Holy to the shit. (Taxes)

[GayBoyKellyCfan]

Erm, I didn't really know if this was a hot topic or events/politics, but yeah. I have no clue on admendments and bullshit like that, and since gay people are brillant, what other place to bring this up.

I was going over my paycheck stubs this morning, doing my checkbook, credit card records and stuff, I never really realized till this morning how much they took out.

I know, I'm single, but still. Everyone is telling me, you'll get alot back come April, but I'm on the defense about that. I think I make too much a year to get money back, I'll probably owe.

My weekly paycheck is $540.00, my deductions is $130.00 ($70.00 for Federal Tax and $22.00 for Kansas Tax plus Fica and Medicare) This is without a 401K plan nor insurance (since I'm only 19 I'm still on my moms insurance and you can't start collecting for your 401K plan till 21). I can only imagin how much my checks will be here when I turn 21.

Is this just like a State to State thing? 'Cause I know in Missouri taxes are cheaper, cigs are cheaper aswell with gas. I was wondering if it was hard for everyone or is it just an expensive state that I live in.

Responses would be appreciated greatly.

 

[bedbugy]

i checked out of the tax system way back in 1987 i'd had enough of tax the single more after all no kids why should single folk pay for other peoples offspring
schooling it's just take take take

 

[GayBoyKellyCfan]

yeah, that's kinda outrageous. do people in the UK get texes back? or is that just like a usa thing?

I make $41,600 a year which is about $3,500 a month. Taxes taken out a month is about $700 a month. Which is about $8,500 dollars a year. So I guess it's not as much as you or maybe it is, I'm not sure about the UK money system. I still net around $33,300 yearly.

It just sucks, to work so hard and have that much money taken away for lazy people with 8 kids on Food Stamps. I guess that's how fucked up our economy is.

 

[Orlandude]

Your taxes are, in part, impacted by the state you live in as well as your marital status. I'm in Florida, which has no state income tax. Yes, I get more of my paycheck but the State of Florida gets it in other ways with higher taxes on gasoline, cigarettes, clothing, sales taxes, fees of all kind, etc...so it may not be coming out of my paycheck but I am paying it in many other ways. On the Federal side and even on the State side to some extent, you are in the highest tax bracket because you are single. The government has long ago decided that single people need to be penalized more than married people, especially with kids, because single people don't have the expense of raising a family. I never agreed with that. Except for kids, we have the same expenses as anyone else (rent, mortgage payments, utility bills, food, insurance, car payments, medical bills, etc...). I know many people with kids living in a 2-bedroom apartment. How is that any different than a single person? Fine, take the deduction for the kids but why all the other deductions? Essentially, we pay a penalty for being single and the law upholds it.

I have enough taken out of my paycheck in taxes to pay what I will owe at the end of the tax year, no more, no less. People talk about how "lucky" they are getting a big tax refund. That's crazy. All you are doing is letting the government hold your money all year interest-free! Go to a bank and tell them you want to borrow money for a year and pay no interest. They will tell you to go fly a kite. I believe in paying my FAIR share of taxes but the tax system in this country is neither fair nor equitable and is in dire need of reform.

 

[pjlikesporn]

I'm pretty much resigned to paying taxes--though a fairer if not simpler system is always welcome. Also, I'm the first to support government outsourcing.

But what I try to do is to find something positive about it. I don't focus on welfare spending, which makes up only a tiny portion of the federal (or any state) budget. For some, the military can be an inspiring; for others, the police and justice departments. For me, strangely enough, it's the interstate highway system. I'm so impressed at that vast network of roads, interchanges, ramps, etc. It's really amazing--and I help pay for it!

 

[Swellegant]

A single person in certain income brackets is basically screwed when it comes to taxes. And the tax laws are so complex that I don't really believe anybody understands them, not even the nice people at H&R Block... like why if when I made $30k in one year, I got a $400 refund, but the next year I made $31k and ended up owing a couple hundred dollars. It doesn't make much sense.

But I figured a while ago that I have about 26% of my salary withheld altogether, about 10% each on Federal and FICA, the rest on SSI, State, and Medicare. I figure it's not that bad... people in higher incomes tend to pay a larger percentage.

Financially prudent people will decline to have Federal withholding on their W4s for the reason Orlandude pointed out: it's better to put your tax-money in a savings account and earn some interest on it instead of letting the IRS hold it for a year. But people like me who can't touch money without immediately spending it look forward to gettting tax refunds... it's like a hidden bank account!

I have long wondered why people pay less taxes for having children... after all, children are a drain on federal resources, what with public education and health. Just as it makes no sense for a married couple to pay less taxes. But I discovered recently that this is all left over from the days when Federal income tax was first initiated: the tax was supposed to only be on disposable income. Wives and children were considered a social necessity, and single-income families were the norm. Single people have more disposable income by that standard, so we get shafted for it.

But please, let's not believe that our taxes are going to pay for Welfare Moms. That is a myth put about largely by the right wing. Welfare and other forms of subsidized subsistence take up the tiniest wee little infinitesimal fraction of the Federal budget. Even smaller than is spent on public education, and a lot less than on pork-barrel legislation. We're paying a huge noticeable fraction on the military, including the FBI and the CIA and other Federal law-enforcement agencies (of which there are several); and under our lovely buddy-system Republican regime, even more than that on privatized military support.

That's what gets under my craw. I'd rather support a bunch of indigent baby-machines than a corrupt privatized military support system.

 

[pjlikesporn]

I'd rather support a bunch of indigent baby-machines than a corrupt privatized military support system.

Hear! Hear!

 

[herenthere]

Another reason guys, why we must be allowed to marry. Big Big differance between a single and married rate...

 

[sherman]

Don't move to Connecticut if you don't like taxes.

 

[mark1111]

Try to make it here in Taxachusettes!

 

[dpnice]

This thread has cheered me up. I just did some rapid calculations and it seems that I am actually only paying 19%, this is all taxes combined.

In France we pay our income tax monthly or twice yearly as it is not deducted from source as in other countries. Then you add on a habitation tax and a council tax. That is all; health care and pension are both included in that.

Vive La France!

 

[GayBoyKellyCfan]

Lucky motherfucker. lol

 

[GayBoyKellyCfan]

Taxes give me a migraine...........

Aww, *pets you*

I usually have my mom do them, but last year I made alot and she got lost, so i had to pay one of those hot nerds down at the H&R block to do 'em. How you ask? Blow jobs,.. just kidding. The charged $100 bucks. Pricey sons a bitches.

 

[Swellegant]

Another reason guys, why we must be allowed to marry. Big Big differance between a single and married rate...

Actually, while I agree that marriage rights should no longer be withheld from us, joint taxes aren't really a great benefit unless you have dependent children and a stay-at-home partner.

The way the Federal income tax rates are set up, the "Married Filing Jointly" rate is only a savings if one partner makes a substantially larger amount than the other, as in the case of a full-time-working dad and a part-time-working mom. Most of the TINK (two-income-no-kids) married couples I know file "Married Filing Separately" because it keeps them each in a lower bracket, around 10%, but combining their incomes puts them over the top into the "wealthy" brackets, which can go as high as 30%.

Or at least that's how I understand it. I am by no means an expert.