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Why Do You Submit To This, America?
The Market Ticker ^ | 7/6/09 | Karl Denninger

Posted on 07/06/2009 5:25:40 AM PDT by FromLori

Tax refunds are now being "delayed":

ATLANTA (AP) - Colin Daymude was out of work last year after his business failed and eagerly filed his taxes in mid-January, figuring he'd get his refund sooner. He was wrong.

It took the 44-year-old entrepreneur more than six months to get his $1,300 check—money that he needed to pay living expenses while he worked a few side gigs.

Let's be clear: this is not the state's money.

You do not owe more than your lawful tax amount. If you overpay, the state has the obligation to refund that amount as soon as it is reasonably able to process your documentation.

IT IS NOT THEIR MONEY AND HOLDING IT IS THEFT BY CONVERSION SO LONG AS ANY OTHER STATE EMPLOYEE, AGENCY OR VENDOR IS BEING PAID.

Some states even admit to this practice:

Some states say plummeting tax collections drove them to hold on to the money so they can make ends meet. Others complain of not being able to keep up because the economic downturn has forced staffing cuts in revenue departments.

Being backlogged is one thing, but intentionally holding your funds is unlawful. If you do that as a private citizen you are subject to a criminal complaint and, for the amounts commonly at issue, it is a felony.

Let's cut the crap right here and now: If states are unable to make ends meet then they have to either raise taxes or cut spending. Period, end of discussion, full stop.

The States bought into the "blue sky" belief of property values rising at 10% forever, which is mathematically impossible. In return they took what were solid middle-class jobs and gold-plated their pension and medical benefits, along with "automatic" escalator clauses for wages, all driven by labor unions.

You, the American taxpayer, put up with this crap. You have further allowed the Federal Government to get away with mandating "benefits" for illegal immigrants, including free medical care, free schooling, food stamps and other handouts along with subsidized housing. All of this is under the guise that "Americans won't do those jobs."

Oh really? Unemployment is officially at 9.5% and U6, the broadest-base, is over 16%. Among our youth, the typical job base for these entry level and unskilled positions that involve physical labor, unemployment is more than 20%.

There is absolutely no shortage of available American workers.

We are bleeding the states and federal government dry by continuing to subsidize businesses who pay illegal immigrants under the table - we not only grant them direct federal and state assistance but we don't even collect tax revenue from them!

If you are over-withholding - that is, if you have more being withheld from your paycheck or you are paying in estimated taxes more than your actual liability at the end of the year, and have been granting a zero-interest loan to the government of your money in the belief that you'll get a "big refund", STOP THAT RIGHT NOW!

Change your withholding so that you either get an extremely small (e.g. $100) refund or owe a very small amount of money (e.g. $100) come tax time. If you have any sort of employment and tax history you should be able to easily figure out what your "usual" refund is every year, and if you spend 5 minutes with the tax tables (your employer has a copy!) you can easily discern how many allowances you must add or subtract to get in that range.

If you are slightly under-withheld you may pay a penalty but it will be small, since it is only assessed on the actual under-withheld amount, NOT on your total tax liability.

DO NOT allow this sort of outrageous nonsense to continue in your personal life. You've been screwed blind by the robber barons in the banking world, and now the state wants to play the same game?

JUST SAY NO!


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: denninger; economy; taxrefunds; ticker
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1 posted on 07/06/2009 5:25:40 AM PDT by FromLori
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To: FromLori

Lady, I’m trying to go to bed.

But KD’s on a roll!

Btw, how ‘bout that GS thingy? That should be fun-a-licious!!!!

:) Thanks for keeping up with the rascals.


2 posted on 07/06/2009 5:30:02 AM PDT by Daisyjane69 (Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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To: Daisyjane69

lol government sachs lots of fun sleep tight!


3 posted on 07/06/2009 5:34:33 AM PDT by FromLori (FromLori)
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To: FromLori

Just more of the arrogance of power. They agressively go after your money, but selfishly refuse to give back our money, or even pay interest.


4 posted on 07/06/2009 5:37:13 AM PDT by Leftism is Mentally Deranged
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To: FromLori

and before I go, let me just say the overseas stock markets were taking a rather impressive DUMP an hour or so ago. LOL

Nothing like that ol’ Hope and Change!


5 posted on 07/06/2009 5:37:23 AM PDT by Daisyjane69 (Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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To: FromLori

Why does America submit to this?
You know why.


6 posted on 07/06/2009 5:39:04 AM PDT by 668 - Neighbor of the Beast ( Happy birthday Mr. President!)
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To: Daisyjane69

Wait until our markets see those new jobs reports 666 again?


7 posted on 07/06/2009 5:40:42 AM PDT by FromLori (FromLori)
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To: FromLori

Filed my state taxes April 10. I am not even shown in the online system yet!
Called and called, finally got a human on the line— and was told it could be 5 months before I get my $2100.00 refund.


8 posted on 07/06/2009 5:50:37 AM PDT by cycle of discernment
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To: FromLori
Let's be clear: this is not the state's money.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

I was a professional running a welfare health clinic in Ohio in the early 80s. They would hold payments to the office for 6 months or more. Occassionally I had to call my state rep and beg him to get the state to release some money.

