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Uvah

Join Date 05/2006

+873

This is fair??

Pay no taxes and still get a refund

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Sorry but this has to be said. Facebook posted an enormous profit for 2012 to the tune of 1 Billion dollars. Paid no income taxes and got a refund of 429 million dollars. No wonder this country is so f****d up. It really pissed me off!

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Island Dog

Join Date 06/2003

+944

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LightStar

Join Date 12/2002

+705

THERE SHOULD BE NO TAX BREAKS FOR THE RICH OR BIG CORPORATIONS AT ALL... NONE... ZIP... NOTTA!!!

I agree with Ross, this country is so f'd up it's pathetic!

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DaveRI

Join Date 09/2003

+292

Ya I think I've been "trickled down on" about enough.

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ZubaZ

Join Date 11/2001

+887

http://www.fairtax.org/site/PageServer?pagename=FairTax_and_Business

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doortech1

Join Date 12/2011

+251

Politics, get it out!Lol

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LightStar

Join Date 12/2002

+705

Not about politics, about taxes. If you go to that link Zubaz posted, click on the Home link and watch the video, its enough to make one cry.

Better yet, this is quicker: http://www.fairtax.org/site/PageServer

I do not however totally agree with them, taxing food and medical spending, which are necessities of life, is just plain wrong.

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Phoon

Join Date 10/2001

+364

you may THINK this isn't about politics. It's teetering on the razors edge of it though and I will bet that unless this thread is locked,... pronto, it is going to turn in to politics in the extreme. Frog says no politics on here... period.

Talking about taxes is about as political as you can get..

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Uvah

Join Date 05/2006

+873

It was just a rant, blowing off steam as it were. Nothing more.

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Pissed off, is better than pissed on.

Unless, urine to that.

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starkers

Join Date 05/2004

+1070

Facebook posted an enormous profit for 2012 to the tune of 1 Billion dollars. Paid no income taxes and got a refund of 429 million dollars.

Yup, that'd get my dander [ire] up. It's another case of the rich getting richer... at everyone else's expense... happens all over the world.

However, if this were a headline about an Aussie company ripping off the country [read taxpayer], I'd have some rather colourful language to impart.

In any event, it is an enormous travesty and it needs to be remedied... and laws to prevent it ever happening again.

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Uvah

Join Date 05/2006

+873

Quoting aunteachrist,

reply 9

Pissed off, is better than pissed on.

Unless, urine to that.

EEWWW! That stinks but not as much as tripping and falling face first into a pile of dog poop, I was about twelve. BTW...my folks had two Great Danes at the time, big ones!

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WOM

Join Date 01/2002

+244

Did my taxes and found out I own and I'am retired. Because I owe, I have to pay a penalty. Now that sucks.

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LightStar

Join Date 12/2002

+705

Quoting WOM,

reply 12

Did my taxes and found out I own and I'am retired. Because I owe, I have to pay a penalty. Now that sucks.

I am retired too WOM, from the military though. So I have them take an extra $25 a month in federal taxes every month. I just consider it like a savings account I guess, because I get it back after filing my taxes. I do it just to be sure I don't owe the government anything at the end of the year. You might consider having a little extra paid out every month too, it may help.

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DrJBHL

Join Date 04/2002

+2327

Quoting LightStar,

reply 13

I just consider it like a savings account I guess, because I get it back after filing my taxes.

Minus the inflation. Actually, WOM is probably (and hopefully) paying less if there are no penalties attached.

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LightStar

Join Date 12/2002

+705

Quoting DrJBHL,

reply 14

Quoting LightStar, reply 13I just consider it like a savings account I guess, because I get it back after filing my taxes.

Minus the inflation. Actually, WOM is probably (and hopefully) paying less if there are no penalties attached.

Well, he said he had to pay a penalty Doc. Sad.

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I don't even have a job and "made" a pathetic amount of money last year from unemployment. I paid Federal and State taxes on that money.

My Mother is in her 70's, my Stepdad is in his 80's. Both are long since retired and living on Social Security, they paid the same taxes.

So, what is wrong with this picture?

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DaveBax

Join Date 10/2007

+629

Quoting WOM,

reply 12

Did my taxes and found out I own and I'am retired. Because I owe, I have to pay a penalty. Now that sucks.

Don't quite understand htat unless you are over a certain amount. This is the second year since I retired I have done my taxes. Last year I had to pay $~!40.00 and this year it's $148. Paid no penalty last year and was told no penalty this year. After taliking to my fininical adivsor and an actual tax Lawyer I was told I won't be charged unless I owed over 5 hundred dollars. So when I take money from my accounts each year I have no tax taken out which i could if I wanted. Easier to pay the little I owe than have money taken out each year. At least for me. If I knew I was going to receive a penalty I would have tax money taken out rather than paying extra charges.

