Guest Gone & Forgotten Posted February 29, 2012 Share Posted February 29, 2012 wife and i had a discussion about illegals and the financial burden last night. She says amnesty will help the tax income of this country. I disagreed by saying that the majority of illegals are only going to show a < $20k annual income - most have > 1 child and that leads to large tax refunds. I have a child and have never agreed with the concept of getting paid by the GubMent for having a child. You should only get back equal or less than you put in. My step-son (27, 2 kids, disability most of his adult life - paralyzed one side of his body, still tries to work - legally) called up earlier this week pretty upset that he worked last year and now he's not getting $4500 tax refunds. He's getting $0. I asked how much did he put into the system? He gave a low figure, I said 'when is it logical to expect more out of something than you put in?' I know METH HEADS with kids that are getting 5-6-$7k tax refunds this year that haven't worked all year and been a drain on the system getting food stamps (then selling them for PENNIES on the dollar, i.e. $200 in groceries for $75 cash). THIS MADNESS HAS TO STOP our government is a joke. Link to comment Share on other sites More sharing options...
Golf for Life Posted March 1, 2012 Share Posted March 1, 2012 Our system is broken and has been for a long time, there has to be a fair way for all to pay there share, I emphasize FAIR. Link to comment Share on other sites More sharing options...
Bill-V8V Posted March 1, 2012 Share Posted March 1, 2012 This country started as a "small business" and was then built into what it was by them. But since the politicians have tried to kill them off our country is going down the tubes. I'd vote for that guy. Link to comment Share on other sites More sharing options...
Z71_Denali Posted March 1, 2012 Share Posted March 1, 2012 if only our gov't would introduce a new voting system... we could weed out some of these cockroaches that stay in term for decades and don't give 2 $h!ts about their job responsibilities Link to comment Share on other sites More sharing options...
Paul Mitchell Posted March 1, 2012 Share Posted March 1, 2012 wife and i had a discussion about illegals and the financial burden last night. She says amnesty will help the tax income of this country. I disagreed by saying that the majority of illegals are only going to show a < $20k annual income - most have > 1 child and that leads to large tax refunds. I have a child and have never agreed with the concept of getting paid by the GubMent for having a child. You should only get back equal or less than you put in. My step-son (27, 2 kids, disability most of his adult life - paralyzed one side of his body, still tries to work - legally) called up earlier this week pretty upset that he worked last year and now he's not getting $4500 tax refunds. He's getting $0. I asked how much did he put into the system? He gave a low figure, I said 'when is it logical to expect more out of something than you put in?' I know METH HEADS with kids that are getting 5-6-$7k tax refunds this year that haven't worked all year and been a drain on the system getting food stamps (then selling them for PENNIES on the dollar, i.e. $200 in groceries for $75 cash). THIS MADNESS HAS TO STOP our government is a joke. Obviously I don't know your sons tax situation or income but it's possible he may qualify for the earned income credit (EIC) that was introduced some time ago to help those with minimal income. It's a refundable credit so you can have a return greater than what you paid in taxes. The EIC was established to help those people who are trying to help themselves by working at a legitimate job even if they don't make a lot of money. Some people who have also been laid off in the calendar year qualify for EIC as their income level has dropped. If he needs assistance in filing his taxes and determining his legitimate deductions and credits he can go to an AARP Tax Site and have his taxes prepared for free. If he's already prepared his return he may ask at the AARP site if they would review his return. If he's made errors the return can be amended. As far as the drug dealers, the only way they would receive a tax return of $5,000.00 plus is if they filed and were eligible for refundable credits. It's possible if they had a spouse working or they had a job for part of the year that would qualify them for EIC. Technically your're supposed to report all income, legal or otherwise, on your return including revenue from the sale of illegal drugs. Al Capone wasn't arrested for being a gangster - he was arrested for income tax evasion and not reporting income. Here are refundable credits that can lead to a substantial return: Earned income credit Adoption credit First time homebuyer credit (for past years) Additional child tax credit Health coverage tax credit American opportunity credit An earlier post referenced a woman with an $8,000.00 refund and it would be my guess that she qualified for EIC. Even if you file a correct W-4 you still have the potential to receive a tax return far in excess of what you've paid, if any, into the system. The tax system is too complex and I agree that a flat tax is the way to go but I doubt we'll see it in our lifetime. Link to comment Share on other sites More sharing options...
