Ferrari Mailing List: Re: "Economics"

[Steve Jenkins (steve]

That would never happen - the FedGovCo wants the interest on the money they
get to "hold on to for you" until April 15th (you don't get any of that
interest applied to your tax burden, btw).

If everyone had to pay quarterly (like I do), then they would weep, wail,
and gnash their teeth every quarter (like I do!)

SJ

-----Original Message-----
From: Hans E. Hansen [mailto:FList [at] hanshansen.org] 
Sent: Thursday, November 13, 2008 10:18 PM
To: Steve Jenkins
Cc: The FerrariList
Subject: Re: [Ferrari] "Economics"

What the "average Joe" misses in all of this is the actual amount that
they are paying.  Taxes are withheld prior to the paycheck being issued.
All "average Joe" sees is his net check.  He doesn't realize what he
is missing, and hopes for a few hundred or maybe a couple thou refund
when TurboTax calculates his net bill.  So.......    Even "average Joe"
pays quite a chunk, but doesn't really see the pain, as it's already
been taken away.

Best way to reduce taxes:  Eliminate withholding.  Make all of us
cough up April 15th.    Let the bitching
begin.................................

Obamanation would soon be overrun with discontent citizens.

Welcome to the U.S.S.A.

Hans.

On Thu, Nov 13, 2008 at 8:00 PM, Steve Jenkins <steve [at] stevejenkins.com>
wrote:
> How much extra have I kicked in to pay for the war effort?
>
> Way more than my fair share on April 15th, then July 15th, then October
> 14th, then January 15th, then April 15th, then July 15th, then October
15th,
> then... well, you get the picture.
>
> Someone mentioned in this thread the top tier tax rate being 36%. Don't
> forget self-employment tax! I pay another 7.5% on top of that for the
> "priviledge" of taking all the risk and working the ultimate commission
job:
> working for myself. Throw in an almost 10% sales tax in my state (WA) and
> crazy property taxes in King County (I pay over $20K a year in taxes for
the
> priviledge of living on land I own free-and-clear).
>
> Wow! I get to keep around half of what I make!
>
> Just because it's legal doesn't make it fair. :)
>
> SJ
>
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