And yes, I paid my taxes so that the retired, free loaders and illegals can live better.
After all the money I pay in the course of a year I still have to pay into the system on top of that. It seems that I am not dishonest enough or don't have the nerve to make claims on my tax work to avoid these large pay outs.
There are a few new tax deductions you may have missed.
Cat food
A junkyard-owning husband and wife routinely sprinkled cat food around the premises to tempt stray cats into hanging around. Their reason? The cats "took care of snakes and rats on the property, making the place safer for customers." Naturally, this attempted deduction did not pass unchallenged. But when the couple made their case that the cat food had been instrumental to keeping dangerous rodents away from their life-sustaining business, the IRS allowed the deduction to stand.
Ostrich depreciation
Businesses are used to depreciating standard equipment like computers, truck fleets and buildings. So, an ostrich farmer from Louisiana submitted a tax return that wrote off the depreciated value of his ostrich. Odd as it may sound, farmers are indeed allowed by the Internal Revenue Code to depreciate the value of their livestock provided they are being used for breeding (rather than producing food products for sale).
The interesting point would be how he got all his pets Social Security numbers so he could claim them. Sounds like a BS artist to me. Of course, he'd be in good company in SED.
Cheers
Phil Hobbs
--
Dr Philip C D Hobbs
Principal
ElectroOptical Innovations
55 Orchard Rd
Briarcliff Manor NY 10510
845-480-2058
email: hobbs (atsign) electrooptical (period) net
http://electrooptical.net
Several years ago, I knew a spanish fellow that would claim all of his pets as dependents. He got away with it for years. Last time I see him he was retired and hangs out at the local park all day in the summer time. I guess he never got caught. He used to laugh as he spoke about it, telling me how nice it move to live in America!
Most likely he used what numbers that look like SS#'s, He's not the only one i knew that did this. Back then, (1975 +/- days) it took way too long to track these people down. Most of those that got caught were turned in. You must remember how the IRS worked back then, they were nothing like they are now when it comes to tracking numbers. Today's computers make it easy now to cross reference usage's of SS#'s as returns are being turned in.
Roughly 1:1, but theoretically most of the SS tax is for SS, so most of the general needs have to be paid from income tax revenues. The numbers below are the US Treasury estimates(*) for FY2010.
(The estimates should be very close--the numbers total actual receipts for all but the last month.)
Sorry about the caps in my last post. I was annoyed listening to the tax-the-rich demagoguery / rhetoric from Congress. The proposed increase / "tax cut for millionaires" they're decrying totals $35 billion a year.
The deficit is $1,650 billion. To pretend like that issue that has _any_ relevance to our current fiscal situation is simply misdirection, if not plain lying.
Total income tax revenue is about $885B. We'd have to nearly triple everyone's income taxes to cover our current spending.
We have a spending problem, not a taxation problem.
Cheers, James Arthur ~~~~~~~~~~~~~~ (Source: U.S. Treasury, Monthly Treasury Statement,
formatting link
(view in fixed font) Budget Receipts (billions)
Individual Income Taxes ............................. 884,776
Corporation Income Taxes ........................... 180,240
Social Insurance and Retirement Receipts: Employment and General Retirement (Off-Budget) .... 631,164 Employment and General Retirement (On-Budget) .... 184,203 Unemployment Insurance............................ 44,960 Other Retirement .................................... 4,440 ------- 864,767
Excise Taxes ..........................................70,057 Estate and Gift Taxes .................................18,922 Customs Duties ........................................23,461 Miscellaneous Receipts ................................90,682 ------- 203,122
No problem, I can't really pay attention to the current 'silly' budget debate. There are a few people talking sense, but they are drowned out by the political silliness.
Hmm, I think we'll need some of both. But at least people are talking about it.
Hey, my State (NY) got the budget passed on time.... for like the first time in ten years!
Hey, here's an idea. This year's estimated deficit is $1,650B. The R's are pushing for $60B in cuts, the D's are crying bloody murder. If we instead slashed spending $500B _per_year_ AND doubled everyone's income tax, that would almost balance Barack's budget. (That assumes interest rates stay the same. They won't.)
The "baseline" Democrats are arguing from now is the too-high Bush level, plus the stimulus package. They're calling anything less than stimulus-level spending "a cut." That's insane.
I believe there's some rule that anything that isn't an increase is a "cut," since as a politician you're allowed to assume that, by default, spending
*will* increase every single year. :-)
Too bad no one is pushing for the "across-the-board cuts, let's worry about the specifics of which programs are worthy or not when we're not on the verge on bankruptcy" approach that I think both you and I agreed to as useful.
Ok, I'll pay those taxes with out complaint if you are willing to buy a new car for my wife.
Seeing a new $40k Darrango sitting in the yard just recently purchased by a kid I have living at home at 29 years old, paying 0, eating my food, sucking up my light bill is kind of bothering me at the moment.
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