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I HATE THE I.R.S.

Discussion in 'Other Off Topic Forum' started by Ricambi America, Apr 3, 2004.

  1. Ricambi America

    Ricambi America F1 World Champ
    Sponsor Owner

    Bang... somewhere deep into 'five digits' worth of tax payments just flew out of my bank account to the IRS. At least it was easy with TurboTax to electronically file everything.

    It sickens me that my outrageous tax payment (in addition to monthy & quarterly payments) is destined for Iraq or Afganistan. Why in the world do I have to pay for their friggen highway system? Screw you "W" and all you idiots in Congress.

    Yes, I know "America" is great and all that crap... but come on, let me keep the tens of thousands I just paid, and I guarantee I'll spend it wildly, creating better economic growth at HOME than those a-holes in Washington even dream of.

    Yes, I'm pissed.


    And now, I'm working on getting drunk. Bring on the Baileys.

    -Daniel
     
  2. ferraripete

    ferraripete F1 World Champ

    me too! paid well into the six figure mark between state and fed. while it hurts my feelings a bit...let's try to pretend our contributions are being used wisely! lol!!

    if we are paying a bunch...must mean we are making a bunch.

    gues it could be worse.
     
  3. 134282

    134282 Four Time F1 World Champ
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    Aug 3, 2002
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    Carbon McCoy
    i hate them, too... Don't worry, you're not alone...
     
  4. dm_n_stuff

    dm_n_stuff Global Moderator
    Global Moderator Lifetime Rossa Owner

    Dec 10, 2003
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    Dave
    Geez fellas, I love paying taxes, lots of taxes. The more the better. After all, we voted for the folks who have designed a tax system that places the highest burden where it can most be afforded, on dead people.

    Try to leave money for the next generation. After the gov takes about 50%, then you can hope your kids split the rest and invest wisely, so that their heirs can pay 50% taxes on what's left when they die.

    Oh, and don't try to invest wisely while alive and sell that which made you money. That whole reduction in capital gains only applies to certain portions of certain types of gains. I just got smacked with a 25% capital gains tax (instead of the 15% I was anticipating) on a depreciated asset that I sold this year. OUCH.

    Well, but as we say, if you're paying a bunch of taxes, you must be making a bunch of money.

    Drink up.
     
  5. Ricambi America

    Ricambi America F1 World Champ
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    It doesn't feel that way.
     
  6. KKSBA

    KKSBA F1 World Champ
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    Oct 31, 2003
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    Congrats! Feel good that 50% of YOUR money has now made it possible for some people to sit on their (ever-balooning) a$$ for another year and do nothing.
     
  7. dm_n_stuff

    dm_n_stuff Global Moderator
    Global Moderator Lifetime Rossa Owner

    Dec 10, 2003
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    I hear ya.

    Just feels like your writing a big check for someone elses benefit.

    Oh, and don't go spending those retirement dollars yet, either.
     
  8. 134282

    134282 Four Time F1 World Champ
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    Yeah, no kidding on that...! By the time i'm eligible, social security will have been a thing of the past... i called me accountant and asked if there was any way i could STOP paying social security tax and he said no... So i'm basically putting money into something i'll never reap... Great... i wonder if, after social security goes down the drain, they'll STILL try to make us pay ss tax...? Hmmmmm...
     
  9. RacerX_GTO

    RacerX_GTO F1 World Champ
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  10. wax

    wax Four Time F1 World Champ
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    Dirty Harry
    Is it possible for you to do a 1099?
     
  11. 134282

    134282 Four Time F1 World Champ
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    Of course it is; then, after a few years of filing and paying my taxes manually MINUS my ss tax, they'll arrest me for tax evasion... i've done a lot of reading about the IRS and their "departments" and "courts" and procedures and yadda yadda yadda... Lemme tell you, i'd rather be on a train in Spain than have to be in an IRS tax court... The rules of the constitution just don't seem to apply...
     
  12. RacerX_GTO

    RacerX_GTO F1 World Champ
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    No, never would that happen in the United States! What are you thinking man? All citizens are protected by the Constitution, c'mon, everybody knows that!
     
  13. 134282

    134282 Four Time F1 World Champ
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    Carbon McCoy
    LMAO...!
     
  14. JSL

    JSL Formula 3

    Jan 5, 2002
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    At lease "W" wants to lower taxes! The other guys just talk about raising the rates on the "rich". Well, every one's defination of "rich" is different. I certainly don't feel very "rich" when I paid over 44% in just Fed and State income tax. I take offense to the elitist goof balls who pander to the "working man". What the heck am I? Just because someone makes a little more money than someone else are they not a "working man"? Can someone please explain this to me?
     
