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InvisibleTheHateCamel
Research &Development -DBK
Registered: 01/31/03
Posts: 15,738
Why are there tax returns?
    #3033295 - 08/21/04 06:07 PM (13 years, 9 months ago)

Maybe this is something I should know and have never picked up on.

Why (in America) do they tax our income and then return it to us later?

Is there something benefical behind that?

How would it be any different than not taking it in the first place?

Is it so we get a large amount of money and we then put it right back into the system because we feel like we earned it?

What's the deal?


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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: Why are there tax returns? [Re: TheHateCamel]
    #3033432 - 08/21/04 06:54 PM (13 years, 9 months ago)

They withhold money from your check because if they didnt most taxpayers would spend it all because Americans are very bad at personal finance and budgets. Only the poor ones get money back because they dont earn enough to warrant the taxes that were withheld.

I think that answers your question...


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Offlinedeafpanda
Stranger
Registered: 05/07/04
Posts: 984
Loc: Inguland
Last seen: 6 years, 7 months
Re: Why are there tax returns? [Re: TheHateCamel]
    #3034354 - 08/21/04 11:03 PM (13 years, 9 months ago)

They're just having a laugh.


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OfflineLightningfractal
Nutcase

Registered: 06/24/03
Posts: 14,899
Loc: Heaven and Hell
Last seen: 5 years, 3 months
Re: Why are there tax returns? [Re: TheHateCamel]
    #3035800 - 08/22/04 11:25 AM (13 years, 9 months ago)

Well, I'm surprised no one mentioned that they earn interest on your money all year.


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Hi how's it going, wanna kick Heroin basically painlessly on your own, in your own house, without any government "help" ,or the "help" of a crazy condescending, judgmental medical doctor? Read this:

https://www.shroomery.org/forums/showflat.php?Cat=0&Board=42&Number=7342616&page=0&fpart=all



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Offlinezappaisgod
horrid asshole

Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 1 year, 11 months
Re: Why are there tax returns? [Re: TheHateCamel]
    #3035911 - 08/22/04 12:25 PM (13 years, 9 months ago)

If you get a refund it's your fault for not taking enough exemptions when you filled out your W2 or 4 (I don't remember which). You can always change it. The ideal is to end up with a zero refund and a zero tax due. It's up to you, though, to make the right number of exemptions.


--------------------


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OfflineLightningfractal
Nutcase

Registered: 06/24/03
Posts: 14,899
Loc: Heaven and Hell
Last seen: 5 years, 3 months
Re: Why are there tax returns? [Re: zappaisgod]
    #3036215 - 08/22/04 02:23 PM (13 years, 9 months ago)

The ideal would be to have zero witholding, and create a tax account where you place the same ammount of money which the government would have otherwise witheld.

This way you can earn interest on YOUR MONEY all year.

If taxes are due at the beginning of the year, where does the government get off disallowing you control of your own money all year before taxes are even due?


--------------------
Hi how's it going, wanna kick Heroin basically painlessly on your own, in your own house, without any government "help" ,or the "help" of a crazy condescending, judgmental medical doctor? Read this:

https://www.shroomery.org/forums/showflat.php?Cat=0&Board=42&Number=7342616&page=0&fpart=all



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OfflineJesusChrist
Son Of God
Registered: 02/19/04
Posts: 1,459
Last seen: 5 years, 8 months
Re: Why are there tax returns? [Re: TheHateCamel]
    #3036591 - 08/22/04 04:57 PM (13 years, 9 months ago)

The payroll tax uses stealth means to take your money. If they didn't take it out of every paycheck and then hit people with a bill at the end of the year their would be outrage. The government should give people an itemized list of where their money goes.


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Tastes just like chicken


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