Wednesday, April 15, 2009

Happy Tax Day

Since I am retired I have to pay quarterly estimated taxes plus usually a certain amount on "tax day."  Many people don't really know how much they pay in taxes since it is taken out of their paychecks each week / biweekly / monthly.  Many people think that they don't pay any taxes since they get a refund each year.

Add up the withholding, add up your real estate taxes, add the sales tax on each purchase, add in various fees, add the amount on any capital gains or dividends, add in the gas taxes on each gallon, etc., etc.  This is a staggering amount.

A refund is only the amount that you overpaid in withholding not free money from the government plus you lose the interest on that money if you have put it in a savings account.

Happy Tax DAY!

In levying taxes and in shearing sheep it is well to stop when you get down to the skin. Austin O'Malley

The way taxes are, you might as well marry for love.  Joe E. Lewis

I wouldn't mind paying taxes… if I knew they were going to a friendly country.  Dick Gregory

If Thomas Jefferson thought taxation without representation was bad, he should see how it is with representation. Rush Limbaugh

Next to being shot at and missed, nothing is quite as satisfying as an income tax refund.  F. J. Raymond

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