the stupid tax code...
nooshinjohn
Posts: 25,380
get this one... wife made xxxx.00 and paid 700 in taxes, her return is 1500.00!!! My return has an adjusted gross of xxk. My taxes... 3K between FED and state!!! I owe 2k this year on the same income I got 2k BACK on last year! My wife gets back MORE than she PAID!!! and it came out better for us to file separately so we get her return so I can pay my tax bill with it...:mad:
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“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson
“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson
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I don't know what's going on with taxes, but for '07 we got $X,X00 [high side] smackers back from Uncle Sam and the states. This year, between US and the states?
$32 bucks refunded.
We both earned less and expenses were more........WAY more for corporate considering the raping I got for gas expenditures which at the height of gas prices, was $1,600 for one month in particular. This is supposed to help the economy? :rolleyes:~ In search of accurate reproduction of music. Real sound is my reference and while perfection may not be attainable? If I chase it, I might just catch excellence. ~ -
That's what I call 'hosed'.
Also, tax laws for tax year 2008 were already set in stone by the Congress of 2007-2008 and by President Bush. I don't think anyone actually had the power or foresight to use prophetic abilities and enact economic stimulation through tax laws. Especially towards the end of Bush's term when he was a lame duck president.SDA 1C, SDA 2A, SDA SRS 2, CMT-340SE, Swan M200MKII, Swan D1080MKII, Behringer MS40
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thats why I think a national vote the **** out campaign is great idea... just imagine the look on the faces of 435 congressmen/women when the all get replaced at the same time by a new bunch, and how responsive the new crowd would be to the will of the people... before somebody flames this statement, I know it will never happen but I at least like the way it sounds..The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD
“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson -
Hehe, I was just glad we owned less than 5 figures this year...There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. We not only acquired a vast population of morons, we have inculcated all morons, old or young, with the doctrine that the decent and industrious people of the country are bound to support them for all time.-Menkin
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all true ....but arent political posts a no no? And ANYTHING to do with taxes always end up as a P word thread......................
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all true ....but arent political posts a no no? And ANYTHING to do with taxes always end up as a P word thread......................
Taxes are a reality...regardless of political affiliation.
F the IRS. I just had to write a large check. It sucked. At least I didn't have to pay an under withholding penalty. Unfortunately I just sat down to figure out my REAL tax burden based on everything I pay (federal, SS, medicare/medicaid, state, sales tax, property taxes, gas taxes, etc, etc.). Of course some of those are estimates. It is well over 40% of my income. I don't want to hear any whining from anybody that isn't there."Just because youre offended doesnt mean youre right." - Ricky Gervais
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I thank all of you.
I love America.
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Let's see a flat tax!Sharp Elite 70
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wingnut4772 wrote:Let's see a flat tax!
I could live with that!"Just because youre offended doesnt mean youre right." - Ricky Gervais
"For those who believe, no proof is necessary. For those who don't believe, no proof is possible." - Stuart Chase
"Consistency requires you to be as ignorant today as you were a year ago." - Bernard Berenson -
Fairtax or flat tax, I'd take either over the current BS... Of course the flat tax would never pass because it would be a HUGE tax break for the rich and a big increase on the poor...There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. We not only acquired a vast population of morons, we have inculcated all morons, old or young, with the doctrine that the decent and industrious people of the country are bound to support them for all time.-Menkin
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+1...reeltrouble1 wrote: »i thank all of you.
I love america.
Rt1"He who fights with monsters should look to it that he himself does not become a monster. And when you gaze long into an abyss the abyss also gazes into you." Friedrich Nietzsche -
Fairtax or flat tax, I'd take either over the current BS... Of course the flat tax would never pass because it would be a HUGE tax break for the rich and a big increase on the poor...
Yep. God forbid drug dealers and prostitutes pay taxes.Sharp Elite 70
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it would depend on how such a tax were srtuctured. The plan I supported would have had three tiers. The first tier would have exempted all income below 25k from taxation.The second tier was something like 12% on all income above 25k on up to 125k. The top tier would have been 28% on all income above 125k. It also would have automatically adjusted once those income thresholds had been crossed, and required a two thirds super-majority of congress to raise the rates unless there was a formally declared state of emergency such as a war.Fairtax or flat tax, I'd take either over the current BS... Of course the flat tax would never pass because it would be a HUGE tax break for the rich and a big increase on the poor...
