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My employer pays my taxes based on what I claim and them trying to follow ridiculous tax laws. Sometimes they over pay, sometimes they underpay. At the end if the Government is taking too much from me why shouldn't I get it back?
I'm not complaing about it because I enjoy my refund but I don't see the purpose in it. They collect our income taxes, just to give it back? It seems like if we didn't do this, we could reduce debt pretty quickly.
So please explain why income taxes are refunded and what are your thoughts on this?
Thank you
-BMOREOBY
SN: I expect heat for using the word "give" in the title. lol
W-4: I heard a politician (it might have been McCain) once say they don't do it because it's popular. People like having the government withhold more than they have to so they can get a big check once a year. It's savings they wouldn't do themselves. I also have more withheld than has to be withheld not so much for a big refund but just in case I might have to pay, it would lessen the blow.
I'm not complaing about it because I enjoy my refund but I don't see the purpose in it. They collect our income taxes, just to give it back? It seems like if we didn't do this, we could reduce debt pretty quickly.
So please explain why income taxes are refunded and what are your thoughts on this?
Thank you
-BMOREOBY
SN: I expect heat for using the word "give" in the title. lol
Go to the store. Find a shirt. Buy it. Find out ten minutes later you overpaid. Do you get your refund or just chalk it up to the department store being able to reduce their debts and increase their margin?
My employer pays my taxes based on what I claim and them trying to follow ridiculous tax laws. Sometimes they over pay, sometimes they underpay. At the end if the Government is taking too much from me why shouldn't I get it back?
I have to pay at the end of the year every year. I set it up that way. I refuse to give the government the interest free loan of my money for a year.
They mostly do so to people that aren't very bright and pay in more in taxes all year than they actually owe. Noting like providing an interest free loan to a bunch of deadbeats (politicians). For others, April 15 is just another day of paying extortion fees to the feds.
On the other hand, if you are referring to people getting back more than they paid in, tax day is a welfare check. And I agree with the OPs sentiment, it's foolish and insulting on the part of the government to steal from some people this way and provide handouts for others. Do away with this form of welfare and use it towards the deficit.
Wow, your government really does this? Not so in Canada, and it makes me wonder why some Americans call Canada socialist.
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