This is a time of year that we love and that we hate. For many reasons we love it, the weather is great in most parts of the country. We can start our outdoor chores in the evenings after work, the grass is green and nights are perfect!! The reason we hate it, is because its time to do your taxes.
For many people, they wait until the last minute to do their taxes. Mainly because they will owe the IRS or not get anything at all back in the form of a return. Estimations show that the IRS will receive about 2 trillion dollars in money from Taxes. Now I am not sure if that is just for what people owe now, or total from what has already been paid. The point is, that is a lot of money that is being collected and what is being done with it to help America?!
I think the better question we all should be asking ourselves is, why does the government continue to add too policies and codes, yet they do not go back and remove what is wasteful, or not needed.
For those that believe that the rich or 1% pay less in taxes are just foolish in their thoughts or just can not add. If someone lives off the the capital gains of their investments. They pay roughly 15% tax rate. That is less then what a lot of middle class people pay. The problem is, they are paying 15% on $10+ million. The 1% truly pay more taxes in one year, then most American's will pay in a lifetime. They are contributing to the bulk of the taxes collected. Those are numbers that are validated with everyone in every circle.
Now some people do not want to admit those numbers and they want just say, well Warren Buffet pays less in taxes then his secretary. They are leaving out the word, "RATE". Which is true. I would guess that his secretary makes 6 figures. Warren Buffet has been known for being a frugal man that does not live an outlandish life style. So since he wants people to pay more in taxes, then pay it. Write the check. The problem is that those that want more revenue, want it to be required by law to do so and not just because it's their "fair share".
I honestly believe most of the 1% pay their fair share. They pay 70% off all taxes in the country. The problem is, we have people making $24-$32K a year. They are paying in roughly $6-7K a year in taxes. Since they have a home mortgage and 3 kids they get back $8-9K per year in refund. Last time I checked, that leaves a negative balance on the other side of the isle. WAIT, according to the President and the left, it does not need to balance right?!
This brings me to my next point. I do not begrudge people for having kids or even getting a break at tax time. What I do have a problem with is when the next person works 2 different jobs, has a house, pays the bills. If that person drew unemployment, or had to borrow from their 401K. They would actually owe the government money. Now this would not be an issue is he had a couple of kids or making child support payments. The problem is, that guy has just as hard of time making the bills and even getting by as someone with 2 kids.
There needs to be a more easily understood tax code. There needs more money paid by more of the people. So if we even out what people pay across the board. Calculations indicate that it would actually balance the government budget and give them a surplus of money.
When the last democratic president was in office, balancing the budget was a top priority. Now it's not even an issue. Just keep spending. More money in the bank means people can spend more, they buy a new TV, or can repair their car. They can also save for a new house, or other big ticket items that they want in their lives. This is how a successful economy works.
There is discussion in D.C. about the government limiting what you can contribute to your 401K. WHAT??!!! SO let me get this straight, Medicare is going bankrupt according to both sides. Stock market is up and doing well for some reason, yet the government wants to limit what I can save for when I get old?
NO NO NO!!!!
There are a lot of problems with our country. The change starts in D.C. I do not want to depend on the government for me to survive. Because that is not they way I want to live my life. We have to start getting people to understand that nothing is for free. There is a cost tied to everything we do in our lives and we have to control the spending.
A big part of all this goes back to teaching some responsibility. Your actions have consequences. You have to be responsible for you and your lively hood. It is not up to others or even their fault. D.C has no responsibility for its actions. It has created laws and regulations that exclude it from harm. They work for us, we do not work for them and most do not know what is really going on in this country with every day people.
For many people, they wait until the last minute to do their taxes. Mainly because they will owe the IRS or not get anything at all back in the form of a return. Estimations show that the IRS will receive about 2 trillion dollars in money from Taxes. Now I am not sure if that is just for what people owe now, or total from what has already been paid. The point is, that is a lot of money that is being collected and what is being done with it to help America?!
I think the better question we all should be asking ourselves is, why does the government continue to add too policies and codes, yet they do not go back and remove what is wasteful, or not needed.
For those that believe that the rich or 1% pay less in taxes are just foolish in their thoughts or just can not add. If someone lives off the the capital gains of their investments. They pay roughly 15% tax rate. That is less then what a lot of middle class people pay. The problem is, they are paying 15% on $10+ million. The 1% truly pay more taxes in one year, then most American's will pay in a lifetime. They are contributing to the bulk of the taxes collected. Those are numbers that are validated with everyone in every circle.
Now some people do not want to admit those numbers and they want just say, well Warren Buffet pays less in taxes then his secretary. They are leaving out the word, "RATE". Which is true. I would guess that his secretary makes 6 figures. Warren Buffet has been known for being a frugal man that does not live an outlandish life style. So since he wants people to pay more in taxes, then pay it. Write the check. The problem is that those that want more revenue, want it to be required by law to do so and not just because it's their "fair share".
I honestly believe most of the 1% pay their fair share. They pay 70% off all taxes in the country. The problem is, we have people making $24-$32K a year. They are paying in roughly $6-7K a year in taxes. Since they have a home mortgage and 3 kids they get back $8-9K per year in refund. Last time I checked, that leaves a negative balance on the other side of the isle. WAIT, according to the President and the left, it does not need to balance right?!
This brings me to my next point. I do not begrudge people for having kids or even getting a break at tax time. What I do have a problem with is when the next person works 2 different jobs, has a house, pays the bills. If that person drew unemployment, or had to borrow from their 401K. They would actually owe the government money. Now this would not be an issue is he had a couple of kids or making child support payments. The problem is, that guy has just as hard of time making the bills and even getting by as someone with 2 kids.
There needs to be a more easily understood tax code. There needs more money paid by more of the people. So if we even out what people pay across the board. Calculations indicate that it would actually balance the government budget and give them a surplus of money.
When the last democratic president was in office, balancing the budget was a top priority. Now it's not even an issue. Just keep spending. More money in the bank means people can spend more, they buy a new TV, or can repair their car. They can also save for a new house, or other big ticket items that they want in their lives. This is how a successful economy works.
There is discussion in D.C. about the government limiting what you can contribute to your 401K. WHAT??!!! SO let me get this straight, Medicare is going bankrupt according to both sides. Stock market is up and doing well for some reason, yet the government wants to limit what I can save for when I get old?
NO NO NO!!!!
There are a lot of problems with our country. The change starts in D.C. I do not want to depend on the government for me to survive. Because that is not they way I want to live my life. We have to start getting people to understand that nothing is for free. There is a cost tied to everything we do in our lives and we have to control the spending.
A big part of all this goes back to teaching some responsibility. Your actions have consequences. You have to be responsible for you and your lively hood. It is not up to others or even their fault. D.C has no responsibility for its actions. It has created laws and regulations that exclude it from harm. They work for us, we do not work for them and most do not know what is really going on in this country with every day people.
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