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Forum ยป Tax refunds down 57% so far this year
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Thread: Tax refunds down 57% so far this year

post 1697921043 02-15-2024, 10:59 PM
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Waiting for the CNN/MSNBC, "And This Is Why It's A Good Thing" talking points.
Originally Posted By XterraRob⏩
It is when that money would otherwise go to Israel or Ukraine.

I wish we could elect what our tax money gets allocated to. I don't mind paying taxes, but no more bribing countries to let us engage in money laundering.
Agreed.

Congress members are supposed to serve and represent their states but they basically go rogue for 2/6 years as soon as their elected. There should be a constitutional amendment for senatorial and representative recalls bare minimum because nothing keeps these cronies in check outside of the rare case when they all get together and decide to do the ousting. I wouldn't be the least bit shocked if it still came with the political equivalent of a golden parachute behind the scenes.

I mean, ideally there would be a vote to be held any time these pricks get another spontaneous urge for a spending bill entailing some form of corporal punishment to be held and televised outside the Capitol.

In a similar light, imagine if the government was required to give every American an itemized record in return. Fair's fair, after all, and maybe more people would become a bit more cognizant of how reckless our government is when it comes to doling out checks to everyone except American interests.
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post 1697925693 02-16-2024, 05:06 AM
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Originally Posted By XterraRob⏩
US taxpayer funds should only be delivered to Israel and Ukraine in the form of nuclear weapon detonations over both countries.
And it still wouldn't change your tax bill or refund. Your inability to understand this simple concept is truly amazing
post 1697925743 02-16-2024, 05:09 AM
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Originally Posted By Fishman15⏩
Mortgage interest and homeowner property tax used to be enough to make it worthwhile to itemize. Not any more. I even did 10's of thousands of $ in homeowner improvements/renovations. Still not enough, in fact had my home completely resided painted and it didn't even count. Unless you put in new, more "climate change" approved windows with it, it didn't mean chit. Basically they just count it as maintenance now. Have just been taking the standard deduction for several years now. I'm sure if you have multiple properties you could probably make it work...
But doing something for the "tax break", such as carrying a mortgage, never made mathematical sense... Pay $20,000 in interest to "save" $4,800 on taxes...?
post 1697925873 02-16-2024, 05:13 AM
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Originally Posted By Bushmaster⏩
Not sure if serious.

Where the hell do you think these hundreds of billions to Ukraine is coming from? The hundreds of millions to feed, house, and provide illegals with healthcare? That comes from our taxes bro. And I don't know about you, but personally I want to minimize every single penny of it that I can.
It comes from massive newFederal DEBTevery year. Explain exactly how you think your taxes (and/or tax law) change because Congress passes yet another spending bill which doesn't alter tax law...

Of course I try to (legally) minimize my taxes - but foreign aid packages have no effect on that.

What the government spends money on, and where that money comes from, are two ridiculously unrelated things in our current government.
post 1697926193 02-16-2024, 05:29 AM
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Originally Posted By nutsy54⏩
It comes from massive newFederal DEBTevery year. Explain exactly how you think your taxes (and/or tax law) change because Congress passes yet another spending bill which doesn't alter tax law...
Dude... no.

"The government" will not even have one single penny if it weren't for us paying taxes.

And I never said anything about any tax law or spending bill. But at its most fundamental and basic kindergarten crayon level, your taxes = federal spending.
Originally Posted By nutsy54⏩
Of course I try to (legally) minimize my taxes - but foreign aid packages have no effect on that.
Again - the money you pay in taxes = federal spending 24/7/365. You minimize the amount YOU owe in order to benefit YOU.. And no, a tax break of $5 or whatever won't ever be a drop in the bucket when compared to another $100 billion to Ukraine, but it's still $5 that you didn't flush down the toilet.
Originally Posted By nutsy54⏩
What the government spends money on, and where that money comes from, are two ridiculously unrelated things in our current government.
"What the government spends money on, and where that money comes from, are two ridiculously unrelated things"

FML dude.. they couldn't be MORE related, and you could not possibly be more wrong lol. One more time... "The government" does not and will not ever have $1.00 to spend if it weren't for the money it takes from us in taxes. This is very basic high school civics bro.
Originally Posted By nutsy54⏩
But doing something for the "tax break", such as carrying a mortgage, never made mathematical sense... Pay $20,000 in interest to "save" $4,800 on taxes...?
First off, nobody carries a mortgage for a tax break. You carry one to own a house.. The tax break on interest is just a benefit.

