Originally posted by Lung Shooter
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Tax return question - Is it fair?
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Originally posted by iamntxhunter View PostWell 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.
Originally posted by Catarina View PostOn a side note, does anybody have a link for a 1099-misc form that I can fill in? Or can somebody email me a copy of the form that is scannable? I'm needing one but didnt realize you had to order them from the IRS online. Any help is appreciated.....
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Originally posted by Philip-TX View PostThe 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.Last edited by El Coyote; 01-29-2013, 08:14 PM.
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Not much "fair" about our tax system. It's not fair that the richest 27% pay 67% of all the taxes. And I suppose on the other hand it is not fair that all those poor people don't have as much money has all those rich people.
It bugs me when the question of fairness comes up. I think we should be more concerned about living in a free society with equal opportunity than to make sure everything is fair. Fairness is way to easy to distort to fit an agenda.
That being said it doesn't really bother me that money I pay in and some people get more back than they pay in. It bothers me a whole lot more that the government wastes so much money.
In the end money is a temporary thing anyway, you can't take it with you.
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I wish I had not opened this thread. Last year I despite withholdings on my paycheck, I had to write an additional check for over $9K to the federal thieves. Just made my first pass at 2012 return and it looks like I'm writing another check for just under $1K this year. Now I lost my job in Jan and made far less money in 2012 so I'm stumped as to how this happened to me again.
My only hope is that I think I missed (or turbotax missed) some deductions last year like the expense of a home office and state sales tax that could reduce what I paid in 2011 if I amend that return. Maybe then I won't owe for this year.
Yes, I too have some family that vote for a living and I can't stand it. Not fair to those of us working our tails off
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For the past several years, I was able to get back all of my tax money that I paid throughout the year and I also received additional credits for education expenses (tuition, books, supplies) so I actually got back more than I paid in throughout the year. This year, I was not in college for any of the year and I do not have any other credits. I got back half of what I paid in which is better than some.
As an endorsement of the OP, I had a co-worker who was "married" to an illegal Mexican and had a child. He worked for cash and paid no taxes. She claimed single on her income taxes and was on Medicaid and food stamps but drove a brand new Equinox (30,000) and had an iPhone and two iPads. She was always talking about going to this bar and that club and getting wasted. I helped her file her taxes for 2011 and she got back over $5000 but only paid in about 1200 throughout the year. It happens and the people that play the system know all of the loopholes for keeping their Medicaid, welfare, food stamps, etc. She is now having another kid by a different baby-daddy and will probably get even more back this year because the kid was born in December.
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Originally posted by Hammerdown15 View PostFor the past several years, I was able to get back all of my tax money that I paid throughout the year and I also received additional credits for education expenses (tuition, books, supplies) so I actually got back more than I paid in throughout the year. This year, I was not in college for any of the year and I do not have any other credits. I got back half of what I paid in which is better than some.
As an endorsement of the OP, I had a co-worker who was "married" to an illegal Mexican and had a child. He worked for cash and paid no taxes. She claimed single on her income taxes and was on Medicaid and food stamps but drove a brand new Equinox (30,000) and had an iPhone and two iPads. She was always talking about going to this bar and that club and getting wasted. I helped her file her taxes for 2011 and she got back over $5000 but only paid in about 1200 throughout the year. It happens and the people that play the system know all of the loopholes for keeping their Medicaid, welfare, food stamps, etc. She is now having another kid by a different baby-daddy and will probably get even more back this year because the kid was born in December.
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Originally posted by art745 View PostHe is still making a million what's the difference? His million on interest should be the same as my million. I paid taxes before also.
The other guy pays 35% on what he earns, then he invests what's left and makes $1M from interest and pays an additional 15% on that.
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Originally posted by Shane View PostI wouldn't help her commit fraud by claiming to be single when she's married and/or by failing to report her husband's income.
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Originally posted by denowt View PostI agree with you. The only problem is, someone else will do it for her. Same as one poster who stated he hires contractors that aren't legal citizens. The only way to stop it is if EVERYONE stopped hiring/helping the illegals. I don't think that will ever happen though.
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Originally posted by Shane View PostMoral relativism is a crock. It's either ethical or it isn't.
As for the rest of the thread, the usual lefty folks are out in full force. They will never be convinced that capitalism is a good thing and personal responsibility for all should be a cornerstone of our once great nation. No need to spend time and effort to proving them wrong and exposing the fallacies in their thought processes/beliefs. They will continue to sing from the same socialist song book. It's easy to expose their ignorance but doesn't really accomplish anything. While they would love to believe that they are open-minded.....they are not. They can only see things one way.
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Originally posted by denowt View PostUsing your example, you pay 35% on what you earn.
The other guy pays 35% on what he earns, then he invests what's left and makes $1M from interest and pays an additional 15% on that.
He makes a million on interest capital gains whatever... I'm only talking about the million in income he made. He is only taxed on the million at 15%
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Originally posted by Shane View PostI wouldn't help her commit fraud by claiming to be single when she's married and/or by failing to report her husband's income.
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