Comments on: Tax Time http://www.minthegap.com/2004/02/26/tax-time/ Standing in the Gap in a Society that's Warring with God. Tue, 06 Jan 2009 12:25:20 +0000 http://wordpress.org/?v=abc hourly 1 By: Mary http://www.minthegap.com/2004/02/26/tax-time/comment-page-1/#comment-23024 Mary Fri, 05 Jan 2007 19:08:26 +0000 http://www.minthegap.com/?p=426#comment-23024 What I dislike about tax time, is the self-employment tax. For small businesses, such as mine and dh when he built saddles FT...it was a killer paying 15% of all our income. That was 4 years ago, I don't know what the percentage is now. Dh always has several money-paying projects on the side though that amount to enough to be income. Thankfully we get a refund so the outgo isn't so obvious. I'm curious as to how quickly the Democrats will cut our child tax credit in half now that they're holding the reins...when they do, ouch! What I dislike about tax time, is the self-employment tax. For small businesses, such as mine and dh when he built saddles FT…it was a killer paying 15% of all our income. That was 4 years ago, I don’t know what the percentage is now. Dh always has several money-paying projects on the side though that amount to enough to be income. Thankfully we get a refund so the outgo isn’t so obvious.

I’m curious as to how quickly the Democrats will cut our child tax credit in half now that they’re holding the reins…when they do, ouch!

]]> By: Stephen Kingston http://www.minthegap.com/2004/02/26/tax-time/comment-page-1/#comment-21996 Stephen Kingston Thu, 04 Jan 2007 21:49:25 +0000 http://www.minthegap.com/?p=426#comment-21996 It also attacks the black market. Criminals pay a sales tax just like anyone else, whereas they clearly do not pay a tax on illegal income. This is the argument that has seen VAT in the UK rise to 17.5% (and it is at similar levels in mist of the EU). This offsets our income taxes, but there is no sign that income tax will dissappear any time soon... or indeed anytime ever. It also attacks the black market. Criminals pay a sales tax just like anyone else, whereas they clearly do not pay a tax on illegal income.

This is the argument that has seen VAT in the UK rise to 17.5% (and it is at similar levels in mist of the EU). This offsets our income taxes, but there is no sign that income tax will dissappear any time soon… or indeed anytime ever.

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