Paying tax time 2021/Carlos Pueblo

 Paying tax time 2021/Carlos Pueblo

It's a new year and paying tax time. We receive the income tax forms from the Social Security Office for our 2021 distribution forms. Our totals is a basic $30,000 plus for age 62 early withdraw. If I don't have additional income exceeding $20,000 in 2021, this social security income is not taxable. Of course, I have some retirement income; therefore, I must file the annual federal income tax for last year 2021 and start now until April 15 this year. $50,000 a year income for a family of three is barely enough and you do notice that my extra expanse for the immediate past 12 months, a underground tap water pipe replacement  and a power snake job for our second story counter top line costed $5,000 +, my 14 fake teeth is $4,400, Arthur's Retina Detachment procedure is $3,000, and my Q45 rebuilt and Arthur's 07 Camry maintenance is $5,000 +, etc. You will understand what I am talking about. We still need to pay the federal income tax.

In Texas, we don't have the State Income Tax; however, we still need to pay a value added tax, i.e. a tax of 8.5% added to goods we purchase. I am not familiar to the details of split. I believe that the State get 4%. It's why I hesitate to go ahead purchasing a new car when my Q45 broken down, I fix it instead. Our school district is financed by a local property tax along with the city tax as well as the county tax all in the same bill very efficient.

About 50% of the U.S. population don't have to pay the Federal Income Tax that is very sorry for such a rich nation to have so many low income citizen. We pay the Fed and in return, the Fed would pay the low income citizen some kinds of help called welfare. It is fair that I believe. Texas governments, all kinds of local governments, rely on property taxes paid by residents directly or indirectly, i.e. the property owners pay the property tax and renters pay their rents monthly supporting the owners property tax burden plus their profit that what I call indirectly. It is fair also.

I admire that some rich folks claim that they don't pay tax that much. I really want to know how.