I LOVE taxes!!!

[granville]

With so many threads discussing the many ways to avoid taxes (legitimately), I thought to add one in which I would discuss the reasons why I appreciate the tax system.

First, I think America is a GREAT place to live, work, raise a family and pursue happiness. Without folks such as yourselves, who made millions in the markets and paid your taxes before me, I would not have had a public education, health care, or the life opportunities I now have. I look forward to paying back into the system knowing that at least here in the USA, my taxes go to pay for the opportunities that the next generation will enjoy.

I know the USA is not perfect, but having been able to travel a little bit, I see that our system is much less corrupt than other countries and at least here we do have a voice AND a vote.

I am not saying that we should not take measures to reduce our tax liability. Rather, there are a set of laws and even an entire industry built around the preservation of wealth and the formulation of tax strategy. But I am happy to pay into a system that has offered me so much.

- Adam

 

[Ripley]

But, it is unfair when the those in the know pay less than their fair share and the common man who cannot afford a big accounting firm pays their ass off. Just so unfair.

And the estate tax is 52% if you have anything valuable to leave for your children.

 

[traderstatus]

Quote from Ripley:it is unfair when the those in the know pay less than their fair share and the common man who cannot afford a big accounting firm pays their ass off. Just so unfair.

Not paying one's fair share can result in going to prison, and you don't use accountants to do that. otherwise the accountant goes to prison with you.

Retaining tax pros to assist taxpayers to structure their affairs to avail themselves to the tax benefits voted in by the US Congress is certainly paying one's fair share. If people feel it is not fair enough, they should contact their Congressman and change the laws.

The "donate your junk car to charity" tax deduction was changed recently for exactly that reason. As was the motor vehicle sales pitch "write off your Hummer this year" that riled up enough people to get Congresss to change their mind on that deduction too.

 

[OrderBlaster]

Arrrrr ...ain't that sweet! You've traveled a "little bit" and hold in reverence the U.S. tax system? Where'd you go ...Nigeria?

You wanna see a decent system? Try Switzerland. Low income tax and zero cap gains tax. Everywhere, clean and modern with low crime. Federal government irrelevant because cantons (states) run the show. One of the wealthiest nations per capita on the planet. A "voice"? Try referendums. That's right, anything of significant national interest always goes to the people. The Swiss are too smart to trust their politicians. That's real democracy in action! Public schools? ...best around. They actually have standards. Kids come out of high school speaking three languages and don't even think about it. How do they finance such services like top quality public transport and schools with low taxation? Cos they don't piss money around the place for no reason that's why. As for privacy, it isn't just a right in Switzerland - it's enshrined in law. Compare that to the U.S.

One other thing ..the Swiss don't go wearing their patriotism on their sleeve by pronouncing that they live in the best country in the world either! Must be a cultural thing ....

 

[mhashe]

Quote from granville:

With so many threads discussing the many ways to avoid taxes (legitimately), I thought to add one in which I would discuss the reasons why I appreciate the tax system.

First, I think America is a GREAT place to live, work, raise a family and pursue happiness. Without folks such as yourselves, who made millions in the markets and paid your taxes before me, I would not have had a public education, health care, or the life opportunities I now have. I look forward to paying back into the system knowing that at least here in the USA, my taxes go to pay for the opportunities that the next generation will enjoy.

I know the USA is not perfect, but having been able to travel a little bit, I see that our system is much less corrupt than other countries and at least here we do have a voice AND a vote.

I am not saying that we should not take measures to reduce our tax liability. Rather, there are a set of laws and even an entire industry built around the preservation of wealth and the formulation of tax strategy. But I am happy to pay into a system that has offered me so much.

- Adam

Taxes are not paying for the privileges you feel you enjoy, it's excessive borrowing ( debt). If you love paying taxes now, you'll love it even more when the tax rates get jacked up to 70% so your kids can pay off the ever increasing debt

 

[Cheese]

Quote from granville:

With so many threads discussing the many ways to avoid taxes (legitimately), I thought to add one in which I would discuss the reasons why I appreciate the tax system.

