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mrdeltoid

end automatic income tax deduction

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I was thinking how we have gotten use to our taxes being taken out of our checks automatically. I have direct deposit and I don't get a pay stub. I took a look at my gross the other day and compared it to my net and I was floored. I am retired and I still have to work part time to make ends meet. If my taxes were even 20% lower I would be able to live on my pension with out working another job. This might sound crazy, but I think we should stop the automatic deductions and receive our full gross. I believe if everybody had to write checks for all that tax money and send it to the govt every week along with paying there bills,there would be a revolt. I worked hard for my retirement and I still have to get up at 3:00 AM every morning just to pay my bills. SMFH

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I am retired and I still have to work part time to make ends meet.

Welcome to the new America.

 

To reduce your taxes, the taxes would have to be raised for those earning $250,000/yr or more.

But the Repubs would NEVER do that because those people are the "job creators."

 

Like I said, welcome to the new America.

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Good luck with that. I think that anyone making less than $50K a year should be tax exempt but that won't happen either.

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Welcome to the new America.

 

 

That's not new. I've seen elderly Walmart greeters for as long as I can remember. If you mismanage your retirement stuff can happen

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If you mismanage your retirement stuff can happen

I see ... it's the worker's fault. What was I thinking?  :rolleyes:

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I am retired and I still have to work part time to make ends meet. ... I worked hard for my retirement and I still have to get up at 3:00 AM every morning just to pay my bills.

Mr. bmore_ken explained it to me: it's your own darn fault because you evidently "mismanaged" your retirement. "Stuff can happen," he tells us. So stop whining and get to work at 3:00 AM. Maybe you could apply for an afternoon or evening job as a greeter at Walmart.

 

Have you applied for food stamps? Oops, I forgot, the Repubs have cut back on food stamps for "takers" like you.

Anyway, your Repub friends offer you a smiley  :) . Have a good day.

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I was thinking how we have gotten use to our taxes being taken out of our checks automatically. I have direct deposit and I don't get a pay stub. I took a look at my gross the other day and compared it to my net and I was floored. I am retired and I still have to work part time to make ends meet. If my taxes were even 20% lower I would be able to live on my pension with out working another job. This might sound crazy, but I think we should stop the automatic deductions and receive our full gross. I believe if everybody had to write checks for all that tax money and send it to the govt every week along with paying there bills,there would be a revolt. I worked hard for my retirement and I still have to get up at 3:00 AM every morning just to pay my bills. SMFH

 

Meanwhile all public services will shutdown while waiting for those weekly checks...

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The Tea Party would become a third party and be turning people away in droves if people were responsible for cutting the government a check at the end of the year instead of having it automatically taken out of their pay in increments.

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I was thinking how we have gotten use to our taxes being taken out of our checks automatically. I have direct deposit and I don't get a pay stub. I took a look at my gross the other day and compared it to my net and I was floored. I am retired and I still have to work part time to make ends meet. If my taxes were even 20% lower I would be able to live on my pension with out working another job. This might sound crazy, but I think we should stop the automatic deductions and receive our full gross. I believe if everybody had to write checks for all that tax money and send it to the govt every week along with paying there bills,there would be a revolt. I worked hard for my retirement and I still have to get up at 3:00 AM every morning just to pay my bills. SMFH

You should try being self employed

 

Every quarter you get the privilege of writing hefty tax payment checks to the state and feds.

 

Then there's the self employment tax in which you pay the full SSA/Medicare tax since the govt considers you both employer and employee

Edited by boink

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The OP has the same problem many Americans have:

I am retired and I still have to work part time to make ends meet. ... I worked hard for my retirement and I still have to get up at 3:00 AM every morning just to pay my bills.

He does not deserve ridicule.

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Nice idea, but the motivation for it is one of the reasons why it won't happen.  Plus they wouldn't want to deal with the headache of collecting everything from everyone at once, and the delinquent folks who don't save enough to pay, etc.

 

Now I believe the self-employed get to do something like that, right?  Quarterly tax payments?  Or am I imagining that?

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Try being self-employed.  Last year my state (VA) and federal tax (including both sides of SS/Medicare) took 40.7% of my AGI.   After retirement contribution, disability ins, and $14,400/yr in health ins, and taxes, my take home is less than 40% of my gross.

 

And come 2018, I'll get hit with a 40% Cadillac Excise Tax on cost of my health ins over $10,200/yr, so an additional $1,934/yr in taxes on the $15,036/yr I'll pay this year in health ins.

Edited by jb571

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Try being self-employed.  Last year my state (VA) and federal tax (including both sides of SS/Medicare) took 40.7% of my AGI.   After retirement contribution, disability ins, and $14,400/yr in health ins, and taxes, my take home is less than 40% of my gross.

 

And come 2018, I'll get hit with a 40% Cadillac Excise Tax on cost of my health ins over $10,200/yr, so an additional $1,934/yr in taxes on the $15,036/yr I'll pay this year in health ins.

 

 

been there, done that

 

one upside is the flexibility of business and home office deductions, although you have to be careful not to raise any red flags with the IRS

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It's not for everyone, but glad I grabbed my balls and jumped in back in 1997.  I'd like to work another 10-12 years, but if this increased gov BS continues I may bail inside of four.  I have to sign off on complying with ~144 FAR/CFARs for any contract I work under, it's insane.

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