But pay $20k towards a property you own and saving money vs. NOT paying anything towards a property you own and not saving money on taxes.. Yeah that makes perfect mathematical sense... (jon hamm dot gif)

But you know if you rent you're paying your landlord's mortgage AND his interest - who will then write it off his own taxes, right?

But you don't have to believe me though... keep it simple and file that 1040-EZ every year.
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post 1697930163 02-16-2024, 07:43 AM
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Originally Posted By Bushmaster⏩
Dude... no.

"The government" will not even have one single penny if it weren't for us paying taxes.

And I never said anything about any tax law or spending bill. But at its most fundamental and basic kindergarten crayon level, your taxes = federal spending.
What in the world are you talking about? Tax revenue is completely disconnected from government spending. That's why the debt keeps going up. You know how they always love to brag about that one year they "balanced the budget?" That's because one time they actually weren't spending more than taxes brought in.

Inflation is out of control because they're spending wildly more than revenue. The dollar has been devalued. If they took in $0 in taxes, it just means their deficit spending is higher.
post 1697930563 02-16-2024, 07:53 AM
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Originally Posted By Dan_S⏩
What in the world are you talking about? Tax revenue is completely disconnected from government spending.That's why the debt keeps going up. You know how they always love to brag about that one year they "balanced the budget?" That's because one time they actually weren't spending more than taxes brought in.

Inflation is out of control because they're spending wildly more than revenue. The dollar has been devalued. If they took in $0 in taxes, it just means their deficit spending is higher.
Where does the government get its money?

Is the revenue you get from your paycheck disconnected from your household spending?
Originally Posted By Dan_S⏩
If they took in $0 in taxes, it just means their deficit spending is higher.
That's kinda my point.. If you max out your credit card and keep spending - but don't have the $ to make the payments, then your deficit spending is higher too.
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post 1697932113 02-16-2024, 08:21 AM
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The government gets its money the second they appropriate it. They create the money, you don't. Comparing household spending to federal government spending is retarded.
post 1697934703 02-16-2024, 09:12 AM
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Originally Posted By Bushmaster⏩
Where does the government get its money?

Is the revenue you get from your paycheck disconnected from your household spending?



That's kinda my point.. If you max out your credit card and keep spending - but don't have the $ to make the payments, then your deficit spending is higher too.
The government gets its money from selling treasury notes and taxes, mostly from treasury notes because the government is broke af.
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post 1697945903 02-16-2024, 01:21 PM
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Originally Posted By Dan_S⏩
The government gets its money the second they appropriate it. They create the money, you don't. Comparing household spending to federal government spending is retarded.
Oh.. no need to pay taxes then, right?
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post 1697974933 02-17-2024, 06:16 AM
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Originally Posted By Bushmaster⏩
"The government" will not even have one single penny if it weren't for us paying taxes.

And I never said anything about any tax law or spending bill. But at its most fundamental and basic kindergarten crayon level, your taxes = federal spending.
Then explain why the Federal government is $34 TRILLION inDEBTif everything is directly paid via taxes...
Again - the money you pay in taxes = federal spending 24/7/365. You minimize the amount YOU owe in order to benefit YOU.. And no, a tax break of $5 or whatever won't ever be a drop in the bucket when compared to another $100 billion to Ukraine, but it's still $5 that you didn't flush down the toilet.
Again, TaxesPLUS DEBT= Federal Spending.
"What the government spends money on, and where that money comes from, are two ridiculously unrelated things"

FML dude.. they couldn't be MORE related, and you could not possibly be more wrong lol. One more time... "The government" does not and will not ever have $1.00 to spend if it weren't for the money it takes from us in taxes. This is very basic high school civics bro.
And you keep ignoring massive deficits andNEW DEBTevery year - $2 Trillion in new debt just in FY2023.
First off, nobody carries a mortgage for a tax break. You carry one to own a house.. The tax break on interest is just a benefit.
I've seen many people justify not paying off a mortgage early/quickly, because then they lose their "tax break".
But you know if you rent you're paying your landlord's mortgage AND his interest - who will then write it off his own taxes, right?
I didn't say anything about renting. I pointed to the mathematical stupidity of keeping a mortgage just for the "tax break". Pay the damn thing off as quickly as possible.
But you don't have to believe me though... keep it simple and file that 1040-EZ every year.
I've never filed an E-Z... as usual, resort to personal attacks and lies when you can't make your case
post 1697974993 02-17-2024, 06:18 AM
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Originally Posted By Bushmaster⏩
Where does the government get its money?
TaxesAND NEW DEBT.
Is the revenue you get from your paycheck disconnected from your household spending?
It is for everyone who racks up far more loans and credit card spending than they can afford, spending far more than their income every year.
That's kinda my point.. If you max out your credit card and keep spending - but don't have the $ to make the payments, then your deficit spending is higher too.
Now you're starting to get it. The federal government runs a perpetual, massive deficit. Spending FAR more than tax revenue every year.

