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 Tax explained.............

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terrier
Super Scooter Rider
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terrier

Number of posts : 201
Age : 69
Location : Northumberland, UK
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PostSubject: Tax explained.............   Thu Feb 07, 2019 2:30 pm

https://www.youtube.com/embed/BomQxCG5VG4?rel=0&autoplay=1
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Easyrider
Silver Wing Expert
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Easyrider

Number of posts : 682
Age : 68
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Registration date : 2015-12-18

PostSubject: Re: Tax explained.............   Fri Feb 08, 2019 12:35 am

Very true. Simplified, but true.
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cotetoi
Silver Wing Expert
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Number of posts : 671
Location : New Brunswick, Canada
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PostSubject: Re: Tax explained.............   Fri Feb 08, 2019 9:12 am

I guess the tax system was brought in to pay for the war effort. Whichever war that was.
Every household was expected to pinch in.
The Govt would reach in their pockets and remove a pinch, between thumb and forefinger.
As time went on, the Govt needed more, so the pinch became a fistful.
Soon the Govt expanded and needed more of the hard-earned earnings: so they reached into the pockets and got an armful.
In our times, Govt is fully immersed, bent at the waist, deep in the public feeding trough.

Just another explanation for taxes.

Jay.
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"Hi Yo"
Silver Wing Guru
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Number of posts : 2941
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PostSubject: Re: Tax explained.............   Fri Feb 08, 2019 2:13 pm



Here the people call it THE IRS. The government calls it THEIRS!!!
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Dale N.
Silver Wing Guru
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Dale N.

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PostSubject: Re: Tax explained.............   Fri Feb 08, 2019 10:55 pm

Hi Yo wrote:


  Here the people call it THE IRS.  The government calls it THEIRS!!!

Amen to that!!
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bikehiker
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bikehiker

Number of posts : 297
Location : New Cumberland PA
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PostSubject: Re: Tax explained.............   Sat Feb 09, 2019 2:28 pm

It's a fair explanation, but there are too many at the top who pay NO tax because they can afford the sleazy attorneys to fudge the loopholes.

What percent of people in this country do you think cheat on their taxes? Maybe easier to count those who don't cheat.

Everybody, including the first 4, should have skin in the game. A flat 10% across the board tax. No loopholes, deductions, etc. You make only a dollar? Put 10 cents in the bucket. We all pay sales tax that has no loopholes, deductions, etc. Balance the budget against that 10 percent income tax with a cap on spending on total taxes that come in. Easier that way to avoid cheaters and guarantee income.

Sadly, this will never happen.

Steve Forbes for President.
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Easyrider
Silver Wing Expert
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Easyrider

Number of posts : 682
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PostSubject: Re: Tax explained.............   Sat Feb 09, 2019 3:30 pm

That would discourage investments. There is no good way to allocate appropriate tax share.
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Mech 1 twa
Silver Wing Rider
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Mech 1 twa

Number of posts : 439
Location : Allentown PA.
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PostSubject: Re: Tax explained.............   Mon Feb 11, 2019 9:12 pm

Many loopholes and deductions. Some pay less taxes than their refund is? That's a problem. How can you get back more than you paid in? Evil or Very Mad

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Jim Caudill
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Number of posts : 19
Age : 67
Location : Near Dayton, Ohio
Points : 388
Registration date : 2018-03-02

PostSubject: Re: Tax explained.............   Thu Feb 14, 2019 5:45 pm

Will Rogers said it best many, many, years ago: "We've got the best government money can buy".

It is absolutely true that the rich keep getting richer, and everyone else is doing worse (with very few exceptions).

You can get more $ back than paid in due to certain tax credits. The "Child Care Tax Credit" is one that comes to mind right away.
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