Z71_Denali Posted March 1, 2012 Share Posted March 1, 2012 Obviously I don't know your sons tax situation or income but it's possible he may qualify for the earned income credit (EIC) that was introduced some time ago to help those with minimal income. It's a refundable credit so you can have a return greater than what you paid in taxes. The EIC was established to help those people who are trying to help themselves by working at a legitimate job even if they don't make a lot of money. Some people who have also been laid off in the calendar year qualify for EIC as their income level has dropped. If he needs assistance in filing his taxes and determining his legitimate deductions and credits he can go to an AARP Tax Site and have his taxes prepared for free. If he's already prepared his return he may ask at the AARP site if they would review his return. If he's made errors the return can be amended. As far as the drug dealers, the only way they would receive a tax return of $5,000.00 plus is if they filed and were eligible for refundable credits. It's possible if they had a spouse working or they had a job for part of the year that would qualify them for EIC. Technically your're supposed to report all income, legal or otherwise, on your return including revenue from the sale of illegal drugs. Al Capone wasn't arrested for being a gangster - he was arrested for income tax evasion and not reporting income. Here are refundable credits that can lead to a substantial return: Earned income credit Adoption credit First time homebuyer credit (for past years) Additional child tax credit Health coverage tax credit American opportunity credit An earlier post referenced a woman with an $8,000.00 refund and it would be my guess that she qualified for EIC. Even if you file a correct W-4 you still have the potential to receive a tax return far in excess of what you've paid, if any, into the system. The tax system is too complex and I agree that a flat tax is the way to go but I doubt we'll see it in our lifetime. boy i wish the first time homebuyer tax credit was still around... that'll come in handy next year for me! Link to comment Share on other sites More sharing options...
dipolley Posted March 2, 2012 Share Posted March 2, 2012 I am all for a national sales tax provided that is accompanies either zero income tax or a flat tax rate (zero tax preferibly). Like it was said earlier, it will ensure that anyone who isn't paying taxes (illegals, drug dealer, etc.) actually pay something into the system. Unfortunatly this could result in increased unemployemnt when the IRS has to let 1000s of people go and H and R Block goes under because the tax code is so simple now. On another note (this may sound calous and mean and a bit of a rant that may get me in trouble so I preface this with please don't take offense), why as married person with no kids, am I paying higher taxes? I understand that those with kids have increased expenses because they have children and therefore the kids are considered a deduction. But on the other side of that coin, more of my taxes are going towards paying for services for other people's children. It would seem logical that the opposite would be better. For instance. I don't have kids so I am not adding increased expenses to the local school system, but my taxes are going up to build more schools and pay the salary of teachers for everyone else's kids. It would seem logical that if you have kids you should be paying more in taxes to cover these expenses. Am I completely off base here? Link to comment Share on other sites More sharing options...
GlossAngeles Posted March 3, 2012 Share Posted March 3, 2012 On another note (this may sound calous and mean and a bit of a rant that may get me in trouble so I preface this with please don't take offense), why as married person with no kids, am I paying higher taxes? I understand that those with kids have increased expenses because they have children and therefore the kids are considered a deduction. But on the other side of that coin, more of my taxes are going towards paying for services for other people's children. It would seem logical that the opposite would be better. For instance. I don't have kids so I am not adding increased expenses to the local school system, but my taxes are going up to build more schools and pay the salary of teachers for everyone else's kids. It would seem logical that if you have kids you should be paying more in taxes to cover these expenses. Am I completely off base here? Maybe it is because they believe that if you have kids you need the extra money to support those kids? That's why you can get child tax credit, education credit, things like that. For me it's not the fact that they are taking taxes out of my pay that irritates me, because I know is suppossed to go to schools and roads and things like that. However, what does irritate me is the fact that you really don't know where the money goes. I pay money into taxes and I drive home on terrible roads and see the schools falling apart. So I don't see my money being put to good use first hand. I think what should be done, ideally, is to have some sort of website where they show what money was brought into the government by taxes and how that budget is being spent. Would that not make you feel a little better? To see what your money is doing? I think a system like that would give peace of mind to many people:patriot: Link to comment Share on other sites More sharing options...
Guest Gone & Forgotten Posted March 4, 2012 Share Posted March 4, 2012 Those kids that you don't have, but other do, in theory, will become tax paying adults that will support the system and (if still around then) will support you by paying into the Social Security system that is rapidly burying itself into the ground. That's the idea. One person pays taxes, say - average $2000. They have 3 kids and start getting $5000 a year - those kids grow up and each of them pay taxes, that's $2000 x 3 adults - what we have to do is break the cycle of lower income people raising kids that stay in the system as adults - I tried to do that. Not that we were ever in the system, but I do remember standing on-line for a block of cheese when I was about 9. My mom worked 6-7 days a week while dad partied his pay away. K- i'm bored. Link to comment Share on other sites More sharing options...
