Quote:The thing is, rather than give the government that extra $20 per paycheck and waiting to get it back, why not put that $20 into an interest earning account?
I do that as well, that specific $20 a check just helps me cover if I end up owing.
Quote:The problem with that is, divide the population of the U.S. by the population of your country (Ireland) then do the math. Something like that is not sustainable.
The other problem is getting people that don't have a job to work. There are far too many lazy people that would happily live off of the government teet (tax paying citizens) rather than get off of their butts and go to work. Some think that just because they have a college degree they should be "entitled" to a job that pays higher wages. They would rather sit on their butts and collect welfare and/or unemployment than take a job that is "beneath them". I've seen it first hand.
Oh yeah don't get me wrong , the system we use is awful. It turns young people lazy and creates and entire sub section of society that is totally welfare dependent. From their view of it, why would they bother working when everything they do is paid for by the government.
Quote:I do that as well, that specific $20 a check just helps me cover if I end up owing.
I "owe" every year. The only physical check that I write every year is my tax check. I wait until April and send it via "snail mail" along with paper forms for them to process. If my tax dollars are paying for the IRS, I'm going to make them actually earn their paycheck.
I have my employer withhold the minimum from my paychecks, and the excess goes to my 401k and/or a money market account. I invest my MM account (actually a ROTH IRA) in the stock market. This past year I got a 9% return on my investment which is not REAL good, but it's not bad either. Had that money been sitting in a regular savings account I would be lucky if I earned 1% on it.
My point is, it's always better to keep as much of YOUR MONEY as possible, and try to grow it rather than give the government an interest-free loan.
Quote:I "owe" every year. The only physical check that I write every year is my tax check. I wait until April and send it via "snail mail" along with paper forms for them to process. If my tax dollars are paying for the IRS, I'm going to make them actually earn their paycheck.
I have my employer withhold the minimum from my paychecks, and the excess goes to my 401k and/or a money market account. I invest my MM account (actually a ROTH IRA) in the stock market. This past year I got a 9% return on my investment which is not REAL good, but it's not bad either. Had that money been sitting in a regular savings account I would be lucky if I earned 1% on it.
My point is, it's always better to keep as much of YOUR MONEY as possible, and try to grow it rather than give the government an interest-free loan.
Jag... You're going to scare the children!
And 9% is REALLY not bad!
If by refund they mean the distribution of others wealth then so freaking what. The word refund infers they paid some tax to begin with. They did not in all likelihood.
Quote:The thing is, rather than give the government that extra $20 per paycheck and waiting to get it back, why not put that $20 into an interest earning account?
have you seen the interest rate of return lately? very very low...unless you are going to put a large sum in an interest bearing account its really not worth it
Quote:I "owe" every year. The only physical check that I write every year is my tax check. I wait until April and send it via "snail mail" along with paper forms for them to process. If my tax dollars are paying for the IRS, I'm going to make them actually earn their paycheck.
I have my employer withhold the minimum from my paychecks, and the excess goes to my 401k and/or a money market account. I invest my MM account (actually a ROTH IRA) in the stock market. This past year I got a 9% return on my investment which is not REAL good, but it's not bad either. Had that money been sitting in a regular savings account I would be lucky if I earned 1% on it.
My point is, it's always better to keep as much of YOUR MONEY as possible, and try to grow it rather than give the government an interest-free loan.
My goal is to neither owe nor receive. The closer to zero I get the better.
You know the tax rules before you worked right? If you don't like it then leave...
Also with lower tax you would probably get paid less anyway.
Quote:I "owe" every year. The only physical check that I write every year is my tax check. I wait until April and send it via "snail mail" along with paper forms for them to process. If my tax dollars are paying for the IRS, I'm going to make them actually earn their paycheck.
I have my employer withhold the minimum from my paychecks, and the excess goes to my 401k and/or a money market account. I invest my MM account (actually a ROTH IRA) in the stock market. This past year I got a 9% return on my investment which is not REAL good, but it's not bad either. Had that money been sitting in a regular savings account I would be lucky if I earned 1% on it.
My point is, it's always better to keep as much of YOUR MONEY as possible, and try to grow it rather than give the government an interest-free loan.
If someone offered me a guaranteed 9% return on my investment accounts every year for the rest of my life, I'd ask where I sign up before they even finished the sentence. Sure, some years you can get a lot more, but for an average, it's good.
Quote:My goal is to neither owe nor receive. The closer to zero I get the better.
This is how we try to do it. We still end up getting a little back each year but we're not giving the government an interest free loan they could renege on if they really wanted to. Plus, more money for us to invest, pay off my surgery bills, etc.