Now Playing at Reason.tv: "Bitter and Frustrated" Taxpayers Sound Off!

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[Taktix?]

Is it any wonder that tax day and election day are almost half a year apart?

[Reinmoose]

You're not supposed to be satisfied and resigned about the way that your money is being spent just because there are people who are less happy with the way their money is being spent... that doesn't even make any sense.

[Reinmoose]

I also like the claims that they're getting money back. WOOHOO! Money that is rightfully mine that I could have been earning interest on or using to "stimulate the economy" or using to pay off my bills so I'm not paying so much in interest to my creditors! Nice! Thanks government!

[Episiarch]

Nick, what digital cameras are your guys using?

[Vermont Gun Owner]

They are doing the best they can with the resources they have.

Yeah, because we all know the US government has barely any resources to use.

PS: At least none of my tax money went to this site... Can't even give a post a title...

[Prolefeed]

I also like the claims that they're getting money back. WOOHOO!

Apparently they're unaware that tax refunds are considered "income" subject to taxes. Can you imagine a private company overcharging you, and when you happen to find out about the overcharge, they only hand you back two-thirds or so of what they overcharged, because they think someone else deserve the money more and you can afford to help them out?

You'd go ballistic if a private company treated you that way. So why the complacency about being ripped off by the feds?

[Creech]

Prolefeed, please explain how refunds are income subject to taxes.

[Legate Damar]

So why the complacency about being ripped off by the feds?

Hippie: Because they're not in for a profit, man.

Coastal elite leftist: Because they will use that money to make things better. Besides, it that only happens to the little people. I just cheat on my taxes.

Centrist: You know what, that sucks! I'll remember this in November and... Ooh... shiny...

Neocon: For every $1 that the government accidentally overcharges, they can invest that money in the Freedom Dividend in Iraq and get back $500 long term! You don't think it'll happen? Traitor!

Libertarian: Because private companies don't have guns and badges.

[Vermont Gun Owner]

Prolefeed, please explain how refunds are income subject to taxes.

That would take some very sneaky justification. The income has already been taxed once.

[Legate Damar]

Creech,

If you get a rebate on your state taxes in 2007, and you itemized your 2007 deductions, then in 2008 you have to declare that amount of income on your Federal income tax.

The states get first whack at your money, so if the amount you got to keep from the previous year is higher than what you reported at the time, the difference is taxable for the year you received the money back. Only works if you're itemizing.

[Legate Damar]

Man, I explained that badly. But I can't think of how to do it better without a 3-paragraph explanation, and I just don't care enough to do that.

[mk]

I liked that one guy's tie a lot.

[Other Matt]

Prolefeed, please explain how refunds are income subject to taxes.

State income tax refunds. Just sayin.

[JN]

If I thought 50% of my taxes went to something worthwhile I would be ecstatic. I would estimate 20% or less.

[Guy Montag]

Well, I am feeling much less bitter today than yesterday. Might have more to do with a busier and productive workday.

So, now that I am less bitter I am going back to searching for a silk top-hat, gold watch chain, vest, spats, monicle and growing a big handlebar mustache to twirl.

Now it is time to light a cigar with a wad of money and bellow my evil laugh!

[Guy Montag]

JN,

Same here. That Defense budget is way to small for me too.

[Prolefeed]

We keep getting state income tax refunds, and when I enter it into TurboTax, it is added to federal taxable income, and the little box on the upper left showing how much money you owe the IRS shoots up by the marginal tax rate. I called the IRS hotline a couple of years ago to protest this, and they spent about five minutes spewing BS trying to convince me it was "fair" and "wasn't really getting taxed twice." They utterly failed to convince me.

Dunno about federal income tax refunds being considered taxable income -- we always owe bigtime there, so I haven't had occasion to see if that gets added to the income for the current year. If I misspoke about that, my bad.

[lagomorph]

The only way I'm aware that (non-federal) refunds are taxable is if you deducted them previously from federal tax. Since you deducted more than the amount actually paid it actually makes sense.

[OGRE]

I can't really think of what my federal income tax money goes to pay for that I would approve.

Roads/Highways? most of that is paid for by the states

Federal Court system? I practice in federal court. Every case I've ever handled in fed court should have properly been brough in state court. (drug charges mostly)

Congressional salaries? please

Social Security? like I'll ever get anything back on that fine investment

Military? If they would stick to defending the country instead of 'bringing democracry to the world, fuck yeah!" I wouldn't object.

Post Office? I pay for that with stamps. Which are going up again by the way.

[javier]

it sad most people believe that savings is bad for the economy and they are being a naughty citizen. Fuck keynes.

[ChicagoTom]

I also like the claims that they're getting money back. WOOHOO! Money that is rightfully mine that I could have been earning interest on or using to "stimulate the economy" or using to pay off my bills so I'm not paying so much in interest to my creditors! Nice! Thanks government!

TO me, this is the most surprising thing about taxpayers...

Almost every person I talk to gets excited about getting lots of money back. When I tell them "essentially you just gave the government an interest free loan" they look at me like I am crazy.

It doesn't seem to click for lots of people that their "tax refund" basically means "sorry -- we withheld too much money from your paychek all year"

[Cosmotarian Overlord]

Vermont Gun Owner | April 17, 2008, 12:27pm | #
Vermont gun owner says:

PS: At least none of my tax money went to this site... Can't even give a post a title...

silly peasant, you pay for the defense of the oil industry right? Isn't the defense of oil drilling in the mid-east given as the biggest excuse for our continous involvement there?....doesn't that qualify as a subsidy to companies like Exxon? Isn't Exxon the biggest contributor to Reason?

So yes you are paying my salary and supporting this website, your just too much of a Weigel Class 2 idiot to know what is going on. now get back to work we need some more funds here.

[Prolefeed]

The only way I'm aware that (non-federal) refunds are taxable is if you deducted them previously from federal tax. Since you deducted more than the amount actually paid it actually makes sense.

Not in our tax bracket. Between the AMT and the various phaseouts for high income earners, only a small portion of our "deductions" actually get deducted from taxable income. Whereas all income gets whopped at the top marginal rate.

[lagomorph]

Prolefeed, the only way your state/local refunds are taxable is if you previously deducted them on a federal return and the amount was over the state/local tax you actually ended up paying that year.

ex. say last year you had:
$100,000 state withholding and
$80,000 state tax liability

If you deducted $100,000 last year on federal you'll have to add back the refund $20,000 this year since you "over deducted" last year.

And yeah, the phaseouts suck but I don't see how that has anything to do with this.

[Tbone]

Overload,

You mean the Military Industry Complex controls "Free Minds and Free Markets" too?

NNNNNNNOOOOOOOOOOOOOOOOOOOOO!!!!!!

This means that passive naturalism is the only true remaining path to enlightenment.

[Tbone]

Overlord, although it caused me overload.

[John COsmo Jackson]

I dont like taxes but I never blame it on gays, immigrants,liberals, atheists, insert favorite scapegoat here,etc.

Call me Elitist.

[joshua corning]

If Gavel gets the Libertarian nomination i would like the name of that old lady who was Frustrated and Bitter about her taxes so i can vote for her.

[Jordan 6 Rings]

perfect

[Nike Dunk SB High]

is good