As a self employed person for the last 20+ years I have said that everyone should have to pay their income tax by check at the end of the year and NOT have it withheld from their paycheck.
The problem is, no-one really pays attention to what's being taken out. Yeah, it stinks when you get your paycheck and you see all that money going to the Federal Government, but you don't really feel the pain until you end up short when you file your taxes and have to write a check. Then everyone screams, cusses and calls the government and sometimes me, names.
Business owners write that check every quarter. We don't have someone withholding it for us. We actually have to sit down, calculate the dollar amount, and after we kick a few dogs, beat our fists against a wall and scream for half an hour, we write the lousy check! It stinks, and that is the nicest way I can put it.
In reality, businesses have to do this for employees monthly and for themselves every quarter. The time and expense is tremendous! The amount of hours wasted by employers calculating income tax withholding, workman's compensation and sales tax is staggering. If I or other business owners could have that time back to produce income, I believe that the US economy would serge, as we would have the time to produce more goods and services, income and employ more people.
House Bill, HR-1919 was introduced back in April of this year, repealing the Federal Withholding requirement. This proposed bill gives the taxpayer the option to have or not have their income tax withheld by their employer.
This bill, in my opinion is genius!
I believe it would do a number of things.
1) It would put more money in each taxpayers pocket every paycheck.
2) Limits the Federal Governments "overspending", as they wouldn't get the money until April.
3) Drastically reduces the amount of money and time wasted by business owners to report these earnings.
4) Finally cause so many people to pay attention to what they're paying in taxes as to cause a national outcry to reduce spending and thus the actual income tax.
The link to the Library of Congress website is http://thomas.loc.gov/, if you would like to check out the text of the bill for yourself.
The reality is that this bill will probably never pass. Unfortunately, the things I listed above are the exact reasons why most politicians would hate this bill. It's bad for their pet projects as they would have less of our money to play with. Which is why I support it.
Bryon Harrington

