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You’re presenting an entirely different and very broad discussion topic.
AFAIK the OP doesn’t own, and has never owned a business.
It’s obvious to me he was talking about individuals versus the world. Specifically the downtrodden lower income individuals. If I wasn’t on my tablet I would scroll up and confirm the specific wording but it’s not relevant since he has no clue about businesses .
ETA, Yep. I scrolled. NOTHING about business but even complaining about property tax and the cost of home rentals.
He states “individual” several times.
AND debating the tax liability for minimum wage workers.
LOL has anyone informed anyone about the enormous percentage of tax paid by businesses who actually CARRY the country? What percentage of total taxes are paid by the top?
You don’t have to educate me on the topic. I own a micro business and it still cost me two hours per day to satisfy the IRS. And that has nothing to do with who files my return it’s simply a matter of required documentation.
If he were talking about businesses he would’ve said anyone who doesn’t have a CPA (at least in the beginning, and has a business, isn’t too bright. Especially since small business represents 80% of all business in America.
Of course he literally presented nothing in the original post not even the link to what he’s talking about .
I wasn't responding to the OP with my post. I was responding to a different poster, which was why I quoted them when I responded. THAT POST said that lawyers and tax people should all be gone with a simplified tax code. The tax code is entirely linked between individual and business taxation as I explained in a later post. See, as a topic flows through time, different people other than the OP post.
Welcome to the Internet. Enjoy your stay.
Last edited by Thatsright19; 02-13-2018 at 06:58 AM..
You're assuming they don't take a single day off for any reason the entire year. Miss a single ten hour shift and they drop below the EITC threshold and pay nothing.
Has nothing to do with stupid. A fully informed individual without discretionary income is unable to obtain the benefits of the tax code available to the informed person with discretionary income.
e.g. you can't enjoy tax benefits available to homeowners if you can't own a home.
No, you're getting the same tax benefits WITHOUT owning a home.
Let's say you purchased a modest home with a payment of $500 a month, like your rent payment. Your payment covers everything, PITI.
Even if you could deduct the whole payment, 12 x $500 is $6000, less than the standard deduction you already get.
With a maxed 401(k), the 24% bracket extends up to near $200k gross income filing single and well into the $300s with a joint return. Why would anyone in that tax bracket bother with tax avoidance strategies? That’s 97% of all tax returns. The Federal tax rates are really low for the upper middle class. In 1980, you were standing on your head to avoid the onerous tax brackets. It’s kind of pointless now unless you’re making really big money.
A federal income tax of 3.1% of your income. Why aren't you paying your fair share?
How much tax would you like a minimum wage earner to pay?
If a MW earner is a janitor, why should they have to pay for overpaid government janitors paid 5x as much? The MW janitor did not choose to overpay government janitors.
How much tax would you like a minimum wage earner to pay?
If a MW earner is a janitor, why should they have to pay for overpaid government janitors paid 5x as much? The MW janitor did not choose to overpay government janitors.
I would like a minimum wage worker to pay exactly the amount of tax he/she owes based on current US tax code. Just like everyone else.
Please stop with how you're supporting overpaid government workers. You're not. Your Federal tax "burden" of $468 isn't even covering your share (12K+ per person) of annual Federal spending much less contributing to the salaries of those overpaid janitors you keep bringing up.
And definitely stop saying the minimum wage worker did not choose to overpay government employees. Do you think Gov Co. called everyone making more than minimum wage to ask permission and just failed to call MW workers? What a laugh. Gov Co. does what it wants without input or permission from taxpayers from all income levels. MW workers are not being singled out for poorer treatment.
in every walk of life you have those who are smarter , have better information and better sources .
that does not mean there are different systems .
the tools and laws are all there for all to use . the game is played by finding the mix that has you paying your fair share as the lowest you or the people you know can get it to for you.
it is the same system , you just need smarter people in your camp
Luckily, I have a very smart person in our family who prepares tax returns, so I can basically have it done for free. And he is a completely by the rules guy, but he knows the rules really well. The very first year he did my taxes, they came out lower, and they are not particularly complicated most years. But, there were years I was sure I owed, and he got me a refund.
But those who do not have access to a really smart person 'in their camp' get kind of screwed. Maybe they cannot afford to pay someone to prepare their taxes. Our tax system is massively complex and not so easy for the average Joe to navigate. Those who can take advantage of all the loopholes and can afford really good tax attorneys of CPAs (my experience has been that a really good business/tax attorney knows a lot more than a CPA regarding tax savings if you own any businesses or companies).
In any event--it's the same old American story. The more money you have, the better a deal you get.
why would you even start a thread complaining about taxes ? you barely pay any and fly the empty seats on the standard deduction getting credit for money you never spent on deductible items .
the things you find to complain about sometimes just escape logic
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