Quote:
Originally posted by Carrie
This idea is why most people do not understand how much they pay in taxes.
All withholding, done by *any* employer, should be stopped.
It's *your* money, you should be able to do with it as you will - invest it, spend it, wipe your ass with it if you want.
The more people who have to look at an actual tax bill at the end of the year and write out a check to cover it, the better. The ones who see a return coming back never BOTHER to learn anything about taxes and how much they're paying.
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I couldn't agree more. Most people I've dealt with who have portions of their tax withheld have absolutely no idea how much extra tax they owe - they either end up underpaying and get penalized or overpaying by a TON. Why let the IRS hold on to your extra money while you could use it to pay off high-interest credit card bills, loans or even save it and earn some of your own interest?