Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Taxes
Finance Discussion Forum

 What should I do if I owe 5 years past taxes to the IRS?
...


 Can any1 help ?? got a letter from my local council today.....?
about my council tax & housing benifit claims they are sending around an officer to my home on monday what does this mean? am i in trouble?
Additional Details
its a council officer ...


 What are some reason why your income tax refund would be kept by the irs?
...


 Is it just me but I didn't receive my IRS stimulus check and my last two numbers are 05???????
They stated that thy where sending them out starting on the 28 this of this month.. I seen somewhere on the internet where they where doing 800,000 on Monday, 800,000 onTuesday, and Wedsenday and ...


 Does your state have a tax free day?
...


 Has anyone gotten there tax rebate check direct deposited in there bank account today?
I read a news story on Yahoo saying that the ssn's ending 0-22 would start to get direct deposited today since the IRS was ahead of schedule with the checks. I had my taxes direct deposited so ...


 Can I legally be claimed as a dependent?
I am 22 and live with my parents and am also a full time student. I made $14,000 last year. My parents pay for my college witch is no more then $5000 a year. and my car insurence along with health ...


 Is there anything we dont pay tax on?
We go out to work and pay tax on what we earn. We go shopping and pay tax on what we buy. Fill our cars with fuel and pay tax on that plus road tax to have our car on the road in the first place. D...


 Is Big Brother (the government) monitoring Yahoo answers.?
Or is it a coincidence that one week after asking a question on how to avoid tax, I got an IRS audit....


 H&R Block or Turbo Tax?
So I make around $45k a year, have 3 W-2s (two from past jobs), don't own a home or make payments. However, I was given stock and stock dividends from my current employers. Also enrolled in a 401...


 Is it illegal to claim someone elses kids on my income tax? ?
...


 Best site for filing online taxes?
I want to file state and federal taxes,I would like to use my savings account to pay for it,is that possible....


 What is the full form of india?
...


 How are you going to spend your tax return?
For those who think are going to get money back, how are you going to spend it? I think it's time for me to buy an HDTV :)...


 Emerald card tax stimulus why is hr block saying it WILL go onto the card, but the IRS website says it WONT?
I called HR block myself, several times, and every time they say that they have specific information from the IRS that emerald card holders will recieve their tax rebate on that card, but the irs ...


 Is it illegal for an employer to NOT take federal tax out wages?
If an employer doesn't take federal tax out of an employee's wages, but does take out other things such as medicare, social security, etc. is that illegal?
Why would an employer do ...


 Do gypsy`s have to pay tax when selling pegs and lucky stones door to door?
recently bought a lucky stone for £5 the agreement was i buy the stone and she wouldn't put a curse on me i agreed but wanted a receipt she said she would bring it back later should i phone the ...


 Does an 11 year old have to file taxes?
My daughter just started a paper route and will be making about $400 a month....


 What level are you now?
...


 Can my husband claim my son who is not his own on his taxes?
hi, so my husband and I have been married going on two years now, i have a son who will be three and we together just had another baby now 7mo. i am currently a stay at home mom with my two children, ...



Eric R
Can anyone give me ONE GOOD reason why we should EVER INCREASE our income tax rate?

Additional Details
The answer is simple...

We should ONLY LOWER the income tax rate. Time after time, it has been shown that decreasing taxes has only increased our tax revenue.
                     
 




sx881663
Not one penny of all the income tax collected goes to support our government. All of it is used to pay interest on our national debt! Not one penny is used to pay down the principal. So seeing this, just what benefit would we see from them confiscating even more?
Lets talk about the "Fair tax", this proposed national sales tax would put the federal government in every cash register and allow them to see most every penny we spend. We would need a national ID card system to make this work. All this intrusion into our lives and still every penny would go to the international bankers as interest payments. There is no guarantee they would drop the IRS, in fact they wouldn't!

All this and more are reasons I support Dr. Ron Paul for president! He is probably the only one in congress that truly understands our corrupt monetary system and he certianly is the only one with workable plans to fix this problem!


mark
Our taxes should be roughly equal to our expenditures. Some administrations like to guise tax increases in the form of deficit spending (basically a tax increase for our children).

If we want to buy something (like good education, fix our roads, or conduct a war), and our taxes don't cover the expense, then the only way is to increase taxes (or don't spend).

