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Old 04-14-2009, 09:42 PM
Elliott's Avatar
Elliott Elliott is offline
 
Join Date: Apr 2002
Location: Pumpland
State: Oregon
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Default Tax Day - - I wonder where government will get the money

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.
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Old 04-14-2009, 09:43 PM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is online now
 
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Location: Springtown, AmeRica
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Default

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
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Old 04-14-2009, 09:44 PM
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VegasWayne VegasWayne is online now
 
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Location: Area 24
State: Nevada
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Don't worry, they won't run out of paper and ink.
  #4  
Old 04-15-2009, 01:39 AM
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SnoValues SnoValues is offline
 
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Location: Twin Cities, MN
State: Minnesota
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The government will have to count on the AMCs and electronic appraisal delivery companies to cover your decline.
  #5  
Old 04-15-2009, 08:14 AM
Vetteman Vetteman is offline
 
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State: Florida
Professional Status: Certified Residential Appraiser
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Quote:
Originally Posted by Elliott View Post
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.
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  
Old 04-15-2009, 08:21 AM
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Doug in NC Doug in NC is offline
 
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State: North Carolina
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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.

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