In FY2023, the federal government...
Received $4.439 Trillion (mostly taxes)
Spent.... $6.134 Trillion

TAXES do not equal SPENDING, not by a long shot.
https://home.treasury.gov/news/press-releases/jy1829
Originally Posted By Bushmaster⏩
Oh.. no need to pay taxes then, right?
Why do you constantly try to argue with things that people never said?
post 1697975053 02-17-2024, 06:22 AM
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Originally Posted By nutsy54⏩
Then explain why the Federal government is $34 TRILLION inDEBTif everything is directly paid via taxes...
Because they spend more than they take in dumbass. You've got your covid bitch on now and are just arguing for the sake of having an argument - even though that never works out for you.

And I never said all the bills were paid bitch. I just said taxes = federal spending.
Originally Posted By nutsy54⏩
I've seen many people justify not paying off a mortgage early/quickly, because then they lose their "tax break".
Ok, and if they feel that benefits them, then more power to them.
Originally Posted By nutsy54⏩
I've never filed an E-Z... as usual, resort to personal attacks and lies when you can't make your case
You're the clueless fuk trying to tell me to withhold more from my paycheck in order to reduce business expenses lol.
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post 1697975173 02-17-2024, 06:27 AM
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Originally Posted By Bushmaster⏩
Originally Posted By Bushmaster⏩
"The government" will[color=blue]not even have one single penny if it weren't for us paying taxes[color].

And I never said anything about any tax law or spending bill. But at its most fundamental and basic kindergarten crayon level, your taxes = federal spending.
Because[color=blue]they spend more than they take in[color]dumbass. You've got your covid bitch on now and are just arguing for the sake of having an argument - even though that never works out for you.
So you finally get it - taxesDON'Tequal government spending. Someone paying less or more taxesDOESN'Thave any connection to actual government spending.
But keep up the Covid derangement, which has absolutely nothing to do with taxes
Ok, and if they feel that benefits them, then more power to them.
Feelingsdon't equal math and reality.
You're the clueless fuk trying to tell me to withhold more from my paycheck in order to reduce business expenses lol.
What the hell does that have to do with your lie that I files the E-Z? How does withholding more change/reduce your business expenses? Your replies are getting more and more irrational.
post 1697975483 02-17-2024, 06:41 AM
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Originally Posted By nutsy54⏩
So you finally get it - taxesDON'Tequal government spending. Someone paying less or more taxesDOESN'Thave any connection to actual government spending.
But keep up the Covid derangement, which has absolutely nothing to do with taxes
Nutsyonchin.. listen. You're talking about government OVERSPENDING. Pissing away money that it doesn't have... That's a separate issue from what I'm talking about. Taxes at it's most basic = money for defense and infrastructure, etc. What the government DOES with the money it gets from taxes is an abomination and something that I think we can all agree on.

And I never said less individual taxes = less government spending. In fact I was pretty clear when I told you"You minimize the amount YOU owe in order to benefit YOU.. And no, a tax break of $5 or whatever won't ever be a drop in the bucket when compared to another $100 billion to Ukraine, but it's still $5 that you didn't flush down the toilet."
Originally Posted By nutsy54⏩
What the hell does that have to do with your lie that I files the E-Z?How does withholding more change/reduce your business expenses?
It doesn't. That was YOUR point when you were queefing about refunds bro.
Originally Posted By nutsy54⏩
OK... But don't you have a decent idea of your upcoming business expenses, so you can adjust your withholding accordingly?
And congrats on not filing a 1040-EZ... I guess lol. Whatever you use though the point still stands that you don't know WTF you're talking about.. Start a business of your own and get back to me.
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post 1697980343 02-17-2024, 08:50 AM
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Originally Posted By frankdtank20⏩


A hell of a lot less people getting a refund this year, and refunds are smaller. See figures in the link. My guess is car dealers are going to get demolished. Normally right about now prices go up because so many people spend their refunds on cars. Not this year dealership boyos!!
I work in preowned sales at a Chevy dealer. Having a great month. Trending 105 for just over 400 grand as of yesterday. In the shortest month of the year.
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