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Tax Day - - I wonder where government will get the money

Discussion in 'General Real Estate and Real Estate Finance' started by Elliott, Apr 14, 2009.

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  1. Elliott

    Elliott Elite Member

    62
    Apr 23, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Oregon
    Just finishing up on my income taxes and ran TurboTax's two
    year comparison.

    Adjusted Gross Income down 25%
    Taxable Income down 37%
    Income Tax down 48%

    I wonder if government planned for not getting as much revenue
    out of me? I doubt it. I'm sure they gave themselves raises and
    more benefits.
     
  2. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    Top Poster Of the Month

    473
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    My numbers were an inverse of yours... Had to write Uncle a check for $1200 more than I had already paid in, plus a much larger quarterly. Last year (07) was my "dip" year
     
  3. VegasWayne

    VegasWayne Senior Member

    12
    Nov 15, 2007
    Professional Status:
    Licensed Appraiser
    State:
    Nevada
    Don't worry, they won't run out of paper and ink.
     
  4. SnoValues

    SnoValues Sophomore Member

    0
    Dec 3, 2003
    Professional Status:
    Certified General Appraiser
    State:
    Minnesota
    The government will have to count on the AMCs and electronic appraisal delivery companies to cover your decline.
     
  5. Vetteman

    Vetteman Member

    0
    Jan 5, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    My income has been sliding since 4Q 2005. For the first time in 45 years of working, I ended up paying no federal income tax. I remember telling my sons that paying taxes only means you are making money. How true.

    Government never plans for anything pessimistic...their glass is always half full. They'll just fill it with either borrowed or printed money and place the burden of repayment on future generations.
     
  6. Doug in NC

    Doug in NC Senior Member

    4
    Jan 17, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    This is also tax Tea Party Day. I hear a couple thousand or more radicals might be banding together today because they are upset about unprecedented government spending. A government memo is circulating with a warning to law enforcement. They are to be wary of individuals who might support issues like gun rights, pro-life, low taxes, or small government. The memo says to especially be concerned about people who are veterans of the US military. Yikes! I can see how ex-military must really be a threat to the country that they have risked their lives for. :unsure:

    Watch yourselves out there today, freedom-loving citizens who believe in their Constitution could be anywhere. :peace:
     
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