Paycheck Taxes & Deductions (1 Viewer)

[Tim Hoover]

As a person who has experienced both sides of the coin, I have to say that I really don't mind paying my taxes at all. Sure, you have those that will abuse the system for all they can, but that's a price I'm more than willing to accept in order to provide social programs for those working poor who really need them. Right now, in order to cut YOUR taxes, Congress is considering drastically reducing Medicaire, which will make things even tougher for the elderly who are already trying to get by on their already pitiful SS check. In addition, of the 28% of American children who are eligible for Medicaid due to low parental incomes, only about 5% actually received benefits...again, due to budget cuts to relieve YOUR tax burden. I apologize if I'm treading too deeply in political waters, but I'd just like to see some compassion and help for those that really need it, especially the poor who find themselves working their butts off, but still aren't getting ahead due to slashed social programs that would help them get out of poverty.

 

[SteveA]

Do all these kids actually NEED medicaid? Many of their parents might have relatively good health benefits, even if their pay is low.

 

[Tim Hoover]

Steve - allow me to correct myself: the 28% of American children who are eligible for Medicaid due to low parental incomes AND the unavailability of parental health benefits. Somewhere around 95% of these low-paying jobs don't provide any health care at all, or at such exorbitant prices that the parents simply cannot afford to opt-in.

I'll be completely honest and admit that I used to not see the point in paying higher taxes so someone else can receive the benefits. This semester I'm currently taking a course in modern social problems and it's really opened my eyes to a lot of things. I apologize if I sound preachy, but it's something I believe very strongly in now and I have the actual figures from my textbooks to back up my claims...

 

[Dan Mc]

Think you're paying to many taxes? Do what I did: get married, buy a house, and have a couple kids...Doing that (plus the recent tax cuts) has caused my effective tax rate (agi/taxes paid) to go down by about 14 percentage points in the last 4 years.

 

[Mort Corey]

While I'd agree with you point Tim, I stongly disagree with your methods. Taking, by force, and under the threat of jail or death, from one American to give to another, that did not earn it, is immoral. There will never be enough money, nor high enough taxes, for all the good things that government would like to do.

The "government" takes near 60% of my gross earnings in taxes, fees and levies and yet I still manage to help my fellow man through other contributions from what remains. How much more would you suggest I contribute to make life fair?

Mort (who doesn't mean to dog you personally, nor start a war, just presenting the other side )

 

[Drew Bethel]

We are contributing now as other have done before us. Maybe your view of this will change when you hit 80 years of age and find out that your 401k has since dried up.

What I don't like is not having a say (directly) in how my tax dollars are being spent. I think people would be more receptive if they at least had some say in how a percentage of their taxes is divied up. Ex. space explorations, social services, military, etc.

 

[Mort Corey]

A contribution is something given willingly. That others have submitted beforehand is irrelevant to the morality of the situation. What my situation may or may not be at 80 is my problem, and I promise not to burden you with it. Since I have no 401k I won't be worrying about that either.

Mort

 

[Tim Hoover]

The problem here is that not enough people would willingly contribute. They would all assume your position and feel that one person's predicament is his own responsibility and we should not help them out. As for my own personal experience, I was laid-off when my relatively large employer closed up shop to move operations to South America. I put my 50 hours per week in, working extremely hard in the process. You don't think I've earned time to look for another employer?

And one more thing, this concept of EARNING is completely skewed. Many people are working 60+ hours at a low-paying job in an attempt to make ends meet, and many times are not successful at doing so. Federal minimum wage is $5.15 per hour. These people are busting their asses for a weekly take-home check of around $250. Now you tell me who's actually earning their money, and who's sitting behind a desk in a cozy office pouring over paperwork for much higher wages...

How do you feel about college educations? Do you feel that all those who show the potential should be allowed to attend? The gov't is also drastically cutting funding for the Perkins loans and grants, which will make it even more difficult for the working poor to put themselves through school in an attempt to better themselves and pull them out of poverty.

Let's not forget about other public services as well. You want good local schools for your kids or your neighborhood's kids? Pay the taxes and fund them. You want a fire department to be on constant standby in the case your house catches fire? Pay the taxes and fund them. You want the police to catch the serial killer running rampant? Pay the taxes and fund them.

On a personal note, I applaud your efforts and contributions to help those less fortunate than you. It's increasingly rare to find those who will voluntarily give to help others. It's this rarity that is the precise reason we have the tax system in place.

