Did Government say this about income tax? (10 pts)?
919804
I believe that the Federal Income Tax was instituted during World War I, to pay for the war.\n\nObviously, whoever said that the government could "never be able to spend all these taxes" had no idea what politicians can do with someone else's money.
51339
No, it shouldn't be. It is a loan that you have to pay back (with interest). Income is taxable.
608670
The present Income Tax Rates for Financial Year 2005-2006 ( A Y 2006-2007 ) are as follows -\n\nFor Individuals ( Women )\n\nIncome not exceeding Rs.1,35,000/-\n-- Nil\nIncome exceeding Rs.1,35,000/- but does not exceed Rs.1,50,000/-\n-- 10% of excess over Rs.1,35,000/-\nIncome exceeding Rs.1,50,000/- but does not exceed Rs.2,50,000/-\n-- Rs.1,500/- + 20% of excess over Rs.1,50,000/-\nIncome exceeding Rs.2,50,000/-\n-- Rs.21,500/- + 30% of excess over Rs.2,50,000/-\n\nIf Income exceed Rs.10,00,000/- Surcharge @10% of Income Tax\n\nEducation Cess @2% of Income Tax and Surcharge, if any\n\nFor Individuals ( Senior Ceitizan-Attains 65 years )\n\nIncome not exceeding Rs.1,80,000/-\n-- Nil\nIncome exceeding Rs.1,80,000/- but does not exceed Rs.2,50,000/-\n-- 20% of excess over Rs.1,80,000/-\nIncome exceeding Rs.2,50,000/-\n-- Rs.14,000/- + 30% of excess over Rs.2,50,000/-\n\nIf Income exceed Rs.10,00,000/- Surcharge @10% of Income Tax\n\nEducation Cess @2% of Income Tax and Surcharge, if any\n\nFor Individuals ( Others ) / HUF / AOP / BOI\n\nIncome not exceeding Rs.1,00,000/-\n-- Nil\nIncome exceeding Rs.1,00,000/- but does not exceed Rs.1,50,000/-\n-- 10% of excess over Rs.1,00,000/-\nIncome exceeding Rs.1,50,000/- but does not exceed Rs.2,50,000/-\n-- Rs.5,000/- + 20% of excess over Rs.1,50,000/-\nIncome exceeding Rs.2,50,000/-\n-- Rs.25,000/- + 30% of excess over Rs.2,50,000/-\n\nIf Income exceed Rs.10,00,000/- Surcharge @10% of Income Tax\n\nEducation Cess @2% of Income Tax and Surcharge, if any
349774
sales tax is not the same as income taxes
55647
By cess, you are made to pay more not less.\n\nIt is something that is required to be paid by those paying the "Central Excise Tax" over and above the normally payable amount of tax.
1069427
I'm pretty certain that income tax evasion is a federal offense of which can include monetary penalty with JAIL TIME!  I'm a coward and subsequently would not want to risk such consequences.  But I would definitely support a FLAT TAX system!!!
