Political, but on topic- Boaters respond to proposed IRS changes
 

On 13 Mar 2006 06:36:41 -0800, wrote:



Our entire tax system is an excellent example of government run amuck.
When the income tax was first introduced, the rate was about 1% of all
income. Pretty simple.
Now the tax law fills an entire bookshelf, and is used for social
engineering. Many people pay about 50% of their income to the
government in a combination of federal, state, and local taxes- and the
"self employed" pay more when the additional 7.5% for FICA is added in.


One correction... even with the additional 7.5%, self-employed people
don't pay nearly as much as the rest of us. They have infinitely more
chances to take advantage of the tax code in an unscrupulous way, and
they do just that.

Every one that I have any personal knowledge of has cried bloody
murder when they have to pay taxes, but then when you look at what
they are paying compared to their income, it's a joke. They typically
pay what tiny amount they feel they can get by paying, while the rest
of us have little choice in the matter... it's already gone when we
get our checks.

My wife's a CPA, and has considerable personal knowledge in this...
don't get her started! :-)

Jack

Political, but on topic- Boaters respond to proposed IRS changes
 

"Fred Dehl" wrote in message
...
"NOYB" wrote in
ink.net:

The other proposal that came out of that think-tank was about getting
rid of much of regular home mortgage deduction for houses over a
certain amount. I am very much opposed to that idea, as people such
as myself have structured our budgets around that deduction.

That country's mindset is f$cked up whose citizens must structure their
budgets around the whims and fancies of politicos' tax policies.

Really? What if the politicians decided to raise your marginal rate to 75%?
Could you still live the same way as you live now?


You're at the whims and fancies of the politicians and don't even realize
it.