Bottom post of the previous page:
I don't disagree about the tax code being too complex. As for the part about figuring it out yourself at least next year the IRS has their own app coming out that is free so that's something.PetePierson wrote: ↑Sun Jul 07, 2024 3:39 pmI don't blame people for taking all the legal deductions possible. It would be stupid not to.The Outsider wrote: ↑Sun Jul 07, 2024 3:29 pm
https://www.irs.gov/filing/federal-inco ... d-brackets
Tax rate on taxable income from . . . up to . . .
10% $0 $11,000
12% $11,001 $44,725
22% $44,726 $95,375
24% $95,376 $182,100
32% $182,101 $231,250
35% $231,251 $578,125
37% $578,126 And up
You think we're all pulling in almost 200k a year? I'm in the 22% bracket, no state income tax, and I take the deductions that I can. What I don't do is use creative accounting (or just straight up not claiming) to hide money I've made.
The only time I did that was when I worked tipped positions because if I claimed my tips I wouldn't have been able to afford to live.
Also agree with you that I don't like those with way more than most using creative accounting to not pay taxes.
On the flip side, the tax code is completely too complex. Moreover, why I am telling the State what I owe. Only to be penalized if that number is "wrong" according to the IRS.
But as the saying goes; the US doesn't have a tax problem. The US has a spending problem. I wish we would explore a fair tax or consumption tax as that makes the most sense to me. But we all know that's never going to happen.
Edit: And no one should be paying >15%-20% in Federal Income taxes. Don't know how people in California, Jersey, NY, etc... do it when you add in state & local taxes. Was eye opening moving from FL to NC. Paying property taxes on vehicles every year? Someone didn't do all of his research prior to moving.
As for our spending problem, that's largely on the military end of things. My golden goose would be slashing military spending by around 33% all in the area of black projects so no service members would be outright affected aside from possibly being reassigned. That alone would be enough to fund government funded health care and fund the public education system to the level where teachers would actually get paid livable wages and get material support from the school district.
My sister has a Master's in Education and she's teaching in Pasco. She's been a teacher for roughly 12 years if I recall correctly. I started my first official IT job 10 months ago making 55k a year. I make more than 10k more than she does. That's where our priorities are fucked up and no wonder kids younger than the millennial generation are borderline retarded.