First, I think America is a GREAT place to live, work, raise a family and pursue happiness. Without folks such as yourselves, who made millions in the markets and paid your taxes before me, I would not have had a public education, health care, or the life opportunities I now have. I look forward to paying back into the system knowing that at least here in the USA, my taxes go to pay for the opportunities that the next generation will enjoy.

I know the USA is not perfect, but having been able to travel a little bit, I see that our system is much less corrupt than other countries and at least here we do have a voice AND a vote.

I am not saying that we should not take measures to reduce our tax liability. Rather, there are a set of laws and even an entire industry built around the preservation of wealth and the formulation of tax strategy. But I am happy to pay into a system that has offered me so much.

- Adam

Thanks for the horsesh*t.

Any product you buy is made of taxes: sales tax, corporate taxes, and taxes on goods and services which make up whatever goods and services you or I buy retail.

If I spend instead of saving and investing then the more taxes I pay through my consumption.

So do I want to pay tax on my income or gains: No I do not.

 

[cable]

I, too, would love taxes:

A) if they were voluntary, not at the barrel of a gun;

B) if I hadn't seen so many examples of politicians outright stealing tax dollars, using them for incompetent crap (like measuring cow flatulence or paying 2 million for horrible art coincidentally done by a relative of our leader), or evading taxes themselves while I effectively am forced to pay for their hookers and European vacations;

C) if it weren't so complicated and bureaucratic (although my accountant always does them for me, the mere existence of these 'Big Brother is watching you' forms pisses me off)

D) if taxes didn't harm the economy by sucking the life out of it like a cancer (solved by guaranteeing A, B and C are implemented).

But in their current state? NO, I DON'T LOVE TAXES.

 

[littledickens]

Quote from granville:

With so many threads discussing the many ways to avoid taxes (legitimately), I thought to add one in which I would discuss the reasons why I appreciate the tax system.

First, I think America is a GREAT place to live, work, raise a family and pursue happiness. Without folks such as yourselves, who made millions in the markets and paid your taxes before me, I would not have had a public education, health care, or the life opportunities I now have. I look forward to paying back into the system knowing that at least here in the USA, my taxes go to pay for the opportunities that the next generation will enjoy.

I know the USA is not perfect, but having been able to travel a little bit, I see that our system is much less corrupt than other countries and at least here we do have a voice AND a vote.

I am not saying that we should not take measures to reduce our tax liability. Rather, there are a set of laws and even an entire industry built around the preservation of wealth and the formulation of tax strategy. But I am happy to pay into a system that has offered me so much.

- Adam

oh blow it out your ass

 

[dougcs]

Quote from Ripley:

But, it is unfair when the those in the know pay less than their fair share and the common man who cannot afford a big accounting firm pays their ass off. Just so unfair.

And the estate tax is 52% if you have anything valuable to leave for your children.

Your statement re. the estate tax is misleading. For one it is only for estates that are valued over 1.5 million in 2005 and that increases to 3.5 million in 2009. After that it is up to Congress to keep the threshold level high, at another level, or lower it. This schedule expires in 2009.

Also, it is not difficult when you have the financial means to plan for ways to reduce or even eliminate the tax liability.

According to the IRS in 2004, there were 440 large estates. The actual tax paid for them was less than 20% with those under 5 million paying under 10%. Hardly the 52% you stated.

DS

 

[Hamlet]

Quote from OrderBlaster:

Arrrrr ...ain't that sweet! You've traveled a "little bit" and hold in reverence the U.S. tax system? Where'd you go ...Nigeria?

You wanna see a decent system? Try Switzerland. Low income tax and zero cap gains tax. Everywhere, clean and modern with low crime. Federal government irrelevant because cantons (states) run the show. One of the wealthiest nations per capita on the planet. A "voice"? Try referendums. That's right, anything of significant national interest always goes to the people. The Swiss are too smart to trust their politicians. That's real democracy in action! Public schools? ...best around. They actually have standards. Kids come out of high school speaking three languages and don't even think about it. How do they finance such services like top quality public transport and schools with low taxation? Cos they don't piss money around the place for no reason that's why. As for privacy, it isn't just a right in Switzerland - it's enshrined in law. Compare that to the U.S.

One other thing ..the Swiss don't go wearing their patriotism on their sleeve by pronouncing that they live in the best country in the world either! Must be a cultural thing ....

Must be a demographic thing.