How does a tax holiday help anyone?

by Don Wenk Posted 2011/08/28 21:15:22

Related Topics: Holidays, Bank, Holiday, Fee, The End, Spending Cuts, Fees, Eliminate, Last Year

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	I like Holidays, give me more.	0 votes	0%
	Quit with the Holidays Cut the Duplication.	2 votes	100%
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Last year we had a payroll tax holiday where they withheld less over a period of time so I could get more in my weekly take home pay. At the end of the year I still had to pay the same amount and if I hadn’t planned for the tax bill, I would have had to take a payment plan that would have incurred late payment penalties or a bank loan incurring interest fees to pay my taxes. Let’s give up on the holidays and effect real spending cuts (eliminate the duplication).

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Temlakos~POTL~PWCM~JLA~☆ 2011/08/29 12:12:34

Quit with the Holidays Cut the Duplication.

We need a much simpler tax code, one that reduces the burdens on the economy--especially cost-of-compliance, which doesn't help the government at all and is a total waste of money and effort.

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Don Wenk to Temlako... 2011/08/29 18:50:30

What do you think about the following? There would have to be a reduction in Federal Government to go along with this. I think i have that figured as well.

On Taxes: Repeal and replace Article XVI with a flat income tax of 6-12% on all income. The only exemption allowed, if with implementation of the tax, your income falls below the national poverty level, you would be 100% exempt. Congress would be allowed to reduce the tax level, but the national electorate would have to approve an increase with a simple majority.
Don Wenk for President.

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Don Wenk 2011/08/29 00:02:01

Quit with the Holidays Cut the Duplication.

Our tax system is so convoluted the withholding matrix no longer works. You ether give the government an interest free loan or you end up with taxes owed at the end of the year. Personally I opt for planning ahead. I deposit a sum in an interest bearing account and pay a smaller withholding each payday. Then at the end of the year I have the funds to pay my tax bill. I get the interest, not the government. Granted it isn’t much but it is my small victory.

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