Tax Day and our Plutocratic Oligarchy

So every tax day I find this thought crossing my mind: How is it that anyone can deny the plutocratic-oligarchical nature of our government when on a yearly basis we give the government a zero interest loan, which comes back to us in the form of tax returns and yet our college graduates take out student loans and are expected to pay not only interest but fees associated with it. We (they) spend our tax dollars bailing out banks and businesses that are "too big to fail" but when was the last time you heard about a home owner losing their small business and the government stepping in and using tax money to not only float their business but give them a subsidy to keep their home?

If you say probably never, you're right and if you can cite an example, try to cite another. I understand the need for banks and such to exist, but if you can't hack it, sell some or all of your accounts to another bank or banks that can and use that money to either exit the scene without debt or opt for an employee buy out or something to keep your company going. The digit number in your profits or your board's salaries should not afford special privileges the average citizen does not get. Yet it does. Now, tell me again how plutocracy and oligarchy are words that do not apply to our current economic/political scheme.

a reply to: Jekka

I have no Idea what a pluto arctic...thingy is but I do know the basics.

Loans incur interest-and as long as the loan exists the interest will remain, and if nations are forced to keep borrowing then that means...

A true rant.

Not sure what to take from it but the person is pissed off.

a reply to: Jekka

No argument here.

My question is why do we accept income tax on earned income at all? Especially at the federal level? Let them tax unearned income, but the fruits of our labor is ours alone.

Adding insult to injury is that it is effectively double taxation, as we -- the consumers -- also pay corporate income taxes via our purchases... and yet, some of the largest corporations not only pay no income tax, they actually receive credits and refunds on our dime!

I don't think income tax is about revenue any more (if it ever was)... but it sure keeps a boot on our necks... and all of us fighting over who should pay more and who should pay less with no end in sight, while the entitled few laugh all the way to the bank.

a reply to: Jekka

Tax is theft with the threat of state violence for non-compliance.

Subsidy is rewarding failure with the spoils of the former.

The institution of preemptive withholding was implemented because it was recognized that the poorest people would not be able to pay it unless it was forcibly taken from their employers directly.

Even the poorest who actually qualify to not pay have to claim "exempt" or else they become zero interest lenders to the federal government, an even better deal than the fed.

People get tax returns for several different reasons. The biggest being that they overpay every paycheck and basically use the government as a savings account. I could only imagine the disaster if people had to pay their total tax bill every April. Another reason is tax deductions that do not show up on your paycheck, an example is medical expenses.
Anybody that gets a "earned income tax credit" will get a bigger tax return also. In that case they never actually paid that money. Below is a link explaining who qualifies for an e.i.t.c.

www.irs.gov...&-Deductions/Individuals/Earned-Income-Tax-Credit/EITC,-Earned-Income-Tax-Credit,-Questions-and-Answers


And as for your plutocratic-oligarchical theory. Well yeah. Every governmental system is ran by a small percentage of influential people. Socialism, communism, capitalism, and every dictatorship.

If election day were April 16th and people had to pay their taxes in a lump sum instead of through employer withholdings, our tax system would change overnight.

Of course, the problem is you have half the people not contributing and their politicians using the tax code to rob the success so they can buy the votes of their constituents. Sure, we will give you this and that program. We just tax the "rich"! Naturally, these gruber voters don't realize how they define rich.

It is like how Obama always talks about Millionaires and Billionaires paying their fair share, but then his boot lickers develop policies for people making $250k.

a reply to: Jekka

Hope this is not to far off topic, but I was slapped in the face with the MASSIVE fraud that goes along with 'tax season'.

I filed through H&R as I have for the last 12 years, and received a call last night asking why we already filed.

Turns out someone else already filed MY taxes this year.

It also was brought to my attention how massive this problem is.

So I am forced to have the pleasure of working with the massive bureaucracy known as the IRS, that really could care less about my little peasant problems.

Spent all morning on hold waiting to be passed off to another office that inevitably cant help me, and was also informed that I am apparently indebted to these fine employees of the IRS as opposed to my silly thought that they worked for ME and that their salary came from us peasants.

I also spent several hours informing all 3 credit ranking companies that there may be additional fraud committed in my name.

I cant wait for it all to crash and burn, it is the only solution for this abomination that has evolved called the federal government.

a reply to: Edumakated


Gotta love politicians having fundraising dinners for $35k a plate while promising to look out for the little guy.