Tax return is nearly $3000 LESS because I worked part-time last year!

[Muushka]

Why not?



Because it has been determined that an educated public is a good thing for everyone.

Because we have chosen to make many extra payments on our house so that the interest is not high enough to bring us to the point where we can do the long form. Yup, I made that choice.

OK so if it has been determined that an educated public is good for everyone, why is it that the renters do not have to contribute towards it and just homeowners? Why can't just the people with children pay for it?

My response had more to do with someone having a problem with people who pay interest getting to deduct the interest on their taxes. Just to show that there are many things that are not fair in this world.

 

[marlynnp]

I am a homeowner and do not get to write off one penny that I pay in interest OR real estate taxes.

And no children. Yet a good portion of my real estate taxes goes towards education.

And yet the renter does not have to pay any real estate taxes and yet has children in the school system.

Why is that?

Seriously???

I am always amazed that anyone is so short-sighted to believe that argument.

The renter pays real estate taxes, the mortgage, etc.
It would be a piss-poor landlord that did not have a property that generated enough income to cover those expenses.

 

[Muushka]

Seriously???

I am always amazed that anyone is so short-sighted to believe that argument.

The renter pays real estate taxes, the mortgage, etc.
It would be a piss-poor landlord that did not have a property that generated enough income to cover those expenses.

You know, you have a point. I never thought of it that way. I retract my statement!

 

[marlynnp]

nevermind

 

[kamik86]

Because we have chosen to make many extra payments on our house so that the interest is not high enough to bring us to the point where we can do the long form. Yup, I made that choice.

OK so if it has been determined that an educated public is good for everyone, why is it that the renters do not have to contribute towards it and just homeowners? Why can't just the people with children pay for it?

My response had more to do with someone having a problem with people who pay interest getting to deduct the interest on their taxes. Just to show that there are many things that are not fair in this world.

Because assuming my landlord isn't being really stupid in running his apartment business my landlord is charging me my portion of the property taxes for the part of the property that I rent. He just is the one that gets to hand it to the IRS.

Although that does mean the IRS is double taxing that money... since the landlord is getting taxed on the income from me that is for the property taxes...

 

[Muushka]

nevermind

Thank you for reading my response! It is pretty rare that someone on the boards admits when they say something wrong. I did! Thank you for reading it! I hope more will

 

[marlynnp]

Thank you for reading my response! It is pretty rare that someone on the boards admits when they say something wrong. I did! Thank you for reading it! I hope more will

I hope they do too!

And hopefully you feel better now that you know renters pay their fair share too!

 

[Muushka]

I hope they do too!

And hopefully you feel better now that you know renters pay their fair share too!

Yes, yes I do!

PS you know when you get an email with the new addition to the thread, I saw what you wrote. I was so proud of you!

 

[sam_gordon]

No, that's not the question at all . . .

This came from the story about the 10 guys in the bar, one of whom is picking up the majority of the check. Someone else said he's the employer and SHOULD buy "his guys" a beer. The question IS NOT about whether he's paying a fair wage or not -- that's a whole different issue. The question, as it pertains to taxes is whether he owes the employees anything above and beyond the salary that was agreed upon when they started working for him.

But one could make a couple arguments...
1) If people were paid more they wouldn't qualify (or "need") for the "handouts".
2) YOU brought up businesses owners owe their employees a "fair wage". I agree.

However, what determines "fair"? Hence, my comment about asking people if what they make is "fair". Yes, employees agreed on a rate when they got hired. But, maybe the employee was desperate to have ANY paycheck to come in. Or maybe it was a fair wage to begin with, but that was years ago and the employee never got a C.O.L. increase in YEARS. So is that wage still "fair"?

 

[sam_gordon]

As far as stopping the abuse; I think it may take extra money up front. I think we need to create more jobs similar to an auditor. If people are getting financial assistance, they need to be audited to make sure they are not lying, still need it, and are putting it to good use. I have a friend that is the manager of the housing project. She knows so many families where the mother and father don't get married so the mother can get welfare money and stay home with kids. When I go by the projects I see many people with brand new cars while mine is 6 years old. If they can afford brand new cars should they even be on public assistance? I'm not talking Hyundai Elantra's...I am talking BMW, Mercedes etc. If people want to accept financial assistance they need to be willing to accept audits just like the IRS. Welfare/Food Stamps should be similar to WIC in that it tells you exactly what to buy. You can't take your food stamps and buy $100 worth of candy. Those are just a couple of things I have thought of.

I agree with you. However, the EIC is simply a credit if you make below a certain amount of money. Now, you can argue you shouldn't get a REFUND if the credit is more than what you owe. I could go for that.

 

[ohlas]

has to be...along with financial aid for college, grants, reimbursement from the state for families that have children w/ special needs and the list goes on. I say off with their heads!!!!

no its let them eat cake dear...

 

[princesspeach]

no its let them eat cake dear... lol as far as how do i as single mother make it work thats hard one but i did help my gf by watching her child for free when she went to night school...there are lots of ways to work thing out u just have to think and work it out.. my husband and me have had opposite work schedules for a time. my kids have hardly been in day care, we got a local old lady down the street from us that we payed to watch the kids for the 1.5 hour over lap in our work schdule.

