Tax return question - Is it fair?

[stickemhard3]

Ot one time did I ask anything about fairness. I did however point out that fair is subjective. And if my lower level of income earns me a benefit, then so be it. Like I said before, I didn't write the laws or set up the income tables.

Maybe saying I pay my taxes could be misleading, but I have the proper amount with held from my pay. And more times than not even with EIC, I have had to PAY taxes at the end of the year. Just because you get EIC does not ensure a windfall of cash.

As far as your piece of the pie, maybe you should ask the people you voted into office about that. I have no control over it either way.

I know you didnt, i was just bringing light to the fair/unfair argument from earlier.

You may have just struck gold my friend.

Not just me, more like WE (as in the public). Part of the vicious beast that has grown and is now completely out of control.

[Sylvo55]

Boy this makes mt blood boil :-(

[bigbad243]

Are we really dogging a family for following the rules and accepting money the Government is giving them after they have paid what it is deemed they owe, or is our angst more correctly pointed at those that break the laws knowingly to exploit a loophole ? (such as those pointed out in the video)

Loopholes are one thing to limit your tax liability, but to at the end of they year pay a negative tax rate is another. If I read between the lines on on the over 300 post, it looks like most are ok with tax breaks, but now negative tax except for those that are receiving the extra money...

[Shane]

Are we really dogging a family for following the rules and accepting money the Government is giving them after they have paid what it is deemed they owe, or is our angst more correctly pointed at those that break the laws knowingly to exploit a loophole ? (such as those pointed out in the video)

I'm not dogging the people that take the money. I'm dogging the government for giving it out. It's a back door welfare program that the government doesn't count as welfare spending. If somebody doesn't owe income tax, that's great. But I think it's wrong for the government to pay out tax credits to people after they have zeroed out on their income tax due. You should get a refund up to the point where you zero out, but they shouldn't be paying out "refund" money to people that didn't have to pay income tax in the first place. I'm not mad at the people that are cashing the checks. I'm mad at the idiots that are sending them out.

[twobanger]

What if people on TBH intend to use this credit and buy a bow with it? And do you honestly think that if someone told you to check this box and double your return, you wouldn't do it?

The EIC is not a new thing. It has been around for a very long time. And people of all colors, race, ethnicity, religion and financial standing have been using and abusing it for years and years.

If you are not getting it maybe you need a better tax person.

And if getting a large tax return is such a bad thing, why is no one complaining about the television commercials where they vow to get you the largest return possible?

You can't get it at 80K/year. People that get EIC are simply taking money from someone else that worked harder or smarter than they did. That's how government works now...vote for me and I'll give you free stuff you didn't earn.

[Boomerang]

You should be able to vote for every dollar paid in taxes. If you draw off the government, that amount is a proxy for taxpayers. That will fix things real fast. Taxpayers vote on Congressional salaries and benefits also.

[TimH]

i have five nephews and nieces that don't live in this country. What happens if i decide to claim all of them on my return this year?

[buckarooboy]

And he says it is getting better.

[unclefish]

Again does it matter how I made my money.... I want everything to be fair some people don't.... Don't hate people for thinking for themselves

Do we need to explain the way the free market pace works....the risks of investing (capital gains) to you? You realize that when you tax an activity heavily....that activity shrinks drastically even dries up totally. Why would you want to shrink investing?

You stated earlier that you were not in favor of capital gains...what the heck does that mean? How can you not be in favor of capital gains?

[El Coyote]

Do we need to explain the way the free market pace works....the risks of investing (capital gains) to you? You realize that when you tax an activity heavily....that activity shrinks drastically even dries up totally. Why would you want to shrink investing?

You stated earlier that you were not in favor of capital gains...what the heck does that mean? How can you not be in favor of capital gains?

Well since your late to party ill explain it this way.
I make a million dollars and taxed at 35%
Someone else makes a million dollars and is taxed at 15%

Is that fair?
So no you don't need to explain how the free market place works

Only one person had the cojones to say they should be taxed at the same rate

[westguy76]

I'm not dogging the people that take the money. I'm dogging the government for giving it out. It's a back door welfare program that the government doesn't count as welfare spending. If somebody doesn't owe income tax, that's great. But I think it's wrong for the government to pay out tax credits to people after they have zeroed out on their income tax due. You should get a refund up to the point where you zero out, but they shouldn't be paying out "refund" money to people that didn't have to pay income tax in the first place. I'm not mad at the people that are cashing the checks. I'm mad at the idiots that are sending them out.

I agree then but it started to sound like a personal attack on one member. I live it and understand the sentiment. I pay tons for healthcare insurances and services every year, especially the last couple. It's hard to come to terms with people of low or no income walking in off the street and getting the same services on mine and your dime for free or next to nothing.

[iamntxhunter]

Well since your late to party ill explain it this way.
I make a million dollars and taxed at 35%
Someone else makes a million dollars and is taxed at 15%

Is that fair?
So no you don't need to explain how the free market place works

Only one person had the cojones to say they should be taxed at the same rate

Well you did state the truth but in a misleading way Art.

I said they should both be taxed at 15% not at the 35% rate. By that I mean a flat15% tax is more than enough for the govt to operate.

However it isnt enough to bribe and cheat their agenda into laws all the while funding agendas that are detrimental to the freedoms of all Americans. Obama care would be a prime example of that.

[unclefish]

Well since your late to party ill explain it this way.
I make a million dollars and taxed at 35%
Someone else makes a million dollars and is taxed at 15%

Is that fair?
So no you don't need to explain how the free market place works

Only one person had the cojones to say they should be taxed at the same rate

Not late to the party at all....been following your way of thinking for several pages.

Good grief....there is a huge difference in how those millions are made. So you want to dry up investing all together?

Yes it is incredibly fair......for the risk involved.

[Landrover]

LOL......been discussed at nauseaum for YEAR's!!! I guess folks start to pay attention when the economic belt is tighter!

[ladrones]

LOL......been discussed at nauseaum for YEAR's!!! I guess folks start to pay attention when the economic belt is tighter!

Some act as if this stuff just started 4 years ago.