Deficit spending is sneaky way to raise taxes without the current taxpayers being immediately impacted. They basically pass the buck. Republican and Democratic policies have shown that people don't get it. Republicans will borrow whereas Democrats will tax. Taxing is a more fiscally responsible procedure.

When comparing policies, we should add total taxes plus total borrowed to come up with a "total taxed" number. Then we would be comparing apples to apples


Simple economics


bostonianinmo
To balance the budget. We're so far in the hole right now with the national debt that massive tax increases will be needed over a period of decades to undo the damage caused by the current administration's fiscally irresponsible policies.


extra_37
Rating
inflation. The costs of running our federal state and local governments are not static. As interest rates increase, taxable income decreases, therefore tax revenue decreases.


Space_Cadet
Rating
Assuming the national debt is reduced by the money produced by the new tax, and national spending cap/control is set and put into law and that the tax will DEFINITELY be repealed once the ND is reduced then I would consider it so my grand children will not have to move to Sweden.

I would also pay a tax to have a conscious surgically implanted in our current and future government representatives -- I almost said LEADERS but the only thing the majority lead in is stuffing their pockets.


Donald C
Because as we all want to get raises the govt also wants a raise, it helps with pork barreling, war, to pay the Representatives their wage increases and retirements benefits. Oh yes and occasionally it will go to help clean the air, the water, solve science problems, solve welfare problems create reform etc. I on the other hand get maybe a 25 to 50 cent an hour raise, then I have to live on that budget for a whole year facing increasing energy bills, cigarette taxes and a host of other increases. Although my take home pay is more then it was last year, I actually have less spendable income. Which if I had more then I would spend more and help support the needed programs. Of course it is all in the way you look at things.


kevinjohnbrown
Rating
Income tax comes primarily from personal wages/salaries, capital gains and corporate profits

Simply put, if wages, cap gains and profits don't keep up with inflation then the fed and state governments bring in less money relative to inflation.

To compensate for the drop in revenue they either have to cut back on budgets or raise tax rates to keep pace with their budgets (which are also affected by inflation).


Diminati
Rating
In order to balance the budget and eliminate the accumulating debt. Since a huge portion of our tax dollars go to servicing our debt, it would save us all a lot of money in the long term if we could eventually pay off that debt and never acquire more.
However, that would assume fiscal discipline in not increasing spending to match the increased revenue. It would be best to have some kind of amendment in advance.


Cogito Ergo Sum
Nary a one.

Politicians like to blame the people for tax increases, pretending that the people always want more in government services but never want to raise taxes to pay for them.

What they never point out is that there is very little overlap between the people who clamor for more government services and those who will be required to pay for them.

As former Senate Finance Committee Chairman Russell Long was fond of saying, "Don't tax you, don't tax me, tax that fellow behind the tree!"


Fletchenator
Rating
There isn't one. Taxes are already too high.


jaretr72
One very good reason is to provide funding for governmental services as the police and fire departments. Everyone wants lower taxes, but doesn't everyone also want police there when they have a problem and the fire department there when their house is burning down?


fullblastus
Rating
Currently, the USA imposes 25% of the world's debt. Asia has been generous financing our tax cuts, our highway improvements and our entitlements. Congress recently squandered away $54 billion for the next ten years by authorizing everything the drug companies want.

America has three choices: stop spending anything on America to maintain our national identity; introduce more world debt and accept fiscal management oversight by a consorteum of foreign countries; or raise revenues.


Melanie
Ummmm.... NO good question


>Golden Ticket<
Rating
Good question.
http://video.google.com/videoplay?docid=-1656880303867390173

There is a common misconception about where our income tax dollars really go-
http://www.devvy.com/notax.html

What is currently being done with our income tax dollars is criminal.

On the fairtax website I agree these are noble ideas. I would have to look at it further to give you a better opinion.
* Abolishes the IRS
* Closes all loopholes and brings fairness to taxation
* Ensures Social Security and Medicare funding
* Brings transparency and accountability to tax policy
* Allows American products to compete fairly
* Reimburses the tax on purchases of basic necessities
* Enables retirees to keep their entire pension
* Enables workers to keep their entire paycheck

*


SDS
So the many deserving people, who choose not to work because the world owes them a living, can eat.


timo_10143
So those that don't work can keep their jobs.


alvaro
Rating
Bigger Welfare Checks


Brian A
So we can start wars in other countries for no reason and NOT have to sell our country's future to China to pay for it.


bellesnail
National Healthcare Plan.


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.004
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy