Taxes

[chasman]

I for one would love a flat tax. But if they did that they would most likely remove a lot of the deductions for your taxable income.

Like your 401 and real estate taxes.

 

[Tim]

I owe a lot, what else is new?

 

[Shantz My Pants]

I worked a total of 3 different jobs this year.



I ended up getting back about $900.



First I was going to get back 600 from Job A.



Then Job B didn't take out FICA so I'd actually owed 400.



Then because of me paying for all of my full time school, I got 800 back.



but job C didn't take out FICA so I had to pay 100.



I did donate my old Blazer to KARS4KIDS, but i didn't get anything back from the gov. because of the school credit.



All in all I am happy because I was able to pay down a credit card, and used the rest for bills that I wanted to get a head on.

 

[winos5]

We paid (joint return) $17,000+ in federal taxes. Owed about $4000 after preparing the return. That's about 16% of our adjusted income for tax purposes and @ 11% of our gross income this year. I expect hat to go up over the next 4 years as Obamacare reportedly will eliminate our cafeteria plan for healthcare deductions. A Flat tax interests me greatly. Thank god Texas does not have State income taxes.

 

[jakobeast]

I for one would love a flat tax. But if they did that they would most likely remove a lot of the deductions for your taxable income.

Like your 401 and real estate taxes.

That may not be a bad thing.The tax law is way complicated, and removing those deductions and other ones would streamline stuff. Add to that, many people who don't pay now will be paying more, and using wino's example, would save him more monies, allowing him to spend more on his home brewing supplies, and supporting small businesses that sell that stuff and stimulating the economy.



I guess I would have to actually pour through a bunch of tax stuff to see if that 10% would save money for most.

 

[IceHogsFan]

Monday, March 21, 2011



Prominent Illinois Politician Votes WIth Feet: Moves to Texas



Illinois Review has the amazing goodbye letter from

Former State Senator and Republican Cook County Board President candidate Roger Keats and his wife Tina are leaving Illinois to live in Texas.

Here's the disturbing letter:

GOOD BYE AND GOOD LUCK



As we leave Illinois for good, I wanted to say goodbye to my friends and wish all of you well. I am a lifelong son of the heartland and proud of it. After 60 years, I leave Illinois with a heavy heart. BUT enough is enough! The leaders of Illinois refuse to see we cant continue going in the direction we are and expect people who have options to stay here. I remember when Illinois had 25 congressmen. In 2012 we will have 18. Compared to the rest of the country we have lost 1/4rd of our population. Dont blame the weather, because I love 4 seasons.



Illinois just sold still more bonds and our credit rating is so bad we pay higher interest rates than junk bonds! Junk Bonds! Illinois is ranked 50th for fiscal policy; 47th in job creation; 1st in unfunded pension liabilities; 2nd largest budget deficit; 1st in failing schools; 1st in bonded indebtedness; highest sales tax in the nation; most judges indicted (Operations Greylord and Gambat); and 5 of our last 9 elected governors have been indicted. That is more than the other 49 states added together! Then add 32 Chicago Aldermen and (according to the Chicago Tribune) over 1000 state and municipal employees indicted. The corruption tax is a real cost of doing business. We are the butt of jokes for stand up comics.



We live in the most corrupt big city, in the most corrupt big county in the most corrupt state in America. I am sick and tired of subsidizing crooks. A day rarely passes without an article about the corruption and incompetence. Chicago even got caught rigging the tests to hire police and fire! Our Crook County CORPORATE property tax system is intentionally corrupt. The Democrat State Chairman who is also the Speaker of the Illinois House and the most senior alderman in Chicago each make well over a million dollars a year putting the fix in for their clients tax assessments.



We are moving to Texas where there is no income tax while Illinois just went up 67%. Texas sales tax is of ours, which is the highest in the nation. Southern states are supportive of job producers, tax payers and folks who offer opportunities to their residents. Illinois shakes them down for every penny that can be extorted from them.



In The Hill Country of Texas (near Austin and San Antonio) we bought a gracious home on almost 2 acres with a swimming pool. It is new, will cost us around 40% of what our home in Wilmette just sold for and the property taxes are 1/3rd of what they are here. Crook Countys property tax system is a disaster: Wilmette homes near ours sell for 50% more and their property taxes are of ours. Our assessed home value was 50% higher than the sales price. The system is unfair and incompetent.



Our home value is down 40%, our property taxes are up 20% and our local schools have still another referendum on the ballot to increase taxes over 20% in one year. I could go on, but enough is enough. I feel as if we are standing on the deck of the Titanic and I can see the icebergs right in front of us. I will miss our friends a great deal. I have called Illinois home for essentially my entire life. But it is time to go where there is honest, competent and cost effective government. We have chosen to vote with our feet and our wallets. My best to all of you and Good luck!





Joseph Ciaccio

President, Illinois Railroad Association

408 South Fifth Street, Suite 200

Springfield, IL 62701

Office: 217/753-8739

Fax: 217/753-3439





Member Lines and Associate Members



Alton and Southern, Belt Railway Company of Chicago,

BNSF Railway, Canadian Pacific,

Chicago Rail Link, CN, CSX, Illinois & Midland,

Indiana Harbor Belt, Indiana Rail Road,

Kankakee, Beaverville and Southern, Kansas City Southern,

Norfolk Southern, Railway Supply Institute,

Terminal Railroad Association of St. Louis,

Union Pacific

 

[Spunky Porkstacker]

Monday, March 21, 2011



Prominent Illinois Politician Votes WIth Feet: Moves to Texas



Illinois Review has the amazing goodbye letter from

Former State Senator and Republican Cook County Board President candidate Roger Keats and his wife Tina are leaving Illinois to live in Texas.

Here's the disturbing letter:

GOOD BYE AND GOOD LUCK



As we leave Illinois for good, I wanted to say goodbye to my friends and wish all of you well. I am a lifelong son of the heartland and proud of it. After 60 years, I leave Illinois with a heavy heart. BUT enough is enough! The leaders of Illinois refuse to see we cant continue going in the direction we are and expect people who have options to stay here. I remember when Illinois had 25 congressmen. In 2012 we will have 18. Compared to the rest of the country we have lost 1/4rd of our population. Dont blame the weather, because I love 4 seasons.



Illinois just sold still more bonds and our credit rating is so bad we pay higher interest rates than junk bonds! Junk Bonds! Illinois is ranked 50th for fiscal policy; 47th in job creation; 1st in unfunded pension liabilities; 2nd largest budget deficit; 1st in failing schools; 1st in bonded indebtedness; highest sales tax in the nation; most judges indicted (Operations Greylord and Gambat); and 5 of our last 9 elected governors have been indicted. That is more than the other 49 states added together! Then add 32 Chicago Aldermen and (according to the Chicago Tribune) over 1000 state and municipal employees indicted. The corruption tax is a real cost of doing business. We are the butt of jokes for stand up comics.



We live in the most corrupt big city, in the most corrupt big county in the most corrupt state in America. I am sick and tired of subsidizing crooks. A day rarely passes without an article about the corruption and incompetence. Chicago even got caught rigging the tests to hire police and fire! Our Crook County CORPORATE property tax system is intentionally corrupt. The Democrat State Chairman who is also the Speaker of the Illinois House and the most senior alderman in Chicago each make well over a million dollars a year putting the fix in for their clients tax assessments.



We are moving to Texas where there is no income tax while Illinois just went up 67%. Texas sales tax is of ours, which is the highest in the nation. Southern states are supportive of job producers, tax payers and folks who offer opportunities to their residents. Illinois shakes them down for every penny that can be extorted from them.



