Taxes........FUCK EM!!!

[tire-chucker]

It's amazing that so many people don't understand the very concept of income tax brackets. They see a 35% income tax rate and genuinely believe they pay 35% tax on all of their income. And yes our income taxes are relatively low compared to our fellow first world countries. Around here though our property tax rates are quite high. And of course our electric rates are not a tax but still very very high. So we do get fucked but not in the way a lot of people believe.

[DarkeyKong]

Originally Posted by tire-chucker

It's amazing that so many people don't understand the very concept of income tax brackets. They see a 35% income tax rate and genuinely believe they pay 35% tax on all of their income. And yes our income taxes are relatively low compared to our fellow first world countries. Around here though our property tax rates are quite high. And of course our electric rates are not a tax but still very very high. So we do get fucked but not in the way a lot of people believe.

Admittedly, I am NOT a tax expert. I just hate to see so much money not coming to me. I am of the belief that I can spend my money much better and wiser than the government can. I think we can make much better judgement s as human beings on what are "worthy" causes. But that's just a fundamental belief I hold, who knows, maybe they are doing what's best for the nation. I'm just not satisfied or content with the way the system is structured. It's like funding something you don't believe in.

[Zee Man]

I clearly understand the progressive tax system as it exists. I believe you should re exam your position about us being comparatively less tax burdened than other 1st world countries. After you add social security and all the add value taxes in the form of sales tax and road taxes and licensing fees you will discover we are at the top of the taxation list.

[Gentlemen Rendezvous]

Blessed to make the income, but I am not getting my money's worth for my taxes.

Killing Bin Laden . . . worth every penny

99.999% of all the other shit . . .no

[regreq]

I guess I'm in the minority. I don't really have any complaint about the amount of taxes I pay.

My income is all W-2 salary. I have no deductions to itemize. I don't own a business. -- So my income is probably taxed more than many. However, TX is notorious for the property taxes -- so when I moved here, I made a conscious decision to rent and avoid those onerous property taxes.

I guess my perspective as follows: when I was a child/young, I was poor. Worst thing to be in this country, especially as a kid. Nowadays, they pay me more than my younger self would have dreamed possible. (Its not a lot, but to that kid I was, it would sound like a lot). -- I've been poor, and I'm now comfortable. I'd much rather pay taxes on a bigger income than pay low/no taxes and be poor. Much of the world lives on $2/day and pays no taxes. There but for the grace of God, etc. (if I were a religious man).

There are probably a lot of countries in sub-saharan Africa and Latin America which have very low tax collections. But those countries (roads, law enforcement, pretty much everything) don't work too well. Taxes really are the price of civilization.

Just one opinion.

[Tsmokies]

Dang darkey, if you haven't paid your taxes by now....you are fucked dude.

[TexTushHog]

Originally Posted by Zee Man

I clearly understand the progressive tax system as it exists. I believe you should re exam your position about us being comparatively less tax burdened than other 1st world countries. After you add social security and all the add value taxes in the form of sales tax and road taxes and licensing fees you will discover we are at the top of the taxation list.

You are bad,y mistaken. Look at the chart that's I posted on TOTAL TAX BURDEN. OECD keeps atats in taxes on income, taxes on wealth, taxes on property, and taxes in consumption. It can show you where we are in those various lists. And yes, we are a bit high on income, and property and low on consumption and very low on wealth viz-a-viz other countries. But on TOTAL TAX BURDEN, were near the very bottom. Why do you think out safety net spending is so low compared to other nations, our roads are so poor, and our infrastructure crumbling despite being one of the richest nations in the world?

[TexTushHog]

Originally Posted by Tsmokies

Dang darkey, if you haven't paid your taxes by now....you are fucked dude.

Probably paying his first 1040-ES payment. It was due yesterday. If you have substantial investment income, Royalty or working interest income, or business income (multiples of any wage), your biggest tax hits come in your quarterly tax estimated payments. You just gut up and write a five or six figure check four times a year.

