Tax return question - Is it fair?

[FireMedic26]

As far as I'm concerned, there's nothing fair about taxes. My wife & I recently built a new house & my taxes went from $1200 a yr to almost $6000 a yr. I knew it was coming, but I still don't really understand it. The gov't didn't pitch in any money to help us build our house. Pee-culiar

[Keg]

yes it is, the real question is it more than he got back?????

Is that a fair question? It depends on your definition of fair......

[El Coyote]

Question for all the tax gurus:
If I make a million dollars from my blood sweat and tears and get taxed at 35%.

Person 2 makes a million from interest and dividends and only gets taxed at 15%.

Is that fair since we both made the same amount?

[PondPopper]

Dude, the question NEVER SAID WAS IT LEGAL. It said was it fair.

Obviously, you have some twisted belief that everything legal is fair.

You know the old lawyer saying "Everything is legal until you get caught".
My problem with all this is that alot of what folks are doing is not legal.They just haven't been caught yet and probably never will be. How is it legal for someone ILLEGAL to be getting money from the US taxpayers? It's not. Some one is allowing it to happen. That does not mean it's legal. Big difference.
They are screwing the system and no one is holding them accountable.
It's a free for all for those willing to abuse it.
Plain and simple.

And yes I have a right to be ****** about it.
To much cofusion and political correctness in this thread what's right is right and what's wrong is wrong. Period.

[stickemhard3]

If so he should get about $200,000 back.

Answer the questions honestly and you too will receive a "fair" amount. Dont worry about ethics, just let the govt define that for you

[M-2]

You are correct, it was a misquote from one of Jeffersons quotes. I apologize for irking you in my statement and find it obvious that many of our views on this topic don't sit well with you. So, I guess the real question is, are you unhappy with your tax return?

Well, to be clear, Jefferson never said anything remotely like that (it wasn't just a misquote of one of his quotes).
"Irk"? Hey, it's OK! It's one of my personal pet peeves to see FFFQ's (Fake Founding Father Quotes). I just see them a LOT here, so after time, yes, "irk" occurs.

BTW, you quoted ME out of context, when you included this piece in your reply:
Originally Posted by M-2
M-2: Absolutely. No fraud at all.
I was talking to denowt, a single father who claims his EIC credit. He is not committing any sort of fraud.

Actually, I *am* a little irked (word of the day?) with our tax refund this year. We try to calculate it so that we come as close to zero refunded/owed as possible. Due to some unusual financial circumstances this year (all good!), we underestimated our extra taken out...so we'll get way more back than we had expected (no EICs taken, our kid is grown). We'd rather have use of that money throughout the year, rather than get a large lump sum. We don't need a "forced savings" mechanism.

[iamntxhunter]

If you saw someone drop $100 that was unaware, keeping the money wouldn't be right, but it wouldn't be illegal either.

Well if you knew who it belonged to I thinks stealing, so I go with illegal.

Money just laying on the ground in a parking lot/sidewalk there is no way to identify who it belonged to, I wouldn't look upon it as stealing.

[Keg]

I know a fella who would turn down OT..just so he fell into a different tax bracket....The Gov. would pay most of the cost of his 2 kids births(hospital bills)....
If he worked..he paid for it.... If he stayed home..we paid for it....
He would brag about it....

[EastTexasMan]

"If I paid you to think, you could cash your paycheck at the penny arcade" - George Jefferson


Well, at least its close to Thomas Jefferson

[M-2]

"if i paid you to think, you could cash your paycheck at the penny arcade" - george jefferson

:d

lol!

[EastTexasMan]

Again, because I find it perfect for this.

[iamntxhunter]

Question for all the tax gurus:
If I make a million dollars from my blood sweat and tears and get taxed at 35%.

Person 2 makes a million from interest and dividends and only gets taxed at 15%.

Is that fair since we both made the same amount?

Nope you should be paying 15% just the same as the investor.

When the govt is so bloated and wasteful that they need 35% of anyones income, that becones confiscatory taxation.

[Philip-TX]

Question for all the tax gurus:
If I make a million dollars from my blood sweat and tears and get taxed at 35%.

Person 2 makes a million from interest and dividends and only gets taxed at 15%.

Is that fair since we both made the same amount?

The investor already/also paid 35% INCOME tax on his money when he made it, then he invested it and pays 15% on his capital gains.

[Darton]

Well, to be clear, Jefferson never said anything remotely like that (it wasn't just a misquote of one of his quotes).
"Irk"? Hey, it's OK! It's one of my personal pet peeves to see FFFQ's (Fake Founding Father Quotes). I just see them a LOT here, so after time, yes, "irk" occurs.

BTW, you quoted ME out of context, when you included this piece in your reply:
Originally Posted by M-2
M-2: Absolutely. No fraud at all.
I was talking to denowt, a single father who claims his EIC credit. He is not committing any sort of fraud.

Actually, I *am* a little irked (word of the day?) with our tax refund this year. We try to calculate it so that we come as close to zero refunded/owed as possible. Due to some unusual financial circumstances this year (all good!), we underestimated our extra taken out...so we'll get way more back than we had expected (no EICs taken, our kid is grown). We'd rather have use of that money throughout the year, rather than get a large lump sum. We don't need a "forced savings" mechanism.

The quote I was referring to was, "The natural progress of things is for liberty to yield, and government to gain ground."

I am sorry to hear that you are irked about receiving more than expected back on your taxes. If you and your husband feel that you don't want/need the money we have a few on this thread that will be happy to take it off your hands

Can we please call a truce on the quote war

[roguecraft101]

Can we please call a quote war