The Tax Man Cometh Again and Again?

Hi Everyone,

I have a problem with our tax system which includes: federal, state, local and school. The entire system is broken and needs to be overhauled, sooner rather then later and a fairer system should be implemented. But what I am most upset with is, New York state's income tax. We work hard every day, week, month and year and in this economy, if you have a job, you thank your lucky stars. Each time you receive your pay check you see all the taxes that are deducted. Like: federal income taxes, social security, medicare and your state's unemployment tax. Here in New York state, like many other states, money is also deducted for New York state income tax. Obviously, that means that we pay taxes on all of our income, so that New York state gets its money.

Then comes April and it's that time of year to do your yearly income taxes. You add up all of your income, calculate your deductions and poof, you either owe more money to the feds or your state or both, or you get a refund. There in lies my problem with New York state. If you get a New York state refund, that amount of money is then used as income for the following year's taxes. Come on, didn't we already pay taxes on that money? Yes of course! But, besides the fact that New York got the use of our money (refund) for free they then tax us on it the following year as income. Where is the fairness in that? By anyone's definition this is called double taxation. How come you can't be tried in a court of law twice for the same crime, (double jeopardy), but double taxation is legal? I am not sure if anyone has tried to sue the state on the double taxation issue, if not someone should.

There was no common sense used when taxing refunds became part of New York state's tax code. This just makes no sense unless.......wait for it........ you were a politician who decided to add this ridiculous tax to fill some budget deficit of many, many years ago. New Yorkers are already paying very high taxes. If New York is serious about tax reform, start with eliminating this double taxation flaw.

I guess there really isn't any free money!

Til next week.

Peter