[DarkeyKong]

Originally Posted by regreq

I guess I'm in the minority. I don't really have any complaint about the amount of taxes I pay.

My income is all W-2 salary. I have no deductions to itemize. I don't own a business. -- So my income is probably taxed more than many. However, TX is notorious for the property taxes -- so when I moved here, I made a conscious decision to rent and avoid those onerous property taxes.

I guess my perspective as follows: when I was a child/young, I was poor. Worst thing to be in this country, especially as a kid. Nowadays, they pay me more than my younger self would have dreamed possible. (Its not a lot, but to that kid I was, it would sound like a lot). -- I've been poor, and I'm now comfortable. I'd much rather pay taxes on a bigger income than pay low/no taxes and be poor. Much of the world lives on $2/day and pays no taxes. There but for the grace of God, etc. (if I were a religious man).

There are probably a lot of countries in sub-saharan Africa and Latin America which have very low tax collections. But those countries (roads, law enforcement, pretty much everything) don't work too well. Taxes really are the price of civilization.

Just one opinion.

I grew up "VERY" poor. I wouldn't say I am a rich or wealthy guy by any stretch of the imagination. I do own two businesses, but only one is profitable (the other one is more of a passion for me). I do have a little in savings and investments. My main source of income is W-2 salary as well. I would probably be considered middle to upper middle class (if stars align) income wise. Maybe it's due to the fact that I grew up poor that I view the taxes as inflated without really considering my income. However, I do take the conservative approach money-wise so I feel every bit of the tax sting when I have to cut a check. Other than standard recurring bills, I don't pay this much for anything! I literally can't think of anything that I have to cut checks this large for. My pussy bill doesn't even equate. But I guess no one else shares my burdensome feelings about taxes so I may be the one being unreasonable here. I just don't like the situation though.

[Chung Tran]

Originally Posted by TexTushHog

Only Mexico, S. Korea, and Turkey have a lower total tax burden

Hmm, I'm really into Mexican and South Korean ladies.. not sure there's any relationship at all, but I'm going to research and see if I can find some Turkish tail

[TexTushHog]

Originally Posted by Chung Tran

Hmm, I'm really into Mexican and South Korean ladies.. not sure there's any relationship at all, but I'm going to research and see if I can find some Turkish tail

There may be a relationship in terms of low levels of government services dictated by low tax revenue, low opportunity for women in those societies, and the prevalence of prostitutes from that ethnic background.

[Noconozco]

Pay your taxes so the government employee gets that huge pension. I should have worked for the government.

[Tsmokies]

And that's why I'm not an AmP fan! Cause when I pay my property taxes on 1/31 and 1040 taxes on 4/15....there is a lot of traffic Tex

[darkwader]

Originally Posted by regreq

I guess I'm in the minority. I don't really have any complaint about the amount of taxes I pay.

My income is all W-2 salary. I have no deductions to itemize. I don't own a business. -- So my income is probably taxed more than many. However, TX is notorious for the property taxes -- so when I moved here, I made a conscious decision to rent and avoid those onerous property taxes.

I guess my perspective as follows: when I was a child/young, I was poor. Worst thing to be in this country, especially as a kid. Nowadays, they pay me more than my younger self would have dreamed possible. (Its not a lot, but to that kid I was, it would sound like a lot). -- I've been poor, and I'm now comfortable. I'd much rather pay taxes on a bigger income than pay low/no taxes and be poor. Much of the world lives on $2/day and pays no taxes. There but for the grace of God, etc. (if I were a religious man).

There are probably a lot of countries in sub-saharan Africa and Latin America which have very low tax collections. But those countries (roads, law enforcement, pretty much everything) don't work too well. Taxes really are the price of civilization.

Just one opinion.

those that havent travelled outside the country have no idea how good we have over here, with low taxes and high salaries for the infrastructure we have (yes, as bad as ppl feel about stagnating incomes in the US, they have it much, much worse elsewhere).