How Much Did You Pay In Federal Taxes?

a reply to: introvert

Foreign Aid :$1.14
Food Stamps :$1.89

Looks like either we spend too much on foreign aid or are not spending very much on food stamps.

Nice refund...

It's a distinct advantage to have a couple of LLCs/incorporation and a creative accountant. I even get a state subsudie because I train
women, minorities and youth in a valuable skill.

The Orange one isn't the only businessman that knows how the system works.

a reply to: introvert

We (our country) could eliminate poverty and save billions of dollars per year on health care costs and hundreds of other expenses if we had universal basic income, but then the medical industry, prisons and other Industrial Complexes wouldn't have their cash cows, so it would never happen.

I agree with you, not enough is done but that is completely by design.

a reply to: FamCore

Basic income will become a much "hotter" issue in the coming years. I fear we are in for a horrible ride.

originally posted by: seasonal
a reply to: lordcomac

Are you suggesting she is doing it right or you are doing it wrong?

Neither, I'm saying (not suggesting) that it's broken.

It shouldn't be possible for them to live for free, and I shouldn't have to work twice as hard to give up half of my worth every year.
2015 I didn't even do anything outside of work. At least in 2016 I got to work on the house, so now I'm almost ready to sell it and escape the city. Maybe get my tax rate down a few percent points by living in the sticks.

All broken. Shut it down.

originally posted by: FamCore
a reply to: introvert

We (our country) could eliminate poverty and save billions of dollars per year on health care costs and hundreds of other expenses if we had universal basic income, but then the medical industry, prisons and other Industrial Complexes wouldn't have their cash cows, so it would never happen.

I agree with you, not enough is done but that is completely by design.

The money has to come from somewhere. You can't just print free money and give it to everyone- that's how you destroy a currency and make it worthless. Unless the corporations hoarding worth start spending it, there's no fixing this.

Buy local and delay the collapse if you don't want to deal with it... but basic income goes against how money works.

Can't print it, and can't just raise my taxes more to pay for it, since taking another 20k from me to turn around and give me 10k back doesn't help anything.

a reply to: lordcomac

Good luck.

You maybe built differently than your neighbor. Some of us are not happy until we are busy doing this or that. Some people go through life with out a care. Sometimes I envy the aimless drifters, but I enjoy being a little more than a medium (if I could rate it like that) busy.

originally posted by: introvert
The government is bloated and they do spend too much money on wasteful nonsense, but I do not have a problem paying taxes to in order for people not to go hungry, the elderly have a basic level of income, education, housing, etc.

I'd rather pay taxes than see people starve or live on the streets.

I'll go one step further and say in many areas, we don't do enough.

The fallacy in your thinking is that if the federal government doesn't do it, it won't get done. No one would starve. People are generous. The problem is government is inefficient in distributing resources. It is much easier and more efficient for individuals and locales to provide needed services than for the federal government. I can walk down to my local soup kitchen and give them $1000 or the government can take that $1000 from me and then provide the soup kitchen a $100 grant after they've pissed away $900 of my money in administrative costs.

What chaps my ass is that when you win a nice tourny at the Casino, they take the tax immediately but you can't write it off when you lose.

But you can write off your loss in the stock mkt.

originally posted by: seasonal
a reply to: introvert

Foreign Aid :$1.14
Food Stamps :$1.89

Looks like either we spend too much on foreign aid or are not spending very much on food stamps.

Indeed.

We could cut foreign aid and spend more at home.

originally posted by: FamCore
a reply to: introvert

We (our country) could eliminate poverty and save billions of dollars per year on health care costs and hundreds of other expenses if we had universal basic income, but then the medical industry, prisons and other Industrial Complexes wouldn't have their cash cows, so it would never happen.

I agree with you, not enough is done but that is completely by design.

You are spot on.

We'd have to destroy some aspects of our current system to rebuild it properly.

a reply to: Edumakated

The fallacy in your thinking is that if the federal government doesn't do it, it won't get done.

I never said the federal government has to be the one that necessarily "does it". But that is where the sacrifices must be made to have a stronger impact.

a reply to: Edumakated

Paid zero.. got a refund. .wife and I. Household of 2....but yes both had witholding from paychecks like everyone

originally posted by: olaru12
What chaps my ass is that when you win a nice tourny at the Casino, they take the tax immediately but you can't write it off when you lose.

But you can write off your loss in the stock mkt.

Perhaps it's different by state, but I believe you can write-off gambling losses as long as you file an itemized return.

Interesting points raised about government spending vs corporate profits. What kind of society is being created where corporations are the biggest financial entities and governments have continuous deficits?

Also I totally came here to read that some one is under audit at the moment and therefor cannot comment.

I made $30,000 and paid about $3800 in federal and state income tax. At least I paid it all this year. I still owe $500 from last year. Self employment tax was a biiitch.

originally posted by: introvert

originally posted by: olaru12
What chaps my ass is that when you win a nice tourny at the Casino, they take the tax immediately but you can't write it off when you lose.

But you can write off your loss in the stock mkt.

Perhaps it's different by state, but I believe you can write-off gambling losses as long as you file an itemized return.

Writing off gambling losses is one sure way to get targeted for a very ugly audit. No thanks!!!

originally posted by: 38181
60% of my gross salary went to state and federal taxes. I took home less this year then last year because I made more this year! Different tax bracket. Yeah I was pissed and still am, especially when I see the lazy %€+*^! Collect disability and free govt hand outs down from where I live.

Likewise my friend. I as well forked over about 2/3rds of my income.

originally posted by: Lagomorphe
Nowt...

I live in France.

Warmest

Lags

You have the VAT which is the same kind of demon from a different angle.

originally posted by: Edumakated

originally posted by: introvert
The government is bloated and they do spend too much money on wasteful nonsense, but I do not have a problem paying taxes to in order for people not to go hungry, the elderly have a basic level of income, education, housing, etc.

I'd rather pay taxes than see people starve or live on the streets.

I'll go one step further and say in many areas, we don't do enough.

The fallacy in your thinking is that if the federal government doesn't do it, it won't get done. No one would starve. People are generous. The problem is government is inefficient in distributing resources. It is much easier and more efficient for individuals and locales to provide needed services than for the federal government. I can walk down to my local soup kitchen and give them $1000 or the government can take that $1000 from me and then provide the soup kitchen a $100 grant after they've pissed away $900 of my money in administrative costs.

This is a good example of the urban/rural divide. In rural areas, people know everyone and band together to help people out when they are in need. In small communities aid goes directly where it needs to go because the problems are clear. It's normal to have little donation buckets for Jill's medical costs or granny's funeral.

In cities, everybody's a stranger so people don't band together the same way. Government has to do it because otherwise tooany people slip through the cracks and no one notices until apartment 4b has a funny smell....