Posted on 04/24/2023 7:22:49 AM PDT by Twotone
Nothing symbolizes the slave/master mentality that too many Americans have toward government than this reliance on this "refund". Dummies, that's your money your government overlords are giving back to you at no interest to them. If you learn to manage your finances better throughout the year, you don't need to rely on this refund like every year like a baby bird with its maw agape waiting impatiently for the next worm.
We need to abolish the federal income tax.
USA got along just fine for two hundred years without it.
“Duh, that’s simple.
The child tax credit decreased from $3,600 or $3,000 to $2,000.
At the same time, the IRS Changed the withholding tables to make people were mak8ng more money.
The new w-4 forms suck. This is where you tell your employer what to withhold.”
____________________________________________
100% spot on!
Something is building towards a no good end in our economy. Locally, our small town just had a local clean-up trash day at a local town park and vicinity. They hired an empty dumpster for it and had it delivered to the park the day before the volunteer clean up and by the next morning it was packed FULL of broken furniture, appliances, old tire, rusty metal and general garbage by unknown ?locals. No surveillance cameras near I think they said. Unhappiness all around besides those who got rid of their junk. Some commented that this was slightly better than whoever dumping it all on the side of a road or in woods somewhere.
I concur! That would move Inauguration Day to Independence Day - big national party!
Those people are undisciplined.
“Try paying quarterly tax”
I have often thought that for one year, all withholding should be suspended, and the workers should just submit quarterlies. Democrats tell us that the workers are far more virtuous than the bosses, so there should be no problem, right?
It’s not always “your” money being given back. Many times it’s “my” money too.
The Earned Income Tax Credit (EITC) is an income redistribution scheme.
-Nationwide during 2022, 31 million eligible workers and families received about $64 billion in EITC
-The average amount of EITC received nationwide was about $2,0431
While a compassionate thought, the EITC just creates a new bunch of gimmedats.
EC
I had to write the big check this year, again. Normally having the extra money during the year to invest is helpful. Under the Biden regime, that wasn't necessarily a good thing, sadly.
I had to write a big one, as well. Most of my income was dividends and interest so no withholding.
Refunds were down after the Trump tax cut, due to more accurate withholding. Almost everyone’s taxes were lower, but IIRC the legacy media spun it as Trump taking money from poor people.
TOTALLY agree with that!
What we need is elimination of the Taxes.
Since that horse left the barn the c automatic tax withholding should be elinated.
All real taxpayers would suddenly upstand what government theft really looks like.
THEN have the taxes due the day before the Constitutionally valid election.
The IRS doesn't control the refund nearly as much as the individual taxpayer does. There are multiple factors that are in play:
Gibmedats are getting less in freebies
Incomes could be down
Taxpayers could have adjusted their withholdings
Tax cheats could be a little more scared
Tax laws have changed
The scariest part is that people who get large refunds, after filing, have over withheld estimated taxes. It always has been their money, they just made it unavailable to themselves and made a free loan to the government for the tax year.
After screwing up on processing tax returns and blaming it on COVID, maybe people are adjusting their withholdings, so the IRS doesn’t have same chance to irresponsibly hold onto money?
Did a preliminary tax calculation using ***** software on January 2 and made an extra quarterly estimated tax payment on January 10 to cover the expected tax due amount.
Nailed the final tax due amount on April 15 to within $150. No penalty and no interest.
There is no reason or need to overpay taxes.
Good point. All part-and-parcel of this country now having more moochers than producers. A producer’s strike and a trip to Galt’s Gulch never sounded better.
Gave them 54 dollars this year which made me happy to just about break even. My guess is the ref were down because some “benefit” was reduced. I am still beyond outraged that some refunds exceed what if anything was paid in. Those should be called federal welfare or grants, not refunds.
A friend in another location reports they had a free dump your krap event and 950 cars queued up to unload garbage
An hour and a half wait.
And yes, it’s a great deal better they all did that. Instead of just tossing thrur trash out on the streets like many people normally do
These are the same people who get all giddy about voting for some politician because they promise to give them something “for free.” Just once I want to see those clueless leeches forced to knock on their neighbor’s door and tell them why they’re obligated to give them some of their money. Remove the government smoke and mirrors and the average moron would be shocked at what is really happening in that “free stuff” transaction.
Of course, the urban-dwelling “gibmedats” wouldn’t care anyway; they’d just consider it “reparations.”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.