 Where in the world is my stimulus check??? |
| so according to the irs website, i should've gotten my check on may 9th, but nothing has appeared yet (i even checked my account to see if it had been direct deposited) . i filed my taxes for ... |
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 Is it true that one can claim a new car in the taxes? |
this year i bought an '06 scion xB, and i was told by some one, that i could get credit for it, suppossedly, it does good to the economics to buy a car. is this true????
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 IRS Stimuli Rebate... delay in direct deposit! Question? |
| I was scheduled to receive mine today May 9th. I'm not in dire need of that stimuli $ but was worried because it did not go through. I called the IRS hotline and a very rude-toned lady answered ... |
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I want to know if there is some way to fill out your W4 to get no Taxes taken out I live in California.. is there a web page with this information?
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Nothing I... |
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| I didn't file my 2005 taxes yet. In April I filed an extension until 10/16. What happens if I'm not ready yet? |
| This is for my personal taxes filing for 2005 (Federal and New York State). I wasn't ready for the April 15, 2006 deadline so I filed an extension, allowing me to file my taxes by 10/16/06. I&#... |
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I just checked my e-mail and it said that I just won the UK National Lottery...here's an excerpt from what they sent...
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 Is this shy I did not receive my stimulus/rebate check today? |
| MY last 2 end in 57 My refund was deposisted on feb 14 with DD but i did have a $347.00 offset. will that effect me? cuz I was supposed to get mine ... |
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 Can my ex husban claim my child on taxes with out telling me? |
| my ex husbandd claim my child on his taxes after we got divorce when i have 85% by the court but i spend 100% with my children he never spend the 15% that he has, i well like to know if he can claim ... |
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 Has anyone else been the victim of Brown's 10p tax hike in their payslip today? |
| I am incensed. I have opened my payslip today to find I've had £10 stolen from my pay this month. I work term time only and am paid pro rata - this means I will lose £120 per annum. With a ... |
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junebug | Do you support or oppose the Fair Tax? |
Do you agree or disagree that the USA should get rid of the income tax and create a national sales tax? The poor consume less so naturally they would pay less, but with the fair tax they would be able to keep their entire paycheck. It would save time & money in the government by eliminating tax evasion and freeing up the legal system. The Gov. would save billions by not having to process income taxes, and it would eliminate payroll taxes so companies would have more money to spend boosting productivity, while people will have more money to spend which in turn creates more jobs. Thoughts? |
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Meryl
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Not deductions, deductions require the income tax-A National sales tax. It would benefit the poor-
say the sales tax was 20% - with the current system say you take home $1000 a month
current system you pay about 1/4 of you check in taxes,
1000 *1/4 = 250
this leaves you with $750 to spend-
then you pay sales tax on what you buy say you save $150 and spend $600 in goods & pay 7% sales tax on that-$600*7%= $42
$250 +$42 =$294 in taxes-$706 left from check
Flat tax you receive $1000 no income tax this allows you to spend more, $1000-$150 to save leaves $850 say you spend the same on goods $600 in goods/services *20%= $120
so with the current system you'd have $706 to spend - Fair tax even with 20% income tax you'd have $880. With this example that's $174 difference, that's $2088 a year you didn't have before!
It would benefit those on gov. programs because those who are rich and buy $7,000 TVs will have to pay $1,400 in taxes. They'd make up the difference, taking the burden off the poor. and what this country would save in eliminating tax evasion would pay for all welfare/gov assistance programs & then some. We lose billions and billions, how much money do you think the black market brings in? They may not collect checks but they sure as hell buy stuff. The current income tax laws were not even ratified by all the states. |
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ed
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I agree if it was written correctly.
There should be a flat deduction for everyone.
Dick Army, ex Rep. Tx., proposed a $30,000.00 deduction for every taxpayer, regardless of gross income.
This would have exempted anyone earning $30,000.00 or less. Any amount exceeding that figure would be taxed. No deductions for the all the perks and hidden benefits that are allowed.
The Realtors opposed this, saying that we would lose the deduction for interest on homes.
HUH? How many people pay $30,000.00 in interest per year on a mortgage, or even have that much total deductions?
There would still be payroll deduction, but the book keeping would be minimal.
IRS would no longer exist. CPAs would not be needed for tax returns.
Not one other Congressman has ever endorsed the proposal. A flat tax would hit them as well as the wealthy the hardest. End of that proposal.
National sales tax would hurt the poorest, who may pay no tax or less income tax than a sales tax would take from them. It would also hit those on low, fixed incomes, who may not pay tax, and welfare recipients.
The estimated sales tax would be around 20% on purchases. |
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Ylyssa
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Different and risky... Opposed.
Not for being different or risky, just that it wouldn't have a chance in hell of making it through congress without the same loopholes added in that make the current tax strategy worthless.
Republicans in charge. Houses, cars, business expenses will all receive exemptions by the time all is said and done and we'll have what exists currently. Remove everything added to the original tax law proposition and you'd end up with the identical proposal from the consumer end. NO. Reboot, and strip all the loopholes added to the original tax laws and they work just fine.
Based solely on opinion due to tax law complexities for the extremely wealthy, and darkness laws to hide what goes on. |
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Judy1
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It would be good for me personally, but I don't favor it since it's regressive - low income people, who now don't pay any income tax, would be paying this tax.
The one really good thing about it, though, is that it would hit the people working under the table - and no, that's not just immigrants, legal or illegal - the underground economy is HUGE and includes many USA natives. |
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MC
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to bad it won't ever happen..... |
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Babi
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Is this the same as general sales tax?
In Hungary we have to pay for both the income (18-36%) and this (20-25% of the product's price).
Are you sure it's better so? I'm not sure if the poor buy fewer products. They just buy cheaper ones... So perhaps it would be good for the wealthier people, and actually it would mean a bigger burden.
Also, as a consequence prices would increase a lot...
These are just thoughts; the governmental bureaus probably have studies about it, so let them make the decision. |
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bluffmike
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Sounds good, but anything that sounds too good to be true, usually is. |
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Scott K
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No. There is nothing "fair" about a national sales tax. It is the most regressive income tax of all. Someone living off $25K a year shouldn't pay the same tax as someone making $250K a year. |
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irongrama
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The poor spend a much larger percentage of their income on sales taxable items than the wealthy do. This would be a regressive tax, with a much greater burden on lower income people than higher. |
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DaMan
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Doesn't matter if I support or not.
The Fair Tax sounds good in theory but you fail to realize that government is built on the back of its citizens.
The government likes the income tax because its get its money off the top and in a relatively short period of time. If you work, there will be withholdings and the government gets its due. As long as people are employed, the government in turns gets a consistent and dependable stream of revenue (and cash) from employers.
However, under the Fair Tax option, the cash flow stream the government gets is less predictable -- it will totally be based on consumer behavior which is rather fickle and unrealiable. The tax (percentage) will also be a function of the prices the retailers charge for their goods/services which are highly violatile in competitve markets.
Finally, the Fair Tax will be tougher to enfoce because the government will have to deal with the seemingly endless # of retailers out there who must remit their money to a federal depository. There are far less employers than there are retailers (and entrepreneurs), so the federal government rather stick with what is dependable. |
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AndrewTaxService
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I'm not sure that would be the best thing to do. It's to my understanding that the sales tax is a major revenue source for the states, and that this money does not go to the federal government. Income taxes are one of the biggest, if not the biggest, sources of revenue for the federal government. So taking away sales taxes would actually make the federal government lose money unless the idea is to have the sales tax now belong to the federal government. If that is the case, then the states will have to find other means of revenue to replace their sales tax revenue. What are your thoughts on this? |
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