It would have eliminated ALL deductions and did not get the support needed due to the IRS officially becoming the government waste program it has been for quite some time, and would have been disbanded. Tax professionals also have a powerful lobby group that WANTS confusion to exist in the tax code, as without it they to would be useless. This also would have been applied only to individuals and not business, as I have not idea if there was any plan to change business tax codes...The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD
“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson -
A flat tax should be a flat tax for ALL. Forget this progressive BS."Just because youre offended doesnt mean youre right." - Ricky Gervais
"For those who believe, no proof is necessary. For those who don't believe, no proof is possible." - Stuart Chase
"Consistency requires you to be as ignorant today as you were a year ago." - Bernard Berenson -
A flat tax should be a flat tax for ALL. Forget this progressive BS.
+1. There's a reason they use percentages. They automatically scale based on how much you make.If you will it, dude, it is no dream. -
the only prgoressive thing about it is the abolition of the IRS... THAT'S PROGRESS!!:cool:. nobody pays taxes until they reach the first 25k, after that they pay.A flat tax should be a flat tax for ALL. Forget this progressive BS.The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD
“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson -
nooshinjohn wrote: »it would depend on how such a tax were srtuctured. The plan I supported would have had three tiers. The first tier would have exempted all income below 25k from taxation.The second tier was something like 12% on all income above 25k on up to 125k. The top tier would have been 28% on all income above 125k. It also would have automatically adjusted once those income thresholds had been crossed, and required a two thirds super-majority of congress to raise the rates unless there was a formally declared state of emergency such as a war.
It would have eliminated ALL deductions and did not get the support needed due to the IRS officially becoming the government waste program it has been for quite some time, and would have been disbanded. Tax professionals also have a powerful lobby group that WANTS confusion to exist in the tax code, as without it they to would be useless. This also would have been applied only to individuals and not business, as I have not idea if there was any plan to change business tax codes...
umm, that's essentially what we have, just there are a bunch of deductions in the current system...
It is a progressive tax like the current one- The more you make, the more you pay percentage wise... Just like today...There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. We not only acquired a vast population of morons, we have inculcated all morons, old or young, with the doctrine that the decent and industrious people of the country are bound to support them for all time.-Menkin -
umm, that's essentially what we have, just there are a bunch of deductions in the current system...
It is a progressive tax like the current one- The more you make, the more you pay percentage wise... Just like today...
if that were true then 3/4 of my income above 25k went to taxes...
and that would be only to the fed. what we have now is a complete mess.The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD
“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson -
A flat tax should be a flat tax for ALL. Forget this progressive BS.
Well you need a little bit of adjustment at the bottom to account for just basic cost of living. My tax code:
Figure out the cost of the average 3 BR apartment in your metro area and 1 year worth of food. Double that. Everything you earn above that is taxed at a flat rate- figure out what that is so it'll be revenue-neutral.
So in some areas, you'll pay nothing on the first $25K, in Manhattan or SF it might be the first $50k. But once you take out the cost of living, everyone pays the same.
'course I'm in the same boat as Shack & JDH... Owed mid-4 figures and I probably paid more in taxes than nooshinjohn earned last year.Gallo Ref 3.1 : Bryston 4b SST : Musical fidelity CD Pre : VPI HW-19
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nooshinjohn wrote: »if that were true then 3/4 of my income above 25k went to taxes...
and that would be only to the fed. what we have now is a complete mess.
I don't think you understand out current tax system then... It's exactly the same method as you described which is a progressive tax.
UNC: Just set it at the poverty level. People in high cost areas generally make more anyway, if they don't, they have the option of moving. I belive the first flat tax propasal was somthing like no taxes to 25K and 15% for every dollar past that.
I do like the fact that I probably paid more to get my taxes prepared than probably 50% of the population paid in federal income taxes... :rolleyes:There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. We not only acquired a vast population of morons, we have inculcated all morons, old or young, with the doctrine that the decent and industrious people of the country are bound to support them for all time.-Menkin -
Why should those making less than $25,000 be excluded? They are beneficiaries of the federal system (actually they are probably the largest beneficiaries) like everyone else."Just because youre offended doesnt mean youre right." - Ricky Gervais
"For those who believe, no proof is necessary. For those who don't believe, no proof is possible." - Stuart Chase
"Consistency requires you to be as ignorant today as you were a year ago." - Bernard Berenson -
jdhdiggs wrote:I belive the first flat tax propasal was somthing like no taxes to 25K and 15% for every dollar past that.