It was hell on earth.

Then when I sold the practice and moved to another state, Ohio somehow “lost” $2,000. I paid to have my former staff file several times and each time the state “lost” the paperwork. Finally, they said that since it had been a year since treatment, that I would need to **personally** appear for each patient individually. Of course, I gave up. The big stick that these state workers had was doing an audit on all my previous work. That would have been a nightmare!

To put $2,000 in perspective, a new townhouse in my area would have sold for about $30,000. So....$2,000 in 1983 was a significant amount that was about 8% of what I then owed in school loans.

9 posted on 07/06/2009 5:51:22 AM PDT by wintertime (People are not stupid! Good ideas win!)
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To: 668 - Neighbor of the Beast

Yeah, I’ve basically given up asking why. I know why and the vast majority doesn’t seem to care anyway. Theoretical principled arguments get tiresome after awhile.


10 posted on 07/06/2009 5:52:59 AM PDT by jr.ewing.78
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To: cycle of discernment

Ridiculous. Aren’t you owed interest?


11 posted on 07/06/2009 5:53:29 AM PDT by randita
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To: randita

One would think...and yes Illl hammer that.


12 posted on 07/06/2009 5:58:53 AM PDT by cycle of discernment
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To: randita

People are going to pay more attention and set their with holding properly so the government doesn’t have their money in the first place. If they don’t collect it, they can’t refuse to give it back.


13 posted on 07/06/2009 5:59:02 AM PDT by ltc8k6
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To: FromLori

BTTT


14 posted on 07/06/2009 6:00:40 AM PDT by PGalt
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To: randita

(I’m looking at 5 months to get my return...here is what is online at Georgia department of Revenue)

From the Georgia Dept of Revenue website:

Refund Processing Schedule

In our continuing effort to provide up-to-date information to our customers, the latest refund processing schedules can be found below. The department has had to join other state agencies in reducing its budget resulting in a nearly $12 million dollar reduction or 10%. In order to attain the reduction the department terminated 18% or nearly 280 positions since October of 2008; 155 of these positions were in our processing center. We have hired 70 additional employees in the last two weeks in our processing center which should increase the number of returns we process each week. Thank you for your understanding and patience.

We are currently working paper returns received between: April 1st – April 6th
Refund checks for these returns will be mailed between: July 7th – July 14th

Paper returns received prior to April 10, 2009 will complete processing within 10-14 weeks.

Paper returns received after April 10, 2009 will complete processing within 14-20 weeks.


15 posted on 07/06/2009 6:02:40 AM PDT by cycle of discernment
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To: FromLori

Move to Texas. We have no state income tax. ‘nuff said.


16 posted on 07/06/2009 6:14:07 AM PDT by erkyl (We hang the petty thieves and appoint the great ones to public office --Aesop (~550 BC))
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To: FromLori

A good rule of thumb is to never send in with holdings, period. Run your own “S” corp and opt for a low salary on which your FICA payments are based. I’d much rather owe “them” than they owe me.


17 posted on 07/06/2009 6:15:36 AM PDT by Big_Harry ( Thank God I am an "Infidel"!)
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To: ltc8k6
Well the Income Tax Ammendment was UnConstitutional from the beginning. Even Will Rogers had said it was unrivaled at turning Americans into liars. It is impresive that it has taken 100 years to die. I believe what we will see in the next few years is a "drying up" of jobs that provide the income that is taxed. I know that in spite of windfalls the gummint is recieving from me as I "position assets" to weather the storm I see coming (and I am pretty certain I am not alone in this) tax revenues are down this year. What will they be next year when the windfalls they got from folks like me this year are gone? The 10% drop they see this year will be "the good old days" next year.

Things that are unreal can not long maintain the illusion of reality and the Income Tax has been one of the largest hoaxes in human history. We will never have a law that ends Income Tax it will just become irrelevant as there will be no (or very few) incomes to tax. What will our gummint masters do at that point? They will have few options and so we can look to the Third World to see what our future will look like. Prepare for corruption that will make "the Chicago Way" seem like a priesthood in comparison.

We have been talking about boiling frogs for years but this pot is really quit different. There is an intersection of two divergent lines here. At what point does an institution (our military?) step up and say "enough"? Or is there a point at which folks actually pick up pithforks and torches? I know many of us here at FreeRepublic beat our chests and proudly proclaim various thing (myself included) but will it happen? Will it be enough? Massive uncertainty there.

Μολὼν λάβε


18 posted on 07/06/2009 6:18:53 AM PDT by wastoute (translation of tag "Come and get them (bastards)" and the Scout Motto)
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To: Big_Harry

But if you are not self employed and they take it out of your check you can’t do that right? I wanted to have my husband change the with holdings but then I worry about getting the fine.


19 posted on 07/06/2009 6:20:47 AM PDT by FromLori (FromLori)
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To: FromLori

Slave mentality. The want-something-for- nothing crowd.

Most people would prefer living as governmental slaves than free people.

obama, the Democrat Party, and media love people such as this.


20 posted on 07/06/2009 6:21:48 AM PDT by sport
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