No, SpC, their surplus wealth has been extracted in the form of your taxes - federal, state and local - prior to calculating your disposable income, if any. In other words, the government eats first.
Or writing a check every month so we all actually see how much it cost for this fraud of a government. The first thing I learned in my new company is the government REQUIRES that every quarter I must pay taxes on money I am projected to make (within 10%) that year. Taxed on money I haven't made yet for a government that is constantly trying to put me out of business because some bureaucrat is trying to justify his/her existence. Go Trump!
Withholding income taxes from one's check is a clever innovation of Government. Most Americans have grown so accustomed to this that they don't even bat an eyelash at their "gross" pay. Most don't have a fucking clue what they pay in taxes. If they had to write that annual, quarterly or monthly check and send it to the US Government in return for absolutely nothing I guarantee they would be spitting fire in anger.
The other clever innovation is making people pay property taxes from an escrow account controlled by their mortgage lender. Most of these doofuses don't have a clue how much they pay in property taxes either because the damned banks pay it directly to the County.
Withholdings are evil and without them I believe we would have a different tax situation. Probably a much better tax situation.
Agreed! I can tell you not one of my employees looked at the amount of taxes taken out of their check. They just looked at the bottom line. And most bragged how much they were "getting back" at tax time.
Good morning, Tee, and the withholding weekly - it serves as an interest free loan to the government - issued weekly. IOW, withholding on payroll for Jan 1 thru Jan 7, 2025, is not due the Gov until April 15, 2026.
An interest-free 16-month loan - it's bullshit. Week two, is an interest-free loan for 16 months less a week, and so on. It's a racket that most can't understand.
No its worse than that everyone should have to pay taxes quarterly instead of every paycheck because the amount one would pay every quarter is eye opening.
Having it come straight out of every pay check lulls one to sleep about it.
Having to come up with $5k - 100k a quarter would incentivize the normies to pay more attention to spending...literally.
We all know the really rich hide their money and the Democrats simply don't work.
A flat tax. That's where we should be. A flat 5% on all income. Period. The wealthy will pay more because 5% of a $billion is a lot more than 5% of $100,000.00. The poor would pay their share just as the wealthy. Tax returns could be done with a post card.
Will NEVER HAPPEN! The current tax system favors the wealthy elite and massive corporations.
VAT taxes are used in Europe, as things are built up, each stage is taxed per the value added. End item VAT taxes are sales taxes where the item is taxed at full value.
Your description of the flat tax is right on.
Post card. Sales minus cost of production = income.
Multiple by .05, send it in.
A good question, why do military types pay taxes? Also, if you have paid taxes for social security throughout your life, why do you have to pay again after retirement?
Good point, Ben. Ever think about Social Security contributions - annually instead of weekly? Never happen, Social Security payments to current recipients would collapse within a week. What people contribute every Friday, gets paid out that month - there is no Social Security "Trust Fund".
I can't speak for Astera, but I don't think she believes all victims deserve everything they get. Certainly, many choose the circumstances that make them victims.
A Crip going to a Blood barbeque, can't cry foul when he gets a cap in the ass.
"...surplus wealth...."
'Zat anything like the 'disposable income' I have left at the end of each month?
No, SpC, their surplus wealth has been extracted in the form of your taxes - federal, state and local - prior to calculating your disposable income, if any. In other words, the government eats first.
We need to get rid of mandatory withholding ASAP. Let's go back to paying the gov what we think they're worth.
Or writing a check every month so we all actually see how much it cost for this fraud of a government. The first thing I learned in my new company is the government REQUIRES that every quarter I must pay taxes on money I am projected to make (within 10%) that year. Taxed on money I haven't made yet for a government that is constantly trying to put me out of business because some bureaucrat is trying to justify his/her existence. Go Trump!
Withholding income taxes from one's check is a clever innovation of Government. Most Americans have grown so accustomed to this that they don't even bat an eyelash at their "gross" pay. Most don't have a fucking clue what they pay in taxes. If they had to write that annual, quarterly or monthly check and send it to the US Government in return for absolutely nothing I guarantee they would be spitting fire in anger.
The other clever innovation is making people pay property taxes from an escrow account controlled by their mortgage lender. Most of these doofuses don't have a clue how much they pay in property taxes either because the damned banks pay it directly to the County.
Withholdings are evil and without them I believe we would have a different tax situation. Probably a much better tax situation.
Agreed! I can tell you not one of my employees looked at the amount of taxes taken out of their check. They just looked at the bottom line. And most bragged how much they were "getting back" at tax time.
Absolutely, and when.
Good morning, Tee, and the withholding weekly - it serves as an interest free loan to the government - issued weekly. IOW, withholding on payroll for Jan 1 thru Jan 7, 2025, is not due the Gov until April 15, 2026.
An interest-free 16-month loan - it's bullshit. Week two, is an interest-free loan for 16 months less a week, and so on. It's a racket that most can't understand.
No its worse than that everyone should have to pay taxes quarterly instead of every paycheck because the amount one would pay every quarter is eye opening.
Having it come straight out of every pay check lulls one to sleep about it.
Having to come up with $5k - 100k a quarter would incentivize the normies to pay more attention to spending...literally.
We all know the really rich hide their money and the Democrats simply don't work.
Ben, what would happen if taxation was based on consumption instead of income? A VAT tax? Or in addition a flat tax?
How do you calculate consumption?
A flat tax. That's where we should be. A flat 5% on all income. Period. The wealthy will pay more because 5% of a $billion is a lot more than 5% of $100,000.00. The poor would pay their share just as the wealthy. Tax returns could be done with a post card.
Will NEVER HAPPEN! The current tax system favors the wealthy elite and massive corporations.
VAT taxes are used in Europe, as things are built up, each stage is taxed per the value added. End item VAT taxes are sales taxes where the item is taxed at full value.
Your description of the flat tax is right on.
Post card. Sales minus cost of production = income.
Multiple by .05, send it in.
A good question, why do military types pay taxes? Also, if you have paid taxes for social security throughout your life, why do you have to pay again after retirement?
No taxes on income, period. All the games come from that.
Trump has declared that a goal.
We have that in California on top of "regular" tax burdens.
There is never enough money no matter how much is taxed.
One fair tax is on gasoline to finance the road infrastructure. If it just wasnтАЩt being used to support illegals.
Good point, Ben. Ever think about Social Security contributions - annually instead of weekly? Never happen, Social Security payments to current recipients would collapse within a week. What people contribute every Friday, gets paid out that month - there is no Social Security "Trust Fund".
I'm glad somebody here gets it.
Is that all I am? A somebody? Thanks, alot.
Please, drop the victimhood complex. Thanks in advance.
You very well know that everyone today is a victim of something.
No, nobody is ever a victim of anything. They deserve it. Nay, they chose it! Ask Astera.
The atomic soldiers got free x-rays and they should have shut the fuck up.
The comment was facetious, but some truth in it.
I can't speak for Astera, but I don't think she believes all victims deserve everything they get. Certainly, many choose the circumstances that make them victims.
A Crip going to a Blood barbeque, can't cry foul when he gets a cap in the ass.
Soooooo, nothing, right?
I could live with a poll tax if it didnтАЩt put me in the poor house.
No way is that taxed monies!
It's POOF money in the form of borrowed and blown created from digits 1 0 1 0 1 0.
They could tax everyone at 100% of earnings and never get near what has been spent every year since at least Obama on.