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starkers

Join Date 05/2004

+1070

For mine, the US tax system is about as f**ked as you can get. Retired people should never have to pay taxes unless they're earning huge amounts of interest on savings and/or investments. Here in Oz, pensioners do not pay personal/income tax unless they have additonal income over about $120 per fortnight.... then they pay about 30c in the dollar or something. Usually, however, most pensioners/retired people pay nothing. Unemployed persons do not pay tax, either... not until they're employed

Here in Oz, we consider pensioners, the disabled and unemployed to be at the low end of the socio-economic scale - the poorest of society - and therefore are not required to pay personal/income tax. And what's this paying taxes into your 80's??? I mean, doesn't the US Gov't think you've contributed enough during your regular working life?

And when a multi-million dollar corporation gets a refund of 429 million dollars after paying nothing in, there is something seriously wrong with the system. Yup, if I were the American people, I'd be calling for heads... and gonads [to prevent like-minded offspring].

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Fuzzy Logic

Join Date 05/2002

+484

And I thought UK taxes were bad...

A normal allowance per year is £8,105.00 before tax, then it's 20% on earnings over that, 40% over £34,370.00 and 50% over 150,000.00.

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starkers

Join Date 05/2004

+1070

Quoting Fuzzy Logic,

reply 19

And I thought UK taxes were bad...

Frankly, taxes in any Western Nation are bad. I mean, look who gets paid first.... then there's their golden handshakes and exceedingly generous retirement funds... all out of taxpayers dollars/pounds/euros, etc. Then there's the grants to fund highly ridiculous studies that do sweet f/a to improve life for anyone. And all the gov't and bureaucratic overseas trips with an entourage of dozens to wait on the bastards hand and foot.

Yup, everyone in every country should fight for lower taxes and to cut the crap.

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Philly0381

Join Date 11/2004

+843

Cut out most of the costs dealing with collecting taxes. No tax forms to fill out, not deductions or exemptions to worry about, and take away the fear of some folks about earning too much money (there may be some). Flat Tax is the answer, your employer all ready deducts estimated taxes and sends them to the Government. Why must they be estimated. What ever the rate, 5 or 10 cents of each dollar earned goes to the Government, end of story. Do the same for states that have Income Tax.

Yeah, there will be lots of folks that will say that can not work, but really there is no logical reason why not.

Give it some thought, it won't hurt.

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LightStar

Join Date 12/2002

+705

Quoting Philly0381,

reply 21

If there was a way to just cut out some of the nonsense dealing with Income Taxes. We are going to pay taxes, I'm sure everyone will agree with that. The Government needs money to function, but they sure don't need to pay folks to audit tax forms.

Cut out most of the costs dealing with collecting taxes. No tax forms to fill out, not deductions or exemptions to worry about, and take away the fear of some folks about earning too much money (there may be some). Flat Tax is the answer, your employer all ready deducts estimated taxes and sends them to the Government. Why must they be estimated. What ever the rate, 5 or 10 cents of each dollar earned goes to the Government, end of story. Do the same for states that have Income Tax.

Yeah, there will be lots of folks that will say that can not work, but really there is no logical reason why not.

Give it some thought, it won't hurt.

Agreed, but no breaks at all for corporations or the rich! If they were to have a flat let's say 10% tax for everyone that earns above poverty level, but not retirees (unless they make over $250K a year) or the disabled, that should do well enough. Gee, let's see... if Facebook and all those other rich companies/individuals would have had to pay a 10% tax.... lets see, uhmmm... well, that should cover the government programs I would think.

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Philly0381

Join Date 11/2004

+843

No exceptions or exemptions across the board LightStar. I know it sounds harsh and cruel when you talk about poverty levels, retirees and disabled. As soon as you allow 'wiggle room' everyone will want on the dance floor. Heck the rate if applied to everyone equally might be able to be less then 10%, maybe more in the 5% range. The important thing is you cut out the cost of the IRS and other oversight costs. That has to be a big savings there. The revenue from Income Taxes just goes straight into the Treasury.

It's not like the wheel is being reinvented here, just some logic and common sense being applied to solve a problem.

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DaveRI

Join Date 09/2003

+292

Here's a though that might make your head explode. Raise taxes on the corporations - will they just eat that? Of course not, they'll raise prices to cover it, plus a percentage of that to get their desired rate of return. If what they sell goes to say a distributor, then the distributor will raise their prices the amount of the increase to them, plus an extra percentage to get their rate of return on that increase, plus an extra percentage to pay for their own new higher tax costs. Then the retailer will raise their prices to cover the additional cost to them, plus an extra percentage to get their rate of return, plus an additional percentage to pay for their own new higher tax costs. The end consumer will, naturally, pay for all that.

I started to do the math on that but I don't think I want to.

Much better to tax everything more effectively on the tail of the process so it doesn't get all that marking up.

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