Cary Posted February 20, 2014 Posted February 20, 2014 Don't kid yourselves - A large percentage of those people that get back big checks from the government aren't taxpayers, they are taxTAKERS. Their tax liability is $0, but they get back thousands in "Earned Income" tax credits, etc. As for me, I like to get back a little, just as an incentive to get me off my fat butt to file. As for the age-old argument that anyone who is getting back a refund is "giving the government an interest free loan", look at it this way: If a person gets $1,000 dollars back, at current savings account interest rates, they've missed out on less than TWO DOLLARS in interest.
diablo175 Posted February 20, 2014 Posted February 20, 2014 Frankly, I have no idea how it's gonna pan out. My wife is the bigger earner but she was out of work from August thru early Dec. Then, depending on how the market did and how our investments fared, that, too will influence how we get hit this year. That said, IF we get a refund, I'll lobby to use any such return to pay for some Hamer mods currently going on.
coolfeel Posted February 20, 2014 Posted February 20, 2014 The code is intentionally confusing... However, some would argue the federal income tax "was" supposed to apply only to employees of the federal government or are a resident of the District of Columbia. There are people who spend the greater part of their lives trying to educate others on how this works... Time to pick up a Hamer and burn some scales!
Studio Custom Posted February 20, 2014 Posted February 20, 2014 Don't kid yourselves - A large percentage of those people that get back big checks from the government aren't taxpayers, they are taxTAKERS. You mean like General Electric?
Cary Posted February 20, 2014 Posted February 20, 2014 Don't kid yourselves - A large percentage of those people that get back big checks from the government aren't taxpayers, they are taxTAKERS. You mean like General Electric?You will have to be more specific. If they get a special deal due to their influence on Congress or the White House, then yes, them too. Then again, there's a big difference between not taking something from someone, and giving someone something that you took from someone else. Both sides have their constituents who get the spoils, and most of us are just the poor slobs that have to pay so the politicians can use our money to stay in power. EVERYONE should be paying their fair share; the devil is in the details of what that "fair share" amounts to. We're probably in danger of getting political, so I will leave it at that.
coolfeel Posted February 20, 2014 Posted February 20, 2014 A general thought - some folks believe they can spend your money in wiser ways than you can. I am not a part of that group. There is a hint of narcissism in a belief that you have a right to someone else's "insert your own word here"... Time to break out the Custom Chap and shake some shit up in this beatch...
Cary Posted February 20, 2014 Posted February 20, 2014 To paraphrase Cynic, 'what is this "Refund" of which you speak?' We are in the real estate rental business. I had a guy yesterday that was getting a large tax refund and wanted to pay the rent 6 months to one year in advance once it came in...that's some tax refund! Loan the gub'ment cash all year long - interest free! and use the repayment of principal to prepay an interest free obligation? Financial genius! Actually, I give the guy credit... He's ensuring that his basic need for shelter is taken care of FIRST. He could have blown it on a Plasma TV, XBox One, Budweiser and Kools, but he didn't. He may have been able to make a LITTLE interest off the money, but he also may know if he keeps it, he will blow it or risk losing it on an investment. Maybe he's in a job with an uncertain income; this way he knows he at least has a place to live. I wish more people in this country were this responsible, ESPECIALLY 536 or so in Washington DC..
hamerhead Posted February 20, 2014 Posted February 20, 2014 .......but he also may know if he keeps it, he will blow it or risk losing it.......Why I buy guitars.
django49 Posted February 20, 2014 Author Posted February 20, 2014 ^^^ Money cannot buy happiness. But it CAN buy guitars. That is almost the same thing.
conorb Posted February 20, 2014 Posted February 20, 2014 ^^^ Money cannot buy happiness. But it CAN buy guitars. That is almost the same thing. But it can buy a jetski. Never seen anyone upset on a jetski. I get upset playing guitar all the time. conorb
Cary Posted February 20, 2014 Posted February 20, 2014 "Money can't buy happiness, but it can buy a boat big enough to sail right up next to it" - David Lee Roth
ZR Posted February 21, 2014 Posted February 21, 2014 Some, interesting points. Sorry if I went off on an angle that took it off course, but then again I like the conversation.I ran a paint contracting biz for over 25 years. Sometimes guys would give me money to hold for exactly the reasons some of you mention; basically as an interest-free savings plan. Interest on savings accounts are basically nothing as they are near or are at historical lows. If the money was in the stock market they could have earned 20-40% last year alone but of course many people don't do stocks/mutual funds.Anyway,Good luck with the sale!!
Cary Posted February 21, 2014 Posted February 21, 2014 Some, interesting points. Sorry if I went off on an angle that took it off course, but then again I like the conversation.I ran a paint contracting biz for over 25 years. Sometimes guys would give me money to hold for exactly the reasons some of you mention; basically as an interest-free savings plan. Interest on savings accounts are basically nothing as they are near or are at historical lows. If the money was in the stock market they could have earned 20-40% last year alone but of course many people don't do stocks/mutual funds.Anyway,Good luck with the sale!!Everyone should. Everyone should have a retirement fund, but it takes discipline which a lot of people lack, unfortunately. The growth of mine actually exceeded my gross salary last year.
Sugartune Posted March 2, 2014 Posted March 2, 2014 If you decide to clear any of those other Newports (what ones?), I may be interested.
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