dipolley Posted March 5, 2012 Share Posted March 5, 2012 I tried to do that. Not that we were ever in the system, but I do remember standing on-line for a block of cheese when I was about 9. Don't knock that cheese. Veveta has got nothing on that cheese. It was the best. Link to comment Share on other sites More sharing options...
fdresq4 Posted March 5, 2012 Share Posted March 5, 2012 To be honest I could care less if someone has more money than me, a bigger house, can get their kid a high-end sports car, or get better tax breaks. Good for them. I think the Politicians use taxes to buy votes and make people dependent on them. Nobody should ever be ashamed or punished for being successful or rich. Whether you work a ton of hours or born with a silver spoon in your mouth makes no difference to me. If they want to keep it then so be it. If they are doing something illegal then they'll be caught. Did ya ever wonder why politicians leave officer richer than when the first come in or why the mayor of NYC spent $100 million to get the mayor's position? Link to comment Share on other sites More sharing options...
Guest Gone & Forgotten Posted January 15, 2013 Share Posted January 15, 2013 This thread seems relevant again. Link to comment Share on other sites More sharing options...
MAYBEN Posted January 16, 2013 Share Posted January 16, 2013 what a bump, almost a full year.. Link to comment Share on other sites More sharing options...
Schwag one Posted January 16, 2013 Share Posted January 16, 2013 Great thread! Link to comment Share on other sites More sharing options...
Guest Gone & Forgotten Posted January 16, 2013 Share Posted January 16, 2013 About taxes. It's that time of year again. Link to comment Share on other sites More sharing options...
MAYBEN Posted January 16, 2013 Share Posted January 16, 2013 I know thats why you bumped it.. I'm hoping to get a good amount back as I claim 0 on my W4.. after reading this thread, its influencing me to look further into it and have less taken out throughout the year so that its a minimal amount at tax time.. It is nice getting the income tax refund and using it towards different projects and whatnot, but maybe getting more in each check throughout the year may be the better way.. Link to comment Share on other sites More sharing options...
Guest Gone & Forgotten Posted January 16, 2013 Share Posted January 16, 2013 I went from a 1099-misc hourly employee to owning my own business (in June). I make in a day what I used to make in 3-4 days. So, I'm sweating taxes. Not to mention I have 1099's of my own to hand out this year, among other business-like deductions. Nervous. Link to comment Share on other sites More sharing options...
Green Machine Posted January 16, 2013 Share Posted January 16, 2013 I know this is an older post but this guy needs to run for President!!!!! Link to comment Share on other sites More sharing options...
Z71_Denali Posted January 16, 2013 Share Posted January 16, 2013 I know thats why you bumped it.. I'm hoping to get a good amount back as I claim 0 on my W4.. after reading this thread, its influencing me to look further into it and have less taken out throughout the year so that its a minimal amount at tax time.. It is nice getting the income tax refund and using it towards different projects and whatnot, but maybe getting more in each check throughout the year may be the better way.. a tax refund is just an interest free loan you give to the government. Link to comment Share on other sites More sharing options...
Schwag one Posted January 16, 2013 Share Posted January 16, 2013 Tax return what is that?! Link to comment Share on other sites More sharing options...
Team Adam's Posted January 16, 2013 Share Posted January 16, 2013 Ugh... dreading taxes this year... last year I watched about 28% of our household income got to combined state/fed taxes. The move to CO should help some, but 75% of 2012 was still in CA and that is definitely going to sting. Link to comment Share on other sites More sharing options...
ArablueRS3 Posted January 21, 2013 Share Posted January 21, 2013 This is my take on it. I'm not a "high roller" just another tax paying person married and no kids. With that being said I do not agree with rewarding bad behavior. Giving free money to a person or family just because they have kids makes no sense. If that family or person paid in let's say 5k but is given 6k what did they pay in? Or giving a company free tax payer money to off set their costs for sending jobs overseas. The lists go on and on. The system is completely broken and will never be fixed. Too many mil/billionaires have gamed the system to fix it. Link to comment Share on other sites More sharing options...
CMDChase Posted February 28, 2013 Share Posted February 28, 2013 What's interesting is that, even though presidents, senators and representatives get poor marks and approval ratings in the single digits, we keep reelecting them!! As bad as they are, singly and collectively, we have them be cause we elected them!! Link to comment Share on other sites More sharing options...
CMDChase Posted February 28, 2013 Share Posted February 28, 2013 One more thing, about refunds. Almost everyone can tell you, just about to the penny, how much of a refund they got. But what most people CAN'T tell you is how much taxes they paid. Link to comment Share on other sites More sharing options...
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