In The Hill Country of Texas (near Austin and San Antonio) we bought a gracious home on almost 2 acres with a swimming pool. It is new, will cost us around 40% of what our home in Wilmette just sold for and the property taxes are 1/3rd of what they are here. Crook Countys property tax system is a disaster: Wilmette homes near ours sell for 50% more and their property taxes are of ours. Our assessed home value was 50% higher than the sales price. The system is unfair and incompetent.



Our home value is down 40%, our property taxes are up 20% and our local schools have still another referendum on the ballot to increase taxes over 20% in one year. I could go on, but enough is enough. I feel as if we are standing on the deck of the Titanic and I can see the icebergs right in front of us. I will miss our friends a great deal. I have called Illinois home for essentially my entire life. But it is time to go where there is honest, competent and cost effective government. We have chosen to vote with our feet and our wallets. My best to all of you and Good luck!





Joseph Ciaccio

President, Illinois Railroad Association

408 South Fifth Street, Suite 200

Springfield, IL 62701

Office: 217/753-8739

Fax: 217/753-3439





Member Lines and Associate Members



Alton and Southern, Belt Railway Company of Chicago,

BNSF Railway, Canadian Pacific,

Chicago Rail Link, CN, CSX, Illinois & Midland,

Indiana Harbor Belt, Indiana Rail Road,

Kankakee, Beaverville and Southern, Kansas City Southern,

Norfolk Southern, Railway Supply Institute,

Terminal Railroad Association of St. Louis,

Union Pacific

Great letter ! The part that kills me is Madigan, Cullerton, Quinn know things are this bad but continue to cater to the same infuences that have brought this mess upon us in the 1st place.

 

[MassHavoc]

I'm confused, is the letter from Keats or Joseph Ciaccio?

 

[bubbleheadchief]

I normally dont reply to things like this, as it is really no one's business but ours what we made or had to pay. BUT, we did suprisingly well this year, getting back about $200 less then last year, but still getting a nice chunk back. I have always had a huge heartache with military even paying an income tax. When you think about it, we pay ourselves to work, kind of Special person when you think about it.



Next years taxes scare me......I sold back my unused leave (maxed it out) and that chunk-o'-cash is going to hurt me.

 

[jakobeast]

I normally dont reply to things like this, as it is really no one's business but ours what we made or had to pay. BUT, we did suprisingly well this year, getting back about $200 less then last year, but still getting a nice chunk back. I have always had a huge heartache with military even paying an income tax. When you think about it, we pay ourselves to work, kind of Special person when you think about it.



Next years taxes scare me......I sold back my unused leave (maxed it out) and that chunk-o'-cash is going to hurt me.

I am a big fan of the idea of military not paying taxes. As you said, you are paying yourself, and also, maybe that may get a few more volunteers to replace the old coots like yourself that are leaving.

 

[R K]

I am a big fan of the idea of military not paying taxes. As you said, you are paying yourself, and also, maybe that may get a few more volunteers to replace the old coots like yourself that are leaving.

I'd agree with that except those that are making 100k per year or more. IE the Generals, Admirals, ect ect ect..



Remember housing is free, medical is free.....



There is also something if you are working out of the country for 300 or more days of the year you are exempt as well. At least I think that's how that worked.

 

[IceHogsFan]

I'd agree with that except those that are making 100k per year or more. IE the Generals, Admirals, ect ect ect..



Remember housing is free, medical is free.....



There is also something if you are working out of the country for 300 or more days of the year you are exempt as well. At least I think that's how that worked.

Should not have anything to do with how much they make. I am tired of the class warfare BS. Everyone pays the same amount IMO. POTUS is going to say tomorrow about how those who make $250,000 or more should pay more, AGAIN. How about everyone paying an equitable %?



As far as the military goes I agree with not having to pay federal taxes. Aren't some hazardous duty pays federally tax free? What about individual states and what they charge as income tax, how many do not make military members pay state income tax?

 

[MassHavoc]

We did pretty good this year since I was on unemployment for a couple of month at which time I pay the taxes on, and my wife was in school so we got the lifetime learning credit. Got my biggest return in as long as I can remember. My adjusted rate was about 5 percent federal, and for the first time since I lived here I got state taxes back.

