This is all well and good but I think these demonstrations are drifting in their purpose. This isn't just about taxes but a general disgust with the ways of Beltway. But as far as taxes an emphasis needs to be directed at the payroll tax.
Having just recently filed my taxes I went back on Turbo Tax and did some 'what if's'. I first took a look into just giving the money to charity. When I put in a 12K deduction I only got about a 2K reduction in my taxes. So I kept running the number up until I had given it all away. I would still owe $6700 in payroll tax. It is permanent. No way around it.
I ended up paying about 10% of my gross in income tax. If people focus on that then they don't have much of a case. Some place could easily have sales tax that high. I felt it was not really all that bad and wouldn't be able to workup any kind of ire at that. It is the payroll tax to pay for entitlements that is killing us. Given an aging population and a young semi-educated potential under-class..... Washington...we have a problem.
So I just think this T.E.A. movement needs to flesh out a broader target than just personal income taxes. That dog won't hunt. The issue facing us is liberal spending and growing entitlements. The democrats want to add to this health care when we can't even pay for the programs we already have.
But then again who am I to question the brilliance of the democrats who got us into this situation.
Having just recently filed my taxes I went back on Turbo Tax and did some 'what if's'. I first took a look into just giving the money to charity. When I put in a 12K deduction I only got about a 2K reduction in my taxes. So I kept running the number up until I had given it all away. I would still owe $6700 in payroll tax. It is permanent. No way around it.
I ended up paying about 10% of my gross in income tax. If people focus on that then they don't have much of a case. Some place could easily have sales tax that high. I felt it was not really all that bad and wouldn't be able to workup any kind of ire at that. It is the payroll tax to pay for entitlements that is killing us. Given an aging population and a young semi-educated potential under-class..... Washington...we have a problem.
So I just think this T.E.A. movement needs to flesh out a broader target than just personal income taxes. That dog won't hunt. The issue facing us is liberal spending and growing entitlements. The democrats want to add to this health care when we can't even pay for the programs we already have.
But then again who am I to question the brilliance of the democrats who got us into this situation.
1 comment:
it has been difficult for one of the tea party groups i belong to to stay focused - quite frankly, iopian - people are just frustrated with every aspect of government - payroll taxes is one thing, but they're wanting to tax EVERYTHING else too! we already have some of the highest sales taxes in arkansas.
one important issue everyone needs to get on the same page (or at least the same chapter) is the choices of candidates we'll have in the next elections and conservative people ARE fed up with the republicans.
rock, meet hard place.
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