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There would be no fruits if not for the guy who employed the workers....
Yes, because only capitalists come up with ideas and processes.......no, only capitalists are able to CONTROL the means to create and put in to motion ideas and processes. However, most things that have been invented were not invented by a capitalist, they were invented by joe schmoe employee (many times for a government entity), or some dude in their garage.
You all need to differentiate between tax liability and tax withholdings. Most people have taxes withheld during the year. That does not mean they will have a tax liability at year-end.
To the poster who had $5k in withholdings and got it all back: You do not pay any federal income taxes. Your tax liability is zero. Also, why are you letting the government use your money free for a year; adjust your withholdings.
There has been research done on why people have more tax withheld than they have to. They simply like the big refund check. It's like using the government to save money for them, that they can't touch, so they can buy a big ticket item in the Spring.
Apparently, they don't trust themselves not to touch the money if they tried to put it in savings.
I'm sure others are afraid of the IRS and would rather be safe than sorry (stuck with a tax bill) knowing they'll get it back anyway.
There has been research done on why people have more tax withheld than they have to. They simply like the big refund check. It's like using the government to save money for them, that they can't touch, so they can buy a big ticket item in the Spring.
Apparently, they don't trust themselves not to touch the money if they tried to put it in savings.
I'm sure others are afraid of the IRS and would rather be safe than sorry (stuck with a tax bill) knowing they'll get it back anyway.
I have more tax with held then needed, because the IRS hits you with a huge penalty if your actual tax liability is a certain percentage higher then your withholdings.
If I own the farm and raise cows but have someone milk them,am I exploiting their labor if I do not pay them their 'fair share'?
What IS their fair share as I own the cow,own the farm,gave them a job and found a market?
You shouldnt be able to own the cow or the farm, because its giving you the ability to exploit the cow milker who doesnt have the good fortune of having a farm or a cow.
Their fare share of the proceeds is the labor value of the product (price-actual cost of good sold). Cost of good sold in this case does not include the following
1. Interest expense
2. Capital Gains
3. Realized return on investment (profits or distributions)
4. Rent
These 4 items are completely unique to capitalism. They are basically payments made for, or in return for, use of capital. They require no actual labor to be expended, and therefore, are completely worthless.
You shouldnt be able to own the cow or the farm, because its giving you the ability to exploit the cow milker who doesnt have the good fortune of having a farm or a cow.
Thanks for this.
You desire a place where ownership of property is not allowed it seems.
You desire a place where ownership of property is not allowed it seems.
Not exactly. I desire a place where there is no private ownership of capital. However, I do believe people should be able to own their own residence, and have rights to their own private property.
- If you have withholding, you are paying income taxes. Even if you get it all back. You're still paying them. You could theoretically go exempt status the following year and turn off withholding, but then you run the risk of not being eligible for a full refund the next year and would need to pay possibly a huge sum or be threatened by the government. (In some circles we like to call that extortion, but I digress)
- The figures in this study are skewed for a reason mentioned earlier - I don't think it valid to consider the unemployed or underpaid. A better result would be to analyze those who are making their fair market value, separate them first by filing status, then by # of exemptions, and within those populations, determine whether they have any withholding.
- Even if you get a full refund of taxes (and the refund is a smokescreen - it's money that should never have left you in the first place, but again, I digress), you still paid tax without knowing it. Why? Interest. The government held onto your money for a whole year, interest free, meanwhile they used your money to make more money that they keep and you will never see.
- The current tax system is too risky to the consumer. What happened with California is going to eventually happen to the Feds, where they start issuing IOUs instead of refund checks...yet they'll still keep collecting taxes.
I've been on both sides of it - owing and "not owing", and based on empirical research, it's time for FairTax.
Not exactly. I desire a place where there is no private ownership of capital. However, I do believe people should be able to own their own residence, and have rights to their own private property.
No...you just wrote that I "shouldnt be able to own the cow or the farm"...
BOTH are private property.
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