Another Tax Question?

Some one asked earlier if only people who paid taxes should be able to vote as to spread the pain and give everyone a stake in the system. A good question.

Here is my question. Should withholding be stopped? Right now the government takes out money every pay check for Income Taxes, Social Security Tax, Medicare, State Income and State SDI, some people have a City Income tax too.

At the end of the tax year you file your taxes and you might get a little bit back and you are stoked, 'woo hoo', money back.

Here is my question, if there was no withholding, you make $70,000 a year and on April 14 you sat down and wrote checks for the following:

$10,000 to the feds for income tax
$ 900 to the feds for Medicare
$ 3,900 to the feds for Social security
$ 3,200 to the state for income tax
$ 700 to the state for SDI

$18,700 total.

If you had to write five checks to the government for $18,700 in one day do you think taxes would be as high as they are?

R T2009-11-12T21:26:46Z

Favorite Answer

I agree. Everyone should have to pay their taxes, in cash, on a particular day every year. If they knew how much they were really paying, there would be a revolt.

Anonymous2009-11-16T11:29:18Z

I make $70,000 a year and those seem really accurate to me.

It doesn't even figure in the other taxes we pay on everything else.

If we had to write 5 checks a year on one day to the tax man you would see people clamoring to repeal the 16th Amendment.

Schiffy2009-11-12T21:25:55Z

People used to claim exempt and do precisely that. The IRS was so used to living off the interest of our own money they amended the tax code to forbid that. If it went back to old way we would in fact pay more.

Steve2009-11-12T21:23:58Z

First off we make 70,000 a year and those numbers are not accurate.

John in PA2009-11-12T21:26:06Z

No.