to Mani and dblack....
We are given a standard deduction for our supposed yearly cost of living, so that we are only taxed on our ''profits'' from our labor earnings....what is it....$5700 each?
This is where the problem begins because that is too low imo...
According to a Supreme court decision on income taxes way back when, (no, i can't remember what the case was but i do remember what it said)the SC said that income taxing us had to be taxing our ''profit'' from our labor....our taxable income should be ONLY our profit from our labor.....just like businesses and corps only pay taxes on their profit....
BUT, only around 40% of the people in this nation use the ''long form'' and claims all of their ''expenses'' (that can be claimed) to reduce their taxable income.....the other 60% or so just get to take the standard deduction of $5700 per person which imo is an utterly & ridiculously low amount for what it really takes for the average joe/jane to spend to supply their labor....like what we spend on gasoline back and forth to work and our overhead costs.....
So, we are not given the same opportunities as businesses or corporations to write the same expenses off.....but we should be imo.
----------------------------------------------------------------
to the op....CC
since we are only suppose to be income taxed on profits, we are given the standard deduction per person to account for our expenses....
therefore, for those filing the short form.....a family of 2 earning the same income as a family of 4, will pay more income taxes than the family of 4 because they have 2 fewer standard deductions to take to reduce their taxable income.....and 2 fewer heads to feed and clothe,
so the person paying less than the fam of 2, due to the 4 standard deductions they take vs the guy's 2, isn't truly coming out ahead of the guy with just 2 deductions because the fam of 4's expenses are higher.....
we are taxed on our profit which is our ''taxable income''....
-----------------------------------------------------------------------------------------------------------------------------
I think it is unfair that a family of 2 making the same income as the 2 of us....... just because they are strapped with mortgage debt and get to write that off, pays less..... while the hubby and I saved every hard earned penny to pay cash for our home so we have no mortgage....we are being dicked with extra taxes for being responsible.....and we pay huge property taxes and we've never been able to have children!
I'm certain EVERYONE has their own ''beef'' with what is unfair to them....regarding taxes....
Life's a bitch and then we die....eh? lol j/k
We are given a standard deduction for our supposed yearly cost of living, so that we are only taxed on our ''profits'' from our labor earnings....what is it....$5700 each?
This is where the problem begins because that is too low imo...
According to a Supreme court decision on income taxes way back when, (no, i can't remember what the case was but i do remember what it said)the SC said that income taxing us had to be taxing our ''profit'' from our labor....our taxable income should be ONLY our profit from our labor.....just like businesses and corps only pay taxes on their profit....
BUT, only around 40% of the people in this nation use the ''long form'' and claims all of their ''expenses'' (that can be claimed) to reduce their taxable income.....the other 60% or so just get to take the standard deduction of $5700 per person which imo is an utterly & ridiculously low amount for what it really takes for the average joe/jane to spend to supply their labor....like what we spend on gasoline back and forth to work and our overhead costs.....
So, we are not given the same opportunities as businesses or corporations to write the same expenses off.....but we should be imo.
----------------------------------------------------------------
to the op....CC
since we are only suppose to be income taxed on profits, we are given the standard deduction per person to account for our expenses....
therefore, for those filing the short form.....a family of 2 earning the same income as a family of 4, will pay more income taxes than the family of 4 because they have 2 fewer standard deductions to take to reduce their taxable income.....and 2 fewer heads to feed and clothe,
so the person paying less than the fam of 2, due to the 4 standard deductions they take vs the guy's 2, isn't truly coming out ahead of the guy with just 2 deductions because the fam of 4's expenses are higher.....
we are taxed on our profit which is our ''taxable income''....
-----------------------------------------------------------------------------------------------------------------------------
I think it is unfair that a family of 2 making the same income as the 2 of us....... just because they are strapped with mortgage debt and get to write that off, pays less..... while the hubby and I saved every hard earned penny to pay cash for our home so we have no mortgage....we are being dicked with extra taxes for being responsible.....and we pay huge property taxes and we've never been able to have children!
I'm certain EVERYONE has their own ''beef'' with what is unfair to them....regarding taxes....
Life's a bitch and then we die....eh? lol j/k
Last edited: