The Federal Income Tax Absolutely Sucks.............

Well, I just got back from paying my taxes....what a scam. I broke my back last year to make money from my business, and 10 percent just went to the IRS, for what? Wars, social programs for bottom feeders?

Now, some of you will post talking about the U.S. government "needs" the money for bridges, roads, and all that junk. Please........the U.S. government wastes money, and it is in a deficit because of it. The federal income tax is extortion, and the IRS is a mafia. Don't believe me? Don't file and watch what happens.

You will be thrown straight in jail..........wow, we definitely live in a free country for sure.

Then I made the moronic mistake of having H&R block file my taxes instead of doing it myself, now I had to pay them $192 in addition to the IRS tax....H&R Block sucks......

So, no matter which side of the political fence you're on, here is what it boils down to:

Democrats: The top democrats want to create a socialist/welfare state, where you don't have any guns, and you pay ever higher taxes to fund social programs (mostly for bottom feeders, though some people need it like the handicapped). Basically, you work hard, build your business, and then your money is placed in a social program.

Republicans: Worship Multinational Corporations. Most top Republicans talk about free market, but then support companies like Walmart running mom and pop shops out of town. Also loves large corporations sending your job to third world countries. Republicans are notorious for making partnerships with large companies, and getting paid off.

So, basically, in the 2008 election, unless you vote an independent like Ron Paul, you will get either Hillary or Barack (who support gun control and high ass taxes, or a Republican like McCain who will attack bloggers and continue the worship of Multinationals. Both roads lead to the same destination.


By the way, I don't mind paying taxes. Its just that:

1. The government can't show a law saying we have to pay the f*cking federal apportioned income tax.
2. Government uses tax money for wars and classified projects used to further enslave us.
3. Already pay taxes everytime I buy something. If the U.S. government were frugal(yeah right), that should be enough to help them fund their junk.

4. If you make less than $30 grand per year, a 10% federal income tax really hurts your damn networth and savings. Instead of rewarding you for being self employed, you are punished.

 

Actually, I think many people in the world would give thanks if they ONLY had to pay 10%

 

I'll play Devils Advocate.

Although our current fiscal policy is rather dysfunctional, you must realize that generally speaking, money will always be spent on "wasteful" things. The goal of Keynesian counter-cyclical fiscal policy is not to balance the budget, but to balance the economy. Again, in a general sense, a budget deficit is not a bad thing. Would you rather have a contracting economy with a high unemployment rate on a budget surplus, or the opposite with a deficit?

 

I would rather have a non-contracting economy without a high unemployment rate, with a deficit, so long as it isn't too high. The U.S. government's deficit appears to be in the trillions. A deficit isn't a bad thing if it is small, but it is better to not have one. But when the difference is in the trillions......it is a lot, even for the government.

10 percent isn't bad if you make alot, like $100,000, but if you make only $20,000, 10 percent can be a lot, even if you saved 30 percent of it. I suppose you would still be ahead but.............the income tax is frustrating. If you make $100,000, you will get charged a LOT more than 10%, and I can see why someone in that income bracket would only want 10 percent. But if you made as little as I did, 10% is horrible.

 

Ok, I'm still playing Devil's Advocate here.
Trillions may seem like a lot, but it's not too high relative to our GDP. At the time of WWII, nearly half of the economy was the government.

 

Thank you local congressman for all that money wasted on Pork Projects...

 

Our economy is based on debt. Paying off that deficit would actually cause problems.

Banks loan out money and make money off that debt by way of interest. The same is true of the goverment. When you make a mistake on your taxes and end up over paying, when you correct you actually get interest back as well.

Just pretend that your small amount in taxes only goes to the worthwhile things.

The $1000 or so I paid in taxes last year covered a small fraction of a congressman's salary. If I wanted a "refund" for any particular government program I didn't like I would be lucky to get a small fraction of a penny.

When you're paying hundreds of thousands in taxes, then you can complain about what "your" money is paying for.

 

It would definitely cause problems, for bankers only.

 

muaha 10% , I wish it was

 

You and me both. My tax liability this year came in at just under 37%

 

I think mine was 33%

just think of all those billions going to help all those loveable Iraqi Muslims, makes me feel a lot better about it

 

Nothing could make me feel better about cutting the mafia, errr, IRS a $45k check every April. It makes me sick when I think about how I could use that money to help expand my business.

 

I know I have said this before....but it is time to do something about our tax code...time to implement the fairtax.

 

http://www.newsnet7.com/view_video.php?viewkey=75098fe977004015c619

 

What's a fair tax?

Progressive tax: The rich pay a higher percentage than the poor (which is actually punishing ambition therefore regressive).

Flat percentage tax: We all chip in 50% (combined income, medi*, social security (both visible and invisible part) local, property, and sales taxes add up to 50% for most of us)

Flat tax: We all chip in $10,000 per head. As a family of 4 mine would be $40,000.

Encouraging tax: The more you make the less you pay.

 

How is that? It would cause problems for the entire nation.

 

How so?
...

 

Raising taxes dramatically will discourage aggregate consumer spending. Consequently, unemployment will rise, and the economy will fall into a recession.
It's the fallacy of balancing the budget rather than the economy. Now what's your reason?

 

Why raise taxes to pay it off? There are other ways

 

The mistake people make is thinking that the flat tax will lower their taxes. Right now 20% is about what the middle class pays. So let's be generous and say the flat tax is 15%.

Poor people don't end up paying much of anything in taxes so now they're stuck paying 15%. The middle class gets a tax break of about 5% which saves them a thousand or two a year.

The rich used to pay 40% or more in taxes and paid the majority of all the taxes in the US. Now they're saving 50% of their taxes which will directly hurt the bottom line of the US government.

The government will need to raise taxes and since it's a flat tax everyone gets hit by it so who suffers? The poor and middle class.

Right now the rich demand more of the government and therefore pay the majority of the taxes. Since they pay the most they get the biggest breaks when the government can afford to give them.

The tax system seems to punish people for making more money but the extra bit in taxes never negates the increase in pay. So, it's still always better to just earn more.

It's all about being smart with money and working your way up. Taxes are the least of what eats at your paychecks. If you think taxes are making life difficult you havn't really looked at where you spending all your money.