UGGGGH!

[fantastic_jackie]

I lost OVER a THIRD of my paycheck this week to taxes! It's actually boardering on 40%! This is ridiculous! Because of the bonus!

I practically lost my entire regular paycheck to taxes. I got a whole... $18 in compensation for work last week, if you want to look at it that way. Or I lost half the bonus. Whichever. The total paycheck was over tripple what I make in a week, and I don't even get to receive double.

This is - That - I can't believe - Well, I expected, but - GAH!

FAIR TAX! FAIR TAX! FAIR TAX!

Comments

[mrstater.livejournal.com]

Not exactly. It's ridiculously complicated. Check out this really thorough breakdown of how the fair tax works and what it would entail (http://www.factcheck.org/taxes/unspinning_the_fairtax.html).

I do feel your pain on the bonus. Mr. Tater got one last week and was rather dismayed at bonuses getting taxed higher than regular income. But it's still free money we wouldn't have had before...

[patriot-jackie.livejournal.com]

Sweet! Thanks; I'll check it out. (I love FactCheck.org.) Last I checked into the Fair Tax, it was a good 4 or 6 months ago at FairTax.org. I don't remember all the details I should about it - I just know that I really liked what I read.

As for the bonus, I'd be perfectly fine with it being taxed like that (well, not really, but you know) except that it's added to my regular paycheck, so my regular paycheck gets those higher taxes, as well.

However, I put a ton of money tax deferred into my 401k, so FWA-HA! I stuck it to the IRS. Sort of. lol

[mrstater.livejournal.com]

You might change your mind about what you read at Fact Check. It really boggles my mind but I don't like it at all, especially things that would be taxed under the Fair Tax that wouldn't have before -- especially not at such an exorbitant rate.

That's not right that your full paycheck got taxed like that. Why is it done like that?

[patriot-jackie.livejournal.com]

Well, reading that, it just ticks me off that it's revenue neutral, and the taxation of doctor's visits is a bit asinine. Which, I suppose it would make sense that it would have to be revenue neutral; that was kind of absurd to think it would magically be able to decrease the tax burden, which was my biggest reason for supporting it. I don't agree with this, though:

It is possible that the FairTax would make most people better off, but much of that gain would be a direct result of making the tax code less fair. - by Joe Miller

Much as I hate how much taxes I have to pay, reducing the tax burden on the rich would actually be more fair, all things considered. I'm not anyone to say that they deserve to be taxed more, even if it does help me. - Unless he's referring the poor getting all those tax benefits...

Really, we just need the government to stop spending on retarded social programs. Which is never going to happen because people are too ready to play the victim with their hands out.

I found the 30 cent gas tax hike interesting, though: looks like we're doomed to that no matter who gets into office, considering McCain, Clinton, and Obama all three want it.

The next four years are gonna suck!

OH!

Why is it done like that?

Don't know; that's just how my company does things. It's completely wrong, though. I still can't believe I lost my entire paycheck for last week!

[mrstater.livejournal.com]

I think it sounds like your accounting department screwed up, because that can't be right. I'd check on it if I were you!

[patriot-jackie.livejournal.com]

Well, I got to keep 63%. >.> I'm not happy about it. But I have no idea how much they're supposed to withhold or what it's based on. It's a problem everyone complains about, though. And I doubt it will ever be fixed.

[terriayame.livejournal.com]

Haha...

Mr. Tater....

Hee hee...

Not sure why that's so funny...

~Jack Jack's Sissy