Your president needs the tax money to finance transportation for young Americans to Iraq. Also, there is a shipping cost for sending the bodies home. So why try to short the IRS?
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Your president needs the tax money to finance transportation for young Americans to Iraq. Also, there is a shipping cost for sending the bodies home. So why try to short the IRS?
The IRS shorts themselves by allowing exemptions, deductions, etc.
These provisions are expressly provided in the Internal Revenue Code.
Therefore, the legislature desired that certain activites should not be taxable.
If you pay what otherwise is not taxable, you are "donating" the money to the government.
How, therefore, is following the Internal Revenue Code shorting the IRS?
The IRS code is controlled by politicians. They tend to favor those who contribute the most to their campaigns. Doing the best for your country doesn't necessarily mean deducting everything you can. If you support your president and congressional majority, don't take the deductions. It is that simple! They are getting the blame for the massive budget deficit.
Can someone move this thread to the political board and also answer the original question about whether BBB contributions can be deducted? If the donation is small, such as my $50 to BBB, I suspect the IRS wouldn't bother to check it. But the guys that donated several thousand to BBB deserve a receipt. There must be at least six of those people, because the rest of us couldn't have contributed more than $2,000 total!
Hey Aub, like you always like to say, "Take it to the political forum." If I want to hear people bitch about the war and run down the president I can turn on any one of a dozen TV networks. Get it off our regular board!
If you wouldn't have trashed this thread up, it wouldn't have needed to be moved to the political board. Why don't you just go back and delete your ridculous posts on this thread, and allow the guy's question to be answered?Originally Posted by aubunique
Aub, you lose creditibility with statements like that (did you have any beforehand?). :wink: For someone that ribs others for stating rumors and not facts, you sure do blab a lot of misinformation.But the guys that donated several thousand to BBB deserve a receipt. There must be at least six of those people, because the rest of us couldn't have contributed more than $2,000 total!
Personal deductions have nothing to do with the deficit. A deficit is formed when someone or something has more expenses than revenue.
When my revenue drops, I cut my expenses to compensate. Government organizations NEVER cut anything whether they are needed or not and regardless of what party is on Capital Hill or in The White House.
Amen, brother, amen!!!
TD
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Ya'll need to excuse Aub. He's just upset that Howard Dean is history.
Speaking of IRS statements, my wife and I are pregnant with our 3rd child. That fancy child tax credit will reduce my federal tax burden to less than 1% of my income. My wife stays at home. So these tax cuts are far from benefiting just the rich. I consider myself run of the mill middle class. If my wife and I were to have a 4th child we would not only make a few liberals mad with our "irresponsible" child bearing, we would not pay ANY income taxes to the federal government. Life truly is grand.
Finally, do I think it is fair that nearly half of the country doesn't pay taxes while the "rich" half does? Not really. I happen to be below the line this year because we can afford for my wife not to work. I now have income to reduce my debt percentage and get my finances in order. I guarantee I will be spending more this year. Tech will benefit. My church will benefit and when I get my bonus, a decent vacation destination may even benefit. I haven't done that in a few years. All of this will increase tax revenues in the long run because it is money running around the private sector.
I now take significantly more home so I will pour significantly more into the economy. I know I am not alone. The economy is about to get a boost from folks realizing that their tax burden is significantly lower. I just turned in my L-4 and W-4's today.
I am very sorry he did not self destruct after the nomination rather than before it. He by far would have helped Bush stay in the White House. I really enjoyed his familiarity with the Bible. I guess sometimes people can fool you until they open their mouth and speak.Ya'll need to excuse Aub. He's just upset that Howard Dean is history.
At least he lives in Arkansas, wait until you fill out those Louisiana state taxes this year. Bend over and get ready! The US government will get the money it needs also. Wait until gas prices fall again, they will be taxed about 5% per gallon just like when Clinton Taxed gasoline 7% per gallon when prices were about .99 per gallon in 1999. When prices fall again the taxes will come.
Don't expect huge spending cuts on the fiscal year, too many people with their hands in the jar for that to happen. Instead look for other tax stratedgys to appear on the November ballot, read them closely.
Oh man, Bossdawg, thanks for the warning on the old Stelly Plan and state taxes. I noticed a HUGE hit in the withholdings in my paycheck last January, but wouldn't you know I still owe more now. Your message prompted me to go ahead and see the damage....guess its better to know ahead of time. If they had that election in May, I'm wondering how many would still vote for that tax plan so all of us rich folks (translated loosely to have a job of any sort I expect) could pay more taxes. Has anybody noticed a decrease in taxes where we were allegedly going to see a reduction? I haven't.
I saw a reduction. The average "household" apparently now makes more than I do so thus I am poor.
That was so nice of the people of Louisiana to pass that right before I moved here. I don't know what the people were smoking, but, that is the dumbest thing I have heard of in quite a while. I hate paying more than my share.
I just noticed this got moved. It is probably more fun than reading theories on conference realignment!
I still do not understand how trying to minimize a person's tax liability does not contribute to the deficit.
And, EJ, or whoever said it. I didn't trash the president. I don't speak on TV or in print about what is creating the deficit. I just pointed out that the administration is getting the blame for it and that it would be a logical way to support the president if one were to pay his full share without using loopholes.
How is that wrong?
Low tax rates for lowpaid people help make up for the low wages they earn. A lot of people willing to work for low wages are coming to our area these days for construction jobs. Non-local crews are becoming the norm at many of the big construction sites in Northwest Arkansas.
Only a tiny minority of people who have lived here more than a decade are seeing any benefit from the growth but are paying higher water rates for a new sewage-treatment plant, higher taxes for schools, higher taxes for roads, etc.
The situation is a lot worse for people on low, fixed incomes than on the few who benefit directly from the growth.
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