 

[R K]

Should not have anything to do with how much they make. I am tired of the class warfare BS. Everyone pays the same amount IMO. POTUS is going to say tomorrow about how those who make $250,000 or more should pay more, AGAIN. How about everyone paying an equitable %?



As far as the military goes I agree with not having to pay federal taxes. Aren't some hazardous duty pays federally tax free? What about individual states and what they charge as income tax, how many do not make military members pay state income tax?

Sorry I disagree. And thats coming from someone who is in that class I want taxed.



I'd be ok with the equitable percentage but in a nut shell thats the exact same fucking thing. Those that make more, would pay more. It's that easy. Instead this country rewards those that make more, which in turn helps them PAY LESS.

 

[IceHogsFan]

Sorry I disagree. And thats coming from someone who is in that class I want taxed.



I'd be ok with the equitable percentage but in a nut shell thats the exact same fucking thing. Those that make more, would pay more. It's that easy. Instead this country rewards those that make more, which in turn helps them PAY LESS.

Until the federal government can reign in their ridiculous spending I will not favor any federal tax increase on anybody. Every dollar more that we give them is more control they have over us.

 

[R K]

Until the federal government can reign in their ridiculous spending I will not favor any federal tax increase on anybody. Every dollar more that we give them is more control they have over us.

Good Luck. At some point something is going to happen soon. Political parties aside they are going to have to realize this sooner or later.



I think a combination of rediculous spending and TAX increases will be needed to reduce the 14 Trilion.



I'm more than willing to do my part so my gererations to come are not screwed.

 

[IceHogsFan]

Good Luck. At some point something is going to happen soon. Political parties aside they are going to have to realize this sooner or later.



I think a combination of rediculous spending and TAX increases will be needed to reduce the 14 Trilion.



I'm more than willing to do my part so my gererations to come are not screwed.

I think the citizens are beginning to get it and are becoming more educated on our national spending issues. They are also voting for those that represent their views. Some in the political world get it and more and more of them are seeing the fury that the public has with the out of control spending. I am glad to see those fighting the establishment regarding the budget. You can claim it is all politics but if the Democrats had not taken it in the A$$ in the last election we would not see the debate in DC righ now that we are witnessing. The people are speaking... and for once, they are being heard...

 

[R K]

I think the citizens are beginning to get it and are becoming more educated on our national spending issues. They are also voting for those that represent their views. Some in the political world get it and more and more of them are seeing the fury that the public has with the out of control spending. I am glad to see those fighting the establishment regarding the budget. You can claim it is all politics but if the Democrats had not taken it in the A$$ in the last election we would not see the debate in DC righ now that we are witnessing. The people are speaking... and for once, they are being heard...

Bullshit.

 

[BigPete]

In addition to having a flat tax, you simply can't allow individuals or corporations to evade paying. GE should be paying just like I do. But instead they are a publicly traded company that now records its HQ as 'offshore' so they get away with paying nothing. (the thing about a refund was BS, if you didn't know that by now) But they still got away with paying $0.00 on billions of dollars of sheer good ole profit. WHY?



Plain and simple, we have to revolutionize the way we collect taxes here in the states, or just collect them the way they were intended and not with a million loopholes.

 

[BigPete]

I'd agree with that except those that are making 100k per year or more. IE the Generals, Admirals, ect ect ect..



Remember housing is free, medical is free.....



There is also something if you are working out of the country for 300 or more days of the year you are exempt as well. At least I think that's how that worked.

Very little of what you said here is currently true. Much has changed from whenever this may have actually been the way it worked.



The idea at play here is that they should be exempt because if you think about it, they receive a take home pay of X dollars ALL from public (taxes) funds. Now you want them to pay into the pool too? Why not just pay them 20 or 30% less and call it even? Seems kind of silly... The only time they make out well is when they are deployed or stationed oversears and receive tax exemptions from US federal taxes.