I know when they started talking about it a couple of years ago 10-12% was the figure thrown out. Of course NOW that probably isn't enough..:rolleyes:"Just because youre offended doesnt mean youre right." - Ricky Gervais
"For those who believe, no proof is necessary. For those who don't believe, no proof is possible." - Stuart Chase
"Consistency requires you to be as ignorant today as you were a year ago." - Bernard Berenson -
UNC: Just set it at the poverty level. People in high cost areas generally make more anyway, if they don't, they have the option of moving. I belive the first flat tax propasal was somthing like no taxes to 25K and 15% for every dollar past that.
I do like the fact that I probably paid more to get my taxes prepared than probably 50% of the population paid in federal income taxes... :rolleyes:
Poverty level is a fuzzy idea, but yeah, I'd take that.
In response to Shack, you gotta leave something at the bottom untaxed, simply because there's a basic cost of living that everyone pays. If that's 25K a year and you make $25K a year, once you get taxed, you're in the hole. I'd take any flat tax as long as it has a zero bracket (or very low bracket) on poverty level/ 25k/ cost of living/ whatever.Gallo Ref 3.1 : Bryston 4b SST : Musical fidelity CD Pre : VPI HW-19
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Why should those making less than $25,000 be excluded? They are beneficiaries of the federal system (actually they are probably the largest beneficiaries) like everyone else.
I will say that I'm very amused to see many people that benefit from progressive taxes rallying around plans that benefit me.Gallo Ref 3.1 : Bryston 4b SST : Musical fidelity CD Pre : VPI HW-19
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How about a drug dealing prostitute? would she have to pay double considering she has 2 jobs?wingnut4772 wrote: »Yep. God forbid drug dealers and prostitutes pay taxes.
I have always been a believer in a user sales tax simply because you catch everyone drug dealers illegal aliens babysitters the kid mowing your lawn etc, when you spend you pay, there is reasons why so many people doing illegal things move there money offshore the economy would benefit greatly if that money was spent and kept here, and the money saved by the IRS not having to try and collect all these taxes would be enormous now I know of course this would present other problems like making sure all companies actually paid this sales tax and not putting it in there pocket but yet again even that money would be taxed when it was spent by the companies.
REGARDS SNOWWell, I just pulled off the impossible by doing a double-blind comparison all by myself, purely by virtue of the fact that I completely and stupidly forgot what I did last. I guess that getting old does have its advantages after all
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wingnut4772 wrote: »Yep. God forbid drug dealers and prostitutes pay taxes.
Did you just generalize all poor people as being prostitutes and drug dealers...? That's just wrong. I work in the tax industry and there are many many honest people who are trying to eek a living as a plumber, electrician, construction worker, etc. and who are currently poor due to the economic situation. They are very VERY thankful for the progressive tax structure. Especially those refundable credits: EIC and Child Tax Credit.SDA 1C, SDA 2A, SDA SRS 2, CMT-340SE, Swan M200MKII, Swan D1080MKII, Behringer MS40
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My wife overpaid $2500 in 2008.
I need to pay $5700 for 2008.
Obama is giving us $8500 because we just bought a house!
I left an extra $1000 in there for my 2009 taxes.
I'm getting back $4300!!!! I LOVE you Obama!!!
Weird... I thought the First Time Homebuyer's Credit was $8000. Oh well, congrats! Just gotta know how to work the taxes.SDA 1C, SDA 2A, SDA SRS 2, CMT-340SE, Swan M200MKII, Swan D1080MKII, Behringer MS40
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Do you guy realize there's a tax on people making under $25k now?
I played with some figures someone making $16500 single no kids. Paid $1000 in tax payroll deduction, filed 1040ez form. Has the standard $8950 tax form deduction, leaving $7550 taxable. Refund $242.
Now did you realize that refund of $242 is a TAX of $758
So even the poor pay taxes. Now if they had a kid with Earned Income Credit (EIC) I consider that welfare as that kind of income you would get back more then you paid in its welfare. IMHO
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Now? Hasn't it always been like that? Unless you're talking about state income tax...SDA 1C, SDA 2A, SDA SRS 2, CMT-340SE, Swan M200MKII, Swan D1080MKII, Behringer MS40
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Just Federal.
And yes always like that, but enjoy when people say under $25k don't pay taxes. Well with kids yes, but not if single. Most people also have no idea what their tax is, most think if they get money back its ok.
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