every month....
You are 180 out. Withholding should be completely done away with. The average schmo has no idea how much tax they pay each year because of this. That's why it's laughable and pathetic at the same time when you hear people taking about getting taxes back in April. When you ask them how much they paid, all they can tell you is that they got money back... Everybody should have to calculate and file quarterly at a minimum. Per paycheck would be better, but ya gotta start somewhere. When Joe 6 pack sees how much the .gov is taking.. there WILL be a revolution, and that "Soak the rich" mantra will disappear.
But you are missing the point. Joe 6 pack gets it all back anyway. He is most likely claiming married and 15 dependents on his W4 and the filling a 1040EZ and getting a full refund.
I get that. I still say that most people in that situation have an "out of sight, out of mind" mindset. He never SEES that money, therefore it doesn't exist. All he ever sees is his net, and he gets a nice bonus in April. If he had to actually PAY those taxes, I gu-ar-an-tee you that his feelings about taxes would change.
I get that. I still say that most people in that situation have an "out of sight, out of mind" mindset. He never SEES that money, therefore it doesn't exist. All he ever sees is his net, and he gets a nice bonus in April. If he had to actually PAY those taxes, I gu-ar-an-tee you that his feelings about taxes would change.
But why would you go to a system where they have to write a check when they get it back? The way to solve your issue is to go to a different tax system where all of us pay the same %. That way when they look at their check and see the money gone, it never comes back.
I absolutely agree with a flat tax. Constitutionally amended percentage with zero deductions and zero credits. Everybody has skin in the game, and people that make more money pay more money.
The other is psychological. Joe 6pack needs to SEE that money going out of his bank account before he can appreciate that he is paying it to begin with. The way it is now, he doesn't. Even if he knows it is coming back, the psychology of writing a check for things he isn't able to touch immediately will hit him pretty hard. The average schmo can't do math, why else would they play the lottery? Of course the real problem with writing a check is the rubber check factor.
What is there other than net? You are arguing two different points. Your withholding generally has nothing to do with your net. 47% have the minimum withheld and still get it all back.
I guess I am looking for a more realistic solution. The only way this works is for people to get paid in cash and then have it taken right back out of their hands. Be a lot of bad checks written otherwise.
