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I\u2019ve just about finished mine and as expected, I will be once again chanting \u201cI Owe, I Owe, it\u2019s off to the IRS it goes!\u201d As usual, I\u2019m going to get hit over my investment portfolio. Obviously, I\u2019m not going to tell you what I made. I\u2019m sure some phony house committee will be more than happy to leak it to the Mostly Stupid Media.<\/p>\n
While I do itemize, once again the Standard Deduction will be the better deal for me. However, dealing with all the investing stuff is a royal pain in the ass, especially the few stocks I have that are in foreign companies. Obviously, I\u2019m going to wait until the last possible moment before I send Fedzilla any of my money.<\/p>\n
As I have for the last <Censored> years, I bought Intuit\u2019s TurboTax<\/a>. I keep thinking I should use a different program, such as H&R Block<\/a>. However, I was able to get this years taxes done in less than 3 hours. The fact that I have to spend this much time and money to stay out of jail is annoying. It\u2019s long past time to scrap the current tax code and just start over from scratch.<\/p>\n There are those who like to push what they call the \u201cFair Tax.\u201d This is a national sales tax and is expected to run about 30% of the purchase price of anything. Obviously, this is going to hit those who don\u2019t have a lot of money the hardest, and it will cause the black market of goods and services to explode. (If the Feds think they have a problem with illegal drugs, wait until people find ways to avoid paying a national sales tax)<\/p>\n The \u201cNational Sales Tax is, allegedly, meant to replace the income tax. That is just a sick joke. It will be added to the income tax. No, I\u2019m in favor of a flat tax. This is almost as complicated as the fair tax in some ways, but also much simpler. You could have one big deduction, say the first $30K of your income, indexed to inflation as your deduction. After that, you pay say 5% Basically, if you make $50,000, you would pay 5% of $20,000. Obviously, the actual numbers need to be carefully checked.<\/p>\n It would also require major cuts in government. Basically, if it isn\u2019t a constitutionally mandated expenditure, close it down. I don\u2019t see this or the UnFair tax being adopted. The politicians have to much invested in the current tax code to just toss it and start over. I do have one thought. Has anyone ever challenged the actual tax code?<\/p>\n I, personally, think that the current code can\u2019t be understood and has many parts to it where if you obey one section, you are violating another. It also is impossible to understand. Even the IRS doesn\u2019t understand it and it\u2019s their job to enforce it. I think it would be an interesting case to bring. Imagine the panic in Congress if they had to write a new tax code from the ground up?<\/p>\n Well, as I said above, I owe money. No refund for me, although I\u2019m good with that. A refund is nothing more that the government repaying their no interest loan you gave them. I set my withholding to the lowest levels I can and invest it. I may have to send some in, but I still come out ahead. In the mean time, how about clicking on the amazon links and buying stuff? Any of the links below will take you to amazon and you can search around for something interesting like a Larry Correia<\/a>, Tom Kratman<\/a> or Michael Z. Williamson<\/a> book. Help me pay off my tax bill.<\/p>\n Thatisall<\/p>\n ~The Angry Webmaster~<\/b><\/i><\/p>\n<\/a><\/p>\n<\/p>\n<\/p>\n<\/p>\n (2<\/strong> votes, average: 5.00<\/strong> out of 5)
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