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Originally Posted by theking
It is not that big of a problem...but it does kind of tick me that I have to lose dividends on money that I have to take out to pay taxes and then will have to pay taxes on the money that I use to pay taxes.
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Everyoen gets screwed. Look at FICA taxes. This sinteh SS and Medicare atxes peoleget taxen out of your paychecks. Now you NEVER see this money. It is taken out before you even get your check and there is no way around getting it taken out. Yet you still are required to pay income tax on this income that you never get. An example;
Say Joe Blow work at XYZ Corp and makes $39,000 a year. He pays about $3,000 in FICA taxes. OK that's fine, but he has to pay 15% income taxes on that $3,000 too. That's $450. WTF? He never got to see a dime of that money. That money goes to make sure our grandmas don't have to eat dog food yet WE pay the taxes on it. Something fucked up about that. Interestingly XYZ Corp also has to give the IRS $3000 in FICA taxes, but unlike Joe Blow they CAN deduct that payment off their income.