Dave’s “Boomer” Thoughts on Gen-Z’s Tax Trauma
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- Опубликовано: 21 апр 2024
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I am a barber. I had a 17 year old sitting in my chair one day saying that his dad was taking him to look at a couple of universities in Boston and San Diego (he lives in Boise) because he thought either of those places would be “fun” to be in college. He wanted to study philosophy. I asked him, “Do you know the difference between a large cheese pizza and a philosophy degree?” Nope. “Well, the large cheese pizza can feed a family of four.” And he said, “I don’t know what you mean,” and I said “Of course you don’t, but some day you will.”
😂😂😂
Tragic. I've known 2 different people with a masters degree in Philosophy. One was practically jobless for a decade after he graduated and lived with his mom until she passed away when he was 36. He works at a Walmart grocery store now as a cart retriever. The other works at an Amazon warehouse with me at my side-hussle job. He's 32 now and cannot gain employment in his degree field anywhere. The second guy regrets it deeply because of the massive student debt he still has to pay and the first guy is somewhat deluded because he thinks he'll get a teaching job in Philosophy one day. His mother paid for his entire education and died with practically nothing in savings, so he doesn't have any student debt, but is dirt poor and rents a room from an old couple.
I'm sure that didn't happen. 😂
I guess you're unaware that Philosophy is a common major for law school applicants. As a lawyer myself, I'm dubious whether your story really took place, as it contains certain self-serving indicia of a lie. I do believe you're a barber, though, as your eagerness to make a sweeping, smug judgment about the life of a near-stranger suggests a humble education and predilection for unsolicited small talk that tonsorial work would seem to permit.
Before posting such ugly-on-the-inside comments as the above, perhaps you should first consider how those posts may come across to others. Or better yet, limit your posts to topics you actually know about, if there are any.
@@cisium1184 Let's say you get your philosophy degree and then can't get into law school. In that case you are royally, completely, irrevocably and permanently F**KED!
If you really want to be 'brought to tears' over taxes be self-employed, or run your own business!
And have a payroll!
@@restandrelaxation4039 One of the biggest lies is "employer paid FICA".
I always wanted a business with no employees. But I always had at least one ... a real deadbeat too! ME! 🤪
Or go to the grocery and see how much onions cost, buy one, and cut it up. That'll make anyone cry. 😂
Facts
Odd, my customers pay my company taxes. You may need a new CPA!
I think CNBC just didn't realize the younger generations have redefined words a bit... I can imagine them saying:
"I LITERALLY cried when I saw my taxes!!!"
And CNBC was like, "Wow, they literally cried!!!"
Literally doesn't mean literally anymore lol 😅
Exactly
Literally hasn't meant literally for 20 years now...
Leave to Gen Z to “fix” what didn’t need to be fixed. That is redefining words that don’t need it.
@@Kooldood0874I have this conversation with my 14 year old all the time lol
I drink while I do my taxes. I start out slow and when I hit E-file I finish the bottle.
😂
I always drink when I have to do something I dislike. I haven't done the dishes sober for years....
LMAO!!!!!!!
@@user-tl7mj2bm4myou’re an alcoholic
I have to try 7 to 10 times to get the IRS to accept my filing doing my taxes completely sober.
For the first time in about a decade this year I paid what a couple of good bottles would cost and let an accountant do my taxes.
Stress free and no hangover.
Gen Z here! I’ve been doing taxes for years now, while it is not fun, I have never cried. I think Ramsey is right here. I think most of us understand that it is just something we have to do and we get it done and go about our day. Paying taxes is not the end of the world.
It is if you spend all your money and you didn't keep your hands away from papa IRS piece of cake. 😂
The government is running a massive Ponzi Scheme so they will be more than happy to take all your money in taxes as the currency folds.
It takes like less than an hour using tax slayer / turbo tax / etc. Unless you own your own business, it’s literally as simple as entering your w2 information and taking the standard deduction.
It’s just part of life. It isn’t oppressive. My grandfather loved aging taxes, but he was also very patriotic and grew up with dirt floors.
I have to agree I don't believe the number is that high especially with how many people I have taught how to do their taxes (using turbotax) its so easy and simple the only thing I could imagine people crying about is the amount the pay annually in taxes I pay about 7500$ after deductions most people but I also have a lot of deductions
I’ll be honest, I was damn near close to tears when I saw how much of my money the federal government wasted last year
They spent yours on stuff you like. Feel better now?
What the % tax rate for basic salaries?
@@commonenglishmistakes4360 Whats the definition of a basic salary?
I am almost In tears hearing how much the Federal government is about to spend right now 😂
@@godfathaofyo OMG seriously. Is it the work basic or the word salary that's confusing? The first tax band, what are the thresholds?
Whats more frustrating is not the taxes but how its absolutely wasted. Govt needs to get on a budget and cut spending...but that will never happen.
We need to be able to choose where our tax money is going.
No taxation without representation.
The feds could cut close to 40% of their spending and you'd still owe the same amount of taxes ... that's how much they're borrowing every year.
I agree we pay the government but they spend it on whatever and tell us sorry we have no money to spend for average people.
@@JP-ro2yionly people who don't have representation are some folks in DC and a few other places.
Paid like 30k in taxes this year; the thought of the opportunity costs made me wanna cry too
if you paid $30,000 in taxes you made a ton of money. You sound very ungrateful.
@@robertmckay5839You'd be surprised how wrong you are. I pay well over that every year and all I do is work for the railroad.
More details please? 30,000 ?
@katieandkevinsears7724 30k in taxes is over 100k income. Maybe less if you are in NY or CA. I paid 26k in taxes and my income for 2023 was 107k
@robertmckay5839 I'm a civil engineer and thas about what paid. Government drains people like me
They never had a part-time job during high school. My son got his first pay check and saw how much they took out and he quickly understood who you vote for makes a difference in your pay check.
"Hard times create strong men, strong men create good times, good times create weak men, weak men create hard times." - G. Michael Hopf, Those Who Remain
Americans have always been weak, so...
My dad (Silent Generation) always said, “You have to make money to pay taxes.” (It’s better to pay taxes than be so poor to owe none.)
1998 Generation Z here. Not all of us are irresponsible with money. Have a government job, pension, 457 plan, brokerage account, Roth IRA, net worth is over 100k at 25 years old. Not fair to put eggs in one basket. We all have different experiences.
Same Gen Z 98, and similar net worth. Way to go!
All cause you got lucky with Govt job. Lower pay but they kiss your butt with good benefits that the rest of the taxpayers pay for!! Who got student loan debt relief too? Kids of GOVERNMENT workers, not regular Joes.
I agree my 26 son sounds like you. He’s got his shit together. No crying involved
@@davidcarp5935 I'm the same age and also have that high of net worth. No government job.
it's called a generalization. You know you are in the .001%, good job! But the reality far outweighs your situation. How you can't see this is troubling.
I am an early millennial here, I remember that the very first shock I had about taxes was my very first paycheck or summer job at 16. I remember taking it home to dad and having him look at it to make sure it was correct because it seemed like it should be wrong. And he explained to me that it was correct and help me to understand what all the different taxes were being taken out. And then he helped me file at the end of the year. But after that, I was pretty much on my own with it so you taught me and then just let me loose. It was a great experience all things considered, and I learned very quickly and very early about taxes and how much was actually being taken out.
Pay your taxes - other countries are depending on you
Seriously. Congressmen are waiting patiently on their cuts!
They passed 95 billion the other day to go to other country's wars. Almost 1 trillion dollars in one bill. Just kill me now please.
You misspelled Israel
@@intergalacticglobalistslayer Not only do they get money for their military agenda, we also give