  15. judge4re

    judge4re F1 World Champ

    Apr 26, 2003
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    Dr. Dumb Ass
    At least you're not paying taxes in two countries. I've got a nice 6 figure tax bill coming this year.
     
  16. JSL

    JSL Formula 3

    Jan 5, 2002
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    Sorry to hear that. But paying in California is like paying in two countries. I don't even want to think about what I paid. My father retired with less than I paid this year.
     
  17. darth550

    darth550 Five Time F1 World Champ
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    I got my estimate for $419.000.00. No worries, I sent them a Skil-saw!

    DL
     
  18. KKSBA

    KKSBA F1 World Champ
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    What are you kidding?!! Of course "they" will. Taxes never go away.

    Say goodbye to Social Security, say hello to the new Social Recovery.
     
  19. PeterS

    PeterS Three Time F1 World Champ
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    JRR...That really sucks....Not the fact that you finally paid, but how it was taken. Makes you want to go to an IRS auditors house and steal his gas that he has to get to work with. I guess if the IRS told you they were going to do that, you would have moved your money! Lesson: Keep your savings account in a safety deposit box.
     
  20. Ricambi America

    Ricambi America F1 World Champ
    Sponsor Owner

    Are you earning income in both countries? I suppose you can at least be thankful that you get the first 70K exempt (whoppee!) from the IRS depending on the combined length of your stays overseas, right?

    Everyone - I woke up more pissed-off than when I went to sleep last night. This can't be good. I'll go fire up the F-car, and see if some Italian therapy helps. If it weren't for the lousy (and short) roads, I'd relocate to a tax haven (Isle of Man?) right now!


    -Daniel
     
  21. Ricambi America

    Ricambi America F1 World Champ
    Sponsor Owner

    Oh yeah... and where's Dale "Dr Tax" now ?!?! Blood-sucking CPA's get to profit from my misery!! Back in the day, my PwC bill was almost worse than the tax bill itself !

    -Daniel


    Just kidding Dale...
     
  22. sboney

    sboney Rookie

    Nov 2, 2003
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    Houston, Texas
    I propose a modest constitutional amendment: all elections on April 15th.
     
  23. JSL

    JSL Formula 3

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    Best idea I have heard this year!!!!:)
     
  24. Texas Forever

    Texas Forever Four Time F1 World Champ
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    Apr 28, 2003
    44,408
    Texas!
    I'm kinda surprised that something hasn't surfaced by now. Perhaps the only positive spin on the income tax is that at least once a year you get a bill. If we go to a consumption tax, you will never again see your personal contribution to this madness in one due bill. It will instead be a bite here and a bite there. This is why a consumption tax is a politican's dream. They will just keep raising rates in .0001 bites and nobody will notice.

    Keep in mind that I feel your pain also. I remember many years ago when I realized that my tax bill was over $35,000. I blew a gasket because I damn sure didn't feel any richer. When I went to work for the IRS right out of school in 1977, my bring home was less than $500 a month!

    Then the light went on. I realized that the difference between the rich and you and me is that they have assets, and not necessarily income. I had a lot of income, but no assets. And, of course, the reason that I didn't have any assets was Mordida, i.e., the little bite. After the IRS took it's bite, the Social Security bite, the health insurance bite, the mortgage bill, the water bill, the master card bill, and so forth and so on, there was nuthin left.

    So how do you acquire assets? First step is to realize that working for the man is a game that can't be won. I gotta admit that during the 90s it looked like I had been proved wrong. The stock option game was great, while it lasted. Lately things has returned to normal.

    The second trick is to control your overhead, both business and personal. This sounds silly coming from a guy with way too many toys. But what you may not know is that I have been living in the same home for almost 14 years and it is paid for. If I had stuck with my peer group, I'd have a home twice as big, with a $10k a month mortgage payment and so forth and so on.

    Any rate, I'm rambling. So I'll leave you with this --

    The Art of Taxation from Sen. Russell Long

    Don't Tax Me.

    Don't Tax Thee.

    Let's tax the feller beind the tree!

    DrTax





     
  25. ashsimmonds

    ashsimmonds F1 World Champ

    Feb 14, 2004
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    drTax's keyboardings inspire me to break out the finance books again... then i look at the time - 3am - and realize i've gotta get to the cubicle in a few hours... :(

    oh well, another day another 1/4 inch on my waistline. :)
     

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