 

[Mort Corey]

Well, let's see....we've gone from the right to good health care and or insurance to the right to a decent (by whatever standards) wage to a right to a college education. Depending on where one lives, an automobile is often necessary to get to and from a doctor, job and school so shouldn't one have a right to necessary transportation? If so, what if it's only a crummy car that's always breaking down and the poor sole cannot afford to get it repaired? Should there be a right to a decent auto and/or affordable repairs?

Granted, this is all a little tongue in cheek, but I'm sure you can see where I'm going with this line of reasoning. Where does it end? Your (at least if I read you correctly) ideal society has been tried in several countries and has not shown a very good result....Cuba comes to mind as an example. Methods of centralized control tend to reduce everyone to the lowest common denominator without any chance to advance.

Government, in and of itself, is a necessary evil. I, personally, do not care to have it be my mother nor my master. Coerced charity is more akin to extortion...IMHO.

Mort (who as you can tell has been filling out his 1040 form(s), honestly at that, to make his annual tribute unto Caesar)

 

[Carlo_M]

Yeah I lose approx. 25% of my paycheck to various taxes and fees. Bummer. And they still won't fill all those potholes on the roads I use to go home

 

[Ken Chan]

So if you can't do everything, don't do anything? You try to find a balance. Of course, communism doesn't work, partly because it ignores basic realities of human motivation; it's not balanced.

 

[Brian Perry]

Society places an economic value on each job, and it's usually related to education and hard work. Of course, effort doesn't always equal success and life isn't always fair. But shouldn't the kid who studied hard be rewarded with a better job than the kid who never cracked a book and partied all the time? There needs to be an incentive for people to act responsibly, whether that means studying in school or saving for retirement.

 

[Tim Hoover]

Most larger cities (including the burgeoning metropolis of Paducah, KY ) DO offer public transportation. Most towns and cities with a higher learning facility do as well. Your tax dollars are already being spent on buses, subways, and even trolleys. In fact, here you can catch a bus from pretty much anywhere in the city and ride it to our local college...

I just find it rather sad that people can have full-time jobs, work hard, and still find themselves in poverty. I find it sad that elderly, who have done everything right in their lifetimes, are having to choose between meds and food due to a pittance of a SS check. I find it sad that children of academic promise aren't able to go to college because they can't afford the rapidly-rising tuition rates. I find it sad that my employer, who has had a factory in this area for seemingly forever, has closed up shop and outsourced production for higher profits. Finally, I feel sad that because of said outsourcing, you feel I should live in a box and forego actually living like a decent human being with access to food, medical care, and decent housing so you can save a few bucks every year...

Brian - I agree with most of what you said. Education is directly related to employment value these days, which is why I feel it is important to provide funding for education, and happily pony up my $$. The kid who studies hard all the time should have some means of going to college, which is being taken away due to tax cuts. However, economic value is absolutely NOT related to the amount of hard work by any means. Who works harder, the guy cutting tobacco for $7 an hour, or the executive who attends board meetings all day for hundreds of thousands of dollars per year?

Responsibility is a key, as well. Like I said in my first post, there will always be those that abuse the system. However, I strongly feel that punishing those abusers by cutting their benefits to almost nothing has the alarming side-effect of also punishing those that are acting responsibly. I equate it to prison incarceration, where there is no "acceptable loss" in my opinion. If one innocent and honest person is harmed by such means, then we have a problem with the system and need to find other means...

 

[Brian Perry]

"Harder" is a tough thing to quantify. The executive may not be burning as many calories, but may face much more stress. He is largely (depending on the situation) responsible for the success of the company and the livelihoods of many people. The executive may work 80 hours a week, while the manual laborer may only work 9-5.

I understand your point, but I think we need a system where there is a safety net that does not encourage dependency. It's almost a Catch-22, though.

 

[Philip_G]

funny this should come up.
WHen I started here in AUGUST of last year I noticed my checks were smaller than my last job, after a couple checks I realized this was because my dependants were set to ZERO!

So I email the accounting person, and submit a new W4 figuring it would be corrected by the next check, nope. No less than SIX MONTHS later they switch payroll companies, and it's corrected. I feel relieved because it's about 200 bucks a month out of my pocket.

Well, this week what do they do? they switch BACK to the old payroll company and guess what? I'm back to 0/0.

I'm so pissed off I can't see straight right now. My budget is particularly tight right now and that $200 a month is quite a bit of a problem for me. But what's it to them, right?