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This is on par with the liberal mindset, that we work for the government, all our hard earned money is government's, and government should decide how much money they need first, then we can have what is left over.
"The UK's tax collection agency is putting forth a proposal that all employers send employee paychecks to the government, after which the government would deduct what it deems as the appropriate tax and pay the employees by bank transfer."
UK Proposes All Paychecks Go to the State First (http://www.cnbc.com/id/39265847 - broken link)
I'd like to get rid of the government entirely--but I'm outvoted on that. Since most people are willing to pay some amount of income tax (and I haven't seen wide protests against that either), it should come out beforehand--but just enough to pay your tax burden, or maybe a bit less. I play with my withholding so that I owe a little at the end of the year, because I don't want the government taking my money at all, but why give them more than they require at the end of the year?
I'm on Direct Deposit--the company already gives me a net income directly to my bank, what you describe is nothing new.
Our liberals seem to have a fatal attraction for European ideals.
I guess you don't understand that those on Direct Deposit already experience this. The company withholds taxes from your paycheck, and the proceeds are deposited directly into your bank account.
I guess you don't understand that those on Direct Deposit already experience this. The company withholds taxes from your paycheck, and the proceeds are deposited directly into your bank account.
From the article....
Quote:
The proposal by Her Majesty's Revenue and Customs (HMRC) stresses the need for employers to provide real-time information to the government so that it can monitor all payments and make a better assessment of whether the correct tax is being paid.
Currently employers withhold tax and pay the government, providing information at the end of the year, a system know as Pay as You Earn (PAYE). There is no option for those employees to refuse withholding and individually file a tax return at the end of the year.
If the real-time information plan works, it further proposes that employers hand over employee salaries to the government first.
"The next step could be to use (real-time) information as the basis for centralizing the calculation and deduction of tax," HMRC said in a July discussion paper.
I guess you don't understand that those on Direct Deposit already experience this. The company withholds taxes from your paycheck, and the proceeds are deposited directly into your bank account.
I guess you like to make assumptions.
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