Is anyone else embarrassed by how little income tax they pay?

[peg2001]

Ok, maybe embarrassed isn't the right word but here's the situation. I work in a small office and all of my co-workers are in dual-income families with no children or one child. So, their family incomes are 2 to 3X my income with fewer dependents.

Every year, about this time, the moaning and complaining about income tax starts. I understand that they probably pay a big chunk and I don't begrudge them the opportunity to complain. However, my family of 4 does not pay much income tax so I don't really know how to respond to their tirades. It seems insensitive to remark "Oh really? I don't pay much at all." but untruthful to say "Yeah, I know what you mean."

If there is ever a time to be thankful for a small salary and many mouths to feed, it's tax time!

Peggy

 

[AirForceRocks]

Not embarrassed at all. We're a family of four also, and I feel like we pay plenty in federal income tax.

 

[wuv tigger]

I am universally envied in my office because I pay so little taxes.

I prefer to finance my house (big mortgage in my area ), my retirement (Max out each year), and my favorite charities (10+% of my income) instead of the Govt. This year we also got helped by the child credit and my adoption credit from DD#2. I have 12 exemptions from my paycheck and am still getting back everything I had withheld plus $1,200.

I would actually prefer to pay more taxes. One year my boss paid more in taxes than I earned in salary . Now that would be an income worth paying taxes on!!!

David

 

[GoofItUp]

I wouldn't be embarrassed at all! DH and I are DINKs (dual-income, no kids) and pay PLENTY in taxes (despite having enough deductions to itemize -- charitable giving, mortgage, etc.). However, that's a choice we have made. I guess if I didn't want to pay taxes I could quit my job to cut down on them, but then we wouldn't have the disposable income we do, either. The government gets way too much of our money, but that's hardly YOUR fault!

The one gripe I have however, is when people don't pay taxes but do get money back. In this scenario, other people are getting my money because of choices they've made -- kids, charities, mortgages, etc. Isn't that kind of like socialism? Still, I'm not blaming individuals, that's because of our government, too......which is why I fully supported Bush's tax cuts even for the
"wealthy" like myself!

 

[hipporina]

Wuv tigger - how are you getting back more than you paid in?

This year I am wishing we had paid in more becuase we will be getting back everything we paid in. We adopted 2 kids this year through CPS so that is $20K in credit right there. Plus there are 4 of us now, one taxable income (we don't pay taxes on the subsidy we receive for adopting the boys), and dh does not make much (he does social work). I just wish we could get more back so we can do some stuff we really need to do with it.