Random Thoughts - Part III The Search for Spark (No Politics)

[Sapphireho]

Originally Posted by p1l0t

Withholding is just an estimate I know that.

Guess I could have been nicer and left out the stupid comment. But like Ultra pointed out, lots of people in big ranges of IQ don't know the difference.

Your income tax bill is your income tax bill. Your withholdings are how much you paid in advance.

Funny, when they first had income tax there was no withholding. Tax time came and no one had the money to pay. Fed came up with withholdings.

[p1l0t]

Originally Posted by Sapphireho

Guess I could have been nicer and left out the stupid comment. But like Ultra pointed out, lots of people in big ranges of IQ don't know the difference.

Your income tax bill is your income tax bill. Your withholdings are how much you paid in advance.

Funny, when they first had income tax there was no withholding. Tax time came and no one had the money to pay. Fed came up with withholdings.

Oh I don't care if you think I'm stupid. I don't have a big ego or anything. I know the difference though between withholding and what you finally owe. I do my own taxes actually (with the help of expensive software). Still my point is valid. If they know what you owe why do you have guess when you file? Why can't they just give you the bill or rebate? We should only have the chance to contest, not try to figure it all out and then get fined if we forgot something.

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[Stephen W.]

It’s the same the world over. The government, (any agency really) works in generalities or averages. At the end of the year they need to reconcile their books. Why should they do it when they can get you to do it for them? It’s how we got self-serve gas stations and now checkouts. Think of it like an electric bill on equal billing. The power company averages 11 months of payments based on last year’s usage. Then they read your meter and your 12th payment brings you in line with your actual usage.

[Sapphireho]

Originally Posted by p1l0t

Oh I don't care if you think I'm stupid. I don't have a big ego or anything. I know the difference though between withholding and what you finally owe. I do my own taxes actually (with the help of expensive software). Still my point is valid. If they know what you owe why do you have guess when you file? Why can't they just give you the bill or rebate? We should only have the chance to contest, not try to figure it all out and then get fined if we forgot something.

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I don't think you're stupid. I think "people" are stupid.

I think everyone should have to write checks to the feds and state each month, then they would have at better feel of how much money our governments get and waste.

[p1l0t]

Originally Posted by Sapphireho

I don't think you're stupid. I think "people" are stupid.



I think everyone should have to write checks to the feds and state each month, then they would have at better feel of how much money our governments get and waste.

I'm a people.. lol. I'm also probably stupid though so it's fine. That probably does make sense instead of withholding. I wish even if we have to pay our share we get to choose which programs it goes to. Like if you pay $1k a month you can send it all to NASA if you want instead of welfare, the military, whatever (or vise versa). I think what people really support and don't would manifest quickly. We probably wouldn't even need politicians.. oh wait..

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[Ultramaroon]

Originally Posted by Sapphireho

Good questions. Now I'll be up all night.

lol

I was just enjoying myself. I didn't think there was anything controversial about your observation. We're all stupid.

[NoHaveMSG]

Originally Posted by Sapphireho

I don't think you're stupid. I think "people" are stupid.
.

You rang?

I messed up because I was doing side work at my old job as an independent so they gave me a 1099. I should have paid it in August but forgot so I had to pay on that plus penalty for not paying quarterly on time.

[Sapphireho]

.

[Sapphireho]

Originally Posted by NoHaveMSG

You rang?

I messed up because I was doing side work at my old job as an independent so they gave me a 1099. I should have paid it in August but forgot so I had to pay on that plus penalty for not paying quarterly on time.

I'm lucKy Idaho doesn't mind if I don't pay quarerly. My pension won't withhold for Idaho. I just pay the total at tax time.

One thing that sucks, I get lifetime medical from my old work, but moved out of the area, so I get a payment in lieu. California taxes me on it as income earned in CA, so I have to file two states.

[Sapphireho]

Originally Posted by Ultramaroon

I didn't think there was anything controversial about your observation.

I'll work on that.

[Ultramaroon]

Originally Posted by Sapphireho

I'll work on that.

I'll be right here.

[Sapphireho]

Originally Posted by Ultramaroon

I'll be right here.

I knew I could count on you.

[Dadhawk]

Originally Posted by p1l0t

...If they know what you owe why do you have guess when you file? Why can't they just give you the bill or rebate? We should only have the chance to contest, not try to figure it all out and then get fined if we forgot something....

Even if you're a strict W2 type wage earner, the IRS may not know everything because not all deductible items (or wage items for that matter) are reported directly.

Ultimately though this is why I'm a fan of a national sales tax. Eliminate the income tax and charge me on what I buy not what I make.

[Teseo]

Originally Posted by Dadhawk

Even if you're a strict W2 type wage earner, the IRS may not know everything because not all deductible items (or wage items for that matter) aren't reported directly.

Ultimately though this is why I'm a fan of a national sales tax. Eliminate the income tax and charge me on what I buy not what I make.

That's called VAT (Valued-added tax). All the world use that, except USA. If USA implement this tomorrow, all wage will have an increment of 10% up