Oh man, it's almost that time of the year. TAX TIME! WOOOO HOOOO! Only a week after my birthday I get the great gift of having to pay the government. Just a reminder that four months out of the year you work in slavery to the government. So I guess it's only fitting that it's only four months into the year that you have to pay them your tax due.
Then again, every day of the year you use something the government built. So perhaps four months of your time isn't that bad. Still, some may say that it's just a form of slavery. You just need to remember to mentally reduce your salary by a third when doing any planning for your money.
I guess the idea that debt is slavery comes from the fact that we are all in debt via the federal reserve. Taxation is just the debt collector. Just remember that 70% of wealth in the US is inherited so the argument that taxation is not only dumb, but actually kind of offensive. How dare they take my money! I worked ard to be a CEO's son!
I do think that the most slap in the face thing though is that TaxAct has a little thing at the bottom where it tells you where your tax dollars went. Apparently the givernment will use $2100 of my money on the military. Fuck!
I would be more for supporting a 50% tax rate if we cut the defense budget by 2/3 and put the rest into housing, food, college and all healthcare. But then again, we could maintain the current tax rate and get all those things without 2/3 of the defense budget.
I guess I should just be content that with every dollar you get back in your tax return, it's one less dollar used to kill brown people.
Most of all, why do people do their taxes so early? I always hold off until April because I'm lazy. It comes from a long line of laziness. I grew up seeing my dad ask for an extension around April 14th. Then he would wait till October to actually do them.
One thing that I never really understood was rebates. Does the IRS just deliberately overcharge, make some interest on my money and then give it back to you as a kindness? Not entirely, but because of the progressive tax scale its difficult to gauge how much you owe at a certain point in the year so they use the standard deductions and withhold a certain amount. It's all about the Government making interest on it all year. So much so that I've heard tea partiers urge people to claim zero so the feds don't make interest on their money.
The W4 you fill out that sets your estimated tax isn't very accurate and also if the IRS thinks you deliberately underpaid you can get in big trouble. And make no mistake, the IRS is serious in the business of filing against those they believe are not paying the government their share. The IRS has taken down more crooks than the FBI. If you want to destroy a political opponent you use the IRS. See, for example, FDR.
While the US was founded by tax protesters, so not liking taxes may be American as it gets, but remember that it was Taxation without representation. You can stump me by simply telling me that there's not a single person in congress that represents you. They're all owned by corporations.
Not to mention that this article in Tax Analyst showed an interesting finding:
The incomes of the top 400 American households soared to a new record high in dollars and as a share of all income in 2007, while the income tax rates they paid fell to a record low, newly disclosed tax data show.Highlights of that 2007 report include:
In 2007 the top 400 taxpayers had an average income of $344.8 million, up 31 percent from their average $263.3 million income in 2006, according to figures in a report that the IRS posted to its Web site without announcement that were discovered February 16. (For the report, see Tax Analysts Doc 2010-3372 .)
* Top 400 earners in America earn ~$345 million per year
* Effective tax rate has fallen to its lowest ever at 16.62%
* Daily income is $945,000 for top 400
* TWO-THIRDS of Americans pay more in Social Security and Medicare taxes
* Since 1992, the top 400 earners have seen their incomes increase by 399%
* Bush shut down the "top 400" report
* Three hedge fund managers made 3 billion fucking dollars in 2007
* Capital gains are taxed at just 15% but account for 66.3% of income
the main highlight?
Burn America to the fucking ground