RE: Wealth Taxes Aren’t For The Rich
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I grew up paying taxes on everything so I didn't mind it.
And then I remember getting my first stimulus check. I think that The Terminator was our governor then.
It was explained to my very young naive self, who was very confused because she had just filed taxes only to find out she was getting a refund of more than she had been taxed, that the government didn't need my money.
I was more helpful to the economy by spending my money.
Now paying taxes is a whole burden. Annoyance that I have to pay and walmart doesn't. Guilty because if I find too many loopholes and don't have to pay and everyone else finds those loopholes than maybe that is why Bar Area roads suck so much?
But I'm middle class, I always pay something.
I don't have a choice really I am not wealthy enough to qualify for the loopholes, I just do what I can with what I can retain as mine.
I don't think that's totally the case here in South Africa though, all government projects are way over budget and you also actively have an incentive to blow your budget, so lets say I am my citys roads guy, if I come in short and still get the job done, I don't get a "thanks for saving us money".
I get my budget slashed and it's given to those who allocate it more poorly. So here it's all about making sure you burn through the yearly cash regardless of how much it cost/deflation on goods and services as we improve them. So you can get more cash in the future.
So you'd probably think well-overpaying means you still get better roads not at all, people just up and run away with the cash, still cut corners and use shit material and so you get a poorer product for a higher price
So its a race to the bottom!
Right, overpaying does not lead to better roads. Surely.
The "loopholes" here are more about getting your paperwork in order.
Me for example, was happy being a live in Ms. but I found out that if I became a Mrs. my family would save a TON on taxes. So I walked the aisle.
There are other simple things like claiming different households, breaking up the four kids into "his" and "mine." Getting "pay as you go" health insurance, and then deducing every time you go to the Dr. And my latest for 2021 will be to file an LLC - I've been meaning to do that for a few years.
Like another one of your commentators said, its not like the tax rules are a secret, but there sure are a whole lot of them, and keeping up to date with them takes some work.
I realise they are not a secret but surly if this is PUBLIC knowledge it should be taught no? Shouldn't it be part of your schooling? the distribution of this knowledge and the language used to provide that information is to me purposefully done this way hoping people ignore it and don't exercise their full rights
Yes, it is public knowledge.
I can tell you that they have the forms at the Public Library, easily accessible to all, and there are instructions, and boxes to fill out.
I don't know how it is done now because of covid.
But filling out those forms in not 1 + 1 = 2
There are an infinite amount of possibilities.
Do you write off your dry cleaning? How about your gas to get to work. If your husband gambled thousands away can you write it off?
So yes, this is public knowledge "all" you have to do is find the information and apply it correctly.
My sister, a finance graduate, won't do her own taxes. I pay to use a computer program. Many people pay 'tax professionals' to take care of their taxes.