The answer? Simple: 42
Join Date: Aug 2005
Location: Da nortland. Yah.
If you get a refund, you're over paying. I used to think that if I didn't have to pay in, I was doing good. Until we started seeing how much they actually took out. Now, I pay quarterly estimated, corporate and personal income. I'd much rather do this than have them holding my money ransom and not get a penny of interest.
I agree though that if you're paying in high amounts as an employee, you're doing it wrong. Itemize the hell out of your deductions, even if you won't make them, it's shown. Also, hire an accountant.
All this being said, our tax system is totally effed the fook up. It's too complicated, and to quote Ronald Regan "Decidedly un-American." Flat tax. No deductions. No credits. Just a straight percentage of income earned. The fookers in Washington will always get a raise in taxes as people make more, and it'll be simplified as can be. Problem is though that it'll never happen.
BTW, I disagree with you MV. We Americans have every right to be pissed off and complain. This nation was founded on the principal of taxes without representation, and we broke away from Britain because of it. Now, we're going right back to where it was. Time for another Revolution IMO.