791800
This is a very simple explanation of taxes for all of you who don't quite get it:\n\nTax Cuts - A Simple Lesson In Economics\n   \nThis is how the cookie crumbles. Let's put tax cuts in terms everyone can understand. Suppose that every day, ten men go out for dinner. The bill for all ten comes to $100.\n \nIf they paid their bill THE WAY WE PAY OUR TAXES, it would go something like this:\n  \n The first four men (the poorest) would pay nothing.\n The fifth would pay $1.\n The sixth would pay $3.\n The seventh $7.\n The eighth $12.\n The ninth $18.\n The tenth man (the richest) would pay $59.\n \nSo, the ten men ate dinner in the restaurant every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve.  "Since you are all such good customers," he said, "I'm going to reduce the cost of your daily meal by $20."\n\nSo, now dinner for the ten only cost $80. The group still wanted to pay their bill the way we pay our taxes.\n \nSo, the first four men were unaffected. They would still eat for free. What about the other six, the paying customers? How could they divvy up the $20 windfall so that everyone would get his 'fair share'?\n \nThe six men realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being 'PAID' to eat their meal.\n\nSo, the restaurant owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay. And so:\n The fifth man, like the first four, now paid nothing (100% savings).\n The sixth now paid $2 instead of $3 (33% savings).\n The seventh now paid $5 instead of $7 (28% savings).\n The eighth now paid $9 instead of $12 (25% savings).\n The ninth now paid $14 instead of $18 (22% savings).\n The tenth now paid $49 instead of $59 (16% savings).\n \nEach of the six was better off than before. And the first four continued to eat for free. But once outside the restaurant, the men began to compare their savings.\n"I only got a dollar out of the $20," declared the sixth man. He pointed to the tenth man "but he got $10!"\n"Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he got ten times more than me!"\n"That's true!!" shouted the seventh man. "Why should he get $10 back when I got only $2? The wealthy get all the breaks!"\n"Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!" The nine men surrounded the tenth and beat him up.\n\nThe next night the tenth man didn't show up for dinner, so the nine sat down and ate without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!\n\nAnd that, boys and girls, journalists and college professors, is how our tax system works. The ones who get the most money back from a reduction are those who paid in the most. Tax them too much, attack them for being wealthy, and they just may not show up at the table anymore. There are lots of good restaurants in Europe and the Caribbean.
1018568
The new tax return form 2F is not bad.  It asks you much information in that financial year.  90% of the persons dose not pay correct Tax.  For example, how many employees are paying correct taxes.  The are just paying taxes on their salary but not on other income like house rent they earn and the interest they earn on FDs and from capital gains.  \n\nAlmost all the political people will face problems in filling this form.  If they fill this form each year, then they cannot tell stories for their properties later.  \n\nIn my view, the new form is the right one for Indians.  But I am sure that this form will be withdrawn due to political people pressure. (Saying that due to public demand the form is withdrawn.).  We must watch what will happen.\n\nN.J.Reddy\n\nneswarareddy@yahoo.com
667192
No, from what you wrote you did not work and had no income tax withheld.  Only income tax is refunded in the USA.  Sales tax is leaved by local governments and they have no refund procedures nor are you entitled to any of these taxes back.\n\nYour home government my have some plan to give you money for this but I don't think so.
551971
the good ol FICA... Federal Income Tax.\ngimme dat.
43329
Can you believe the IRS has created a culture that believes they're getting free and extra money, so you can't wait to file a tax return when in reality it's your money to begin with that they've taken from you in error and are repaying without interest since you've given the government an interest-free loan.\n\nIf they didn't have withholding, there would be rioting in the streets each April when people realized what they were paying in taxes.\n\nOkay. . my rant's over.
1165121
They will automatically take out 20% for income tax, plus a 10% penalty. Also you have to figure in your income tax bracket; ours is 28%
853387
darn right there should be. say 10% if i make 100 bucks i give the gov 10, if i make 1,000 i give em 100, if i make 1,000,000 i give em 100,000, seems fair to me, unlike now where thoe more i make the less i bring home. before my last pay raise i brought home more money, im paying almost 54% of my income in taxes. the harder i work, the more i pay, for the people who arent working.. thats not fair to me.
570884
Nope, not on income taxes.  If you purchase stuff from the PX or the Commisary then that is sales tax free.  But Income taxes are normal as if you were anyother job.  If you could try to register in TX or WY cause they have no state income taxes but thats the only way around that!
667154
I'm still waiting, but it seems that when they are put to facts - they are remarkably silent.  I'll keep my fingers crossed that you get an answer but - I'll take a shot at it:\n\nYou will get to pay more taxes so that you end up making less money and since they say money is the root of all evil - then you will never get a chance to be evil...\n\n(I know it sucks, but it's the best I could do).  =0)
767662
Fair? This government taxes you for everything: being born, living and dying. It will always find a way of squeezing more blood out of a stone, duty free or not.
265617
"example tax revenue to the government.\nOne who follows a static economic system says if you need more tax revenue you raise taxes.\nOne who follows a Dynamic economic system says you are likely to raise your tax revenue if you lower your tax rate significantly. More money in the pockets of people will create jobs better than Governments ability to create jobs. More jobs create more tax payers which in turn creates a larger tax revenue for the government. "