Wednesday, January 09, 2008

Slightly Satisified

I always disliked having conversations with conservatives about taxes. I've always been of the opinion that the well off (including myself) should be taxed more than they are now while the less fortunate should be taxed less. The economic theory supporting this is the velocity of money, which is much much higher for the lower classes than the upper classes. (Velocity of money the speed at which money is used in transactions, or how fast someone spends money when they get it. Similar to inventory turnover but w/dollars). The lower class having more money, means a stronger economy.

Anyway, whenever I would argue that I should pay more taxes (as Warren Buffet does), I always get the same response. "No one is stopping you from paying more taxes, you can just pay more, but don't make 'ME' pay more too." Usually, I'd be stumped and say "That's not the point." Now, I'm happy to report, that it appears that I can now say "Actually, I do!" Apparently, I've been overpaying taxes for quite some time, and I have a credit account with NY, NJ and the Feds. Instead of asking for the money back at the end of the year, I've "apparently" told NY, NJ and the Feds to keep it and roll it into next years taxes, which I'll likely overpay and roll into the next year. Of course, I'm only discovering this b/c this year is the first time I actually looked at my taxes (yay accountants). Somehow, the knowledge that I overpay my taxes and now have a comeback to this argument is totally worth the money I'm out.

1 comment:

Anonymous said...

Maybe you can roll your taxes into mine. I'd prefer that to having to shovel my own cash over the government so they can waste it on lazy, good-for-nothing, unproductive wardens of the nanny state.