A recent report from the Associated Press revealed that 47% of American households pay no taxes.  None.  Zip, zilch, nada.

In fact, if you are in a family of 4 making less than $50k per year, you end up owing nothing.

If this fact has you a bit peeved after stewing over your taxes for the last several weeks, keep reading, it gets better.

The bottom 40% of households will actually make money off Uncle Sam this year.  Put another way, they don’t pay taxes, yet they still get a check in the mail from the U.S. government.  It’s really not a refund, since they don’t have anything withheld to return.

So all the infrastructure that we all take advantage of (military, interstate, national airspace system, postal service, etc), regardless of income; 50% of American households pay not only for their share, but the other 50% of households share as well.

Think about this: If you owe money this year, you may as well give half of what you owe to your neighbor.  He’ll get it anyway.

Taxes Taxes

An ugly era in our country is right around the corner.  Spending is out of control.  The misunderstanding of our own Constitution by our own representatives is reprehensible.

If fact, it’s become apparent that our representatives really aren’t representing any longer, they simply vote to keep their jobs.

In that light, please let me send a bit of a warning to our fellow Americans in Washington.  When the taxpayer no longer sees their money as being spent frugally, they stop paying taxes.  Laws be damned.

Our government is one of the most corrupt in the World.  It should become obvious when labor unions sway votes even though the general public doesn’t want legislation.

Finance, Frugal Living, Taxes

As I’ve mentioned in ad nauseam, I hate paying taxes.

This years tax results ended up more favorable than in years past.  I’m actually getting money back from the Fed this year, about $850 to be more precise.

To be honest, my goal is to break even.  If there’s anything worse than paying good money for bogus and frivolous spending in Washington, it’s giving Uncle Sam an interest free loan.

Adding an extra dependent helps (for a $1,000 tax credit) and I’m using all the money I’ve paid to the day care center to my advantage.

Then there’s the B.S. “making work pay” tax credit of $800.  I’ve got mixed feelings about this one, since I’m not really a fan of taking (or supporting) free handouts from our government.  On the other hand, if everyone else is getting the so called “tax break”, why not me?

If you take out that $800 credit, I basically broke even.

On a related note, if you’re tired of paying taxes to fund worthless government programs, maybe it’s time for a change.  Check out the Fair Tax proposition; it might be a worthwhile cause.

Taxes Fair Tax, Taxes