It not easy to pull your self out of poverty i know i have done it and im not done all the way i want to be one of the over 200k tax payers muahahahah

All most of the people that dont get refunds and have to pay real $$$ in taxes even after credits all we want is it to be fairer....

if you make 10k you pay 1k in taxes then if i make 30k i pay 3k not if you make 50k you get 3k refund and i make 150k so i pay 15k wheres my 12k refund....

 

[ohlas]

srry princesspeach 3 glasses of wine and written english gets worst still working on it...

 

[snowywhite89]

The one that gets me is the different treatment of different types of income. I do a relative's taxes who has about the same household income as we do, but he pays MUCH less in taxes despite fewer deductions because his income is all unearned (rent, interest, dividends) and earned income is subject to social security as well as income taxes. Add to that the fact that DH is self employed and pays both halves of the SS tax and our effective tax rate is more than double that of our relative.

Your dh can write off business expenses as the owner. Don't you also have a home you rent out?

 

[snowywhite89]

I agree with you. However, the EIC is simply a credit if you make below a certain amount of money. Now, you can argue you shouldn't get a REFUND if the credit is more than what you owe. I could go for that.

I am not a huge fan of having tax write off but since they exist they should only be able to reduce your tax burden to 0. I have a huge problem with giving extra.

 

[Acklander]

Here's a key point... what's the definition of "fair wage"? I'm guessing if you ask working people up and down the wage scale, the majority would say they should get more money for what they do. To say nothing about the poor schlub who lost his job after 20 years, not because he was doing a bad job, but because the company owners decided to move the company out of the states because of cheaper labor.

For the sake of this thread I'll define fair wage as, if you work a full time job, you'll make enough that you won't qualify for the EIC, so others will stop referring to you as the leaches of society who are personally responsible for the national debt, and are not contributing to society. How's that for a start?

 

[HHSTigerFan]

Wait a minute, I thought minimum wage was raised to a "living wage", how did that work out?? Oh it didn't, it just hurt the economy by raising costs on everything..

 

[Acklander]

Not sure what ability they are describing as well. When I see folks with disabilities (both physical and mental) and they can go to college and graduate well its hard for me to understand why folks state they "don't have the ability".

The reality is, there are some in our society that don't have the ability to do college level work. There's nothing wrong with that, but it is, what it is.
I have a relative who is mildly retarded. I'm sure there's some special program in place that would have "allowed" him to go to college, but to what purpose? It's not like he would have come out as a Dr. or Lawyer or even on management level that would justify the expense of taking out student loans. Instead he was set up with a job coach, that assisted him in getting a job in a restaurant, where he has worked for the last 30 years. He's a valued employee at that restaurant, he receives an occasional COL raise, and is able to support himself just fine.
I also have a son who was smack down the middle average in High School. He's always been an outdoor type who would consider a desk job to be equal to a prison sentence. For him, a college education would have been a waste of money. Instead he preferred to work in a field that allowed lots of muscle and sunshine. For him, it made more sense to sign onto an apprenticeship, learn a skill, and work his way up the ladder that way.
Not everyone is meant for college.

 

[ccgirl]

I agree, "working poor" is really dependent upon local costs of living. I don't consider my family working poor. I was working poor years ago, when I was a single mom working part time and going to school full time, and we're a long way from that lifestyle now. But we have qualified for the EIC off and on in the past and probably will again this year since business has been so terribly slow. We don't get anything close to the maximum credit and we usually get little/no return, though I do prefer overpaying to underpaying on our estimated taxes, but I'm not too proud to take any credit that helps to offset the ridiculous tax bill we pay for the privilege of being self-employed.



It worked throughout most of our history. The idea that everyone should pay federal taxes is a fairly recent development on a big picture level.



There's no value in it. Education is an excellent solution at the micro level - it can help an individual greatly. But it isn't an answer at the macro level because the value of a degree is directly dependent upon its' scarcity. Right now, 33% of the American workforce has a degree and 24% of jobs require one; as that trend continues the value of a degree (with the exception of certain fields effected by a significant skills mismatch) will decline.[/QUOTE]

Bolding mine. I disagree there is no value in it. But, I work in a position that requires a college education. I get paid very well because of it. There is always a value in education though, regarless of the position you hold or the money you make. Your statement does not answer the "why" of not everyone can get an education though. I admitted not everyone "wants" one but that is different than the ability to get one.

Because we have chosen to make many extra payments on our house so that the interest is not high enough to bring us to the point where we can do the long form. Yup, I made that choice.

OK so if it has been determined that an educated public is good for everyone, why is it that the renters do not have to contribute towards it and just homeowners? Why can't just the people with children pay for it?
My response had more to do with someone having a problem with people who pay interest getting to deduct the interest on their taxes. Just to show that there are many things that are not fair in this world.

Bolding mine. I am with you on that one. I pay my property taxes. A portion of my property taxes go toward the public education. My DD is in school but I send her to private school. It's like a double whammy. I have family that live in PA and their property taxes are broken down. They do not pay into the educational system unless they are utilizing it. However, I am torn on this one because I believe every child has a right to an education regarless of their socioeconomic status. At the moment, I think it is a privilege to help those children get an education.

 

[Acklander]

Wait a minute, I thought minimum wage was raised to a "living wage", how did that work out?? Oh it didn't, it just hurt the economy by raising costs on everything..

OK, don't pay your employees a "living wage", instead let the top collect record bonuses, which will result in them paying higher taxes, which will be redistributed to those who claim EIC.