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Work ethic is fine, obviously. My point was that "work ethic" and "responsibility" has no merit in public policy. Public policy is about fairness of opportunity and efficiency of resources. It is not meant to "reward" or "punish" folks. Leave that to your own family. Keep it out of government.
lol, you obviously don't understand that the government uses the tax code to reward folks.
I hope you are not actually taking these deductions.
Not all of them! I didn't buy a car yet! and I didn't get the SS cards either! I'm under the "Don't ask ...Don't Tell program". The IRS didn't ask and I didn't tell!
If our country had any sense, we would develop a new welfare program where recipients must perform some kind of community service or volunteer work in order to get their check. I bet ppl would leave the system in droves, (screw that, I'll go work for a living) contributing more tax money and paying out less in welfare.
Unions and government employees would hate that, because they'd view it as taking away their jobs..
Whenever a politician is giving you the shaft it's because they know they can get away with it where it matters....the polls.
Single people tend to be younger and vote less and also tend to vote for the political party whose message is that higher taxes aren't a bad thing, they just help provide more needed services etc.
They sure aren't going to raise taxes or cut benefits on older people unless it's a very very far distant phase in because AARP would kick their butts.
Lastly, are you including SS in your numbers? Seems like at your income level you would have to and even then I'm not sure how you are getting to almost 11k in taxes unless you are including things like sales tax etc. as well.
Yes, I am including SS and medicare in those totals. To me, it's still taxes, and certainly not an investment for my future. There won't be any SS money when I retire.
I had about 5K taken out for federal, 2K for state, almost 3K for SS, and $600 for medicare.
You have to start thinking like a one-percenter! Since the Supreme court declared that corporations are people, I've decided to anticipate their next move and treat myself like a corporation!
Buy a new car - treat it as a business or medical expense! It's my "little rascal" available to little or no expense to you just like that stupid TV commercial! A deduction
Food - now there's a medical expense. If you don't eat you die! Just like insulin to a diabetic. A deduction
Cable TV - keeps my mental health in balance, without it, I'd get depressed and might need Cymbalta or some even pricier anti-depressant. A deduction!
Now I just have to get the dog and cat an SS card! EIC credit here I come!
Just do your taxes with a new attitude and you'll save big!
Almost.
I use my dog in my advertising.......I write off 100% of their care.
I go on vacation.....I look at equipment.
Cable....same bill as the phones and internet
Car???....I am a truck gal.....that is a little different.....that is years of depreciation.
This year I had about $11,000 in depreciation on equipment....$3,000 on buildings.
All medical is 100% a write off on the schedule "C".
When I heard about some potential legislation to place more tax burden on single people without kids recently, I flipped my lid. The US tax system is so unfairly balanced right now
I'm going to say the same thing liberals always say about the top 1%, who as a matter of fact (supported by IRS data) pay an average effective federal income tax rate that is more than 3 times higher than the effective rate the middle class pays... "You should pay a higher tax rate because you can afford it."
You have no dependents, so you can afford to pay more tax.
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Why should I be punished because I was a responsible adult and didn't engage in risky behavior or poor parenting? I have a friend on FB who has a new kid every year. He now has 7 kids. He was bragging about his big tax refund and how his family would get to enjoy a nice cruise. Does he really deserve a break and not me?
The liberals' answer to that is yes, he deserves a break and you don't because you can afford to pay more tax.
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I'm all for everyone paying their fair share. So if I have to fork over 25% then everyone should have to do the same.
I'm right there with you, and have been for a long time.
OP is probably seeing married people with kids getting $5000 refund checks. I am sorry, but I think all the child subsidies need to stop after one child, but probably never will. Anyhow, if you need us single people to support your child, then you shouldn't be having them in the first place. I love kids and all that, but I think there are way too many people out there just breeding irresponsibly and not thinking about their actions.
I mean, birth control is cheap. You can buy condoms at any drugstore or Walmart. Their is really no excuse to be having multiple babies you can't afford. I can understand one accidental pregnancy, but too many people are having three, four, and five kids they can't afford. I also see women who just have babies and not do anything to get off welfare.
That is a lie. I contributed over 20% of my gross income to my 401k and Roth IRA and I make the same as the OP. I also live in one of the highest taxed states (New York).
All of that is a lie.
If it makes you feel better to believe you are well off at that level of income so be it. Maybe you live with your parents and someone is helping you out. I do taxes for some people who are in that class, who live independently, and I know what they pay, exactly. That doesn't include of course the "other" taxes. People have different levels of expenses, and medical bills are killers that eat up what these people might be able to contribute to 401K. Now it only be over 10% of income that can be included in medical deductions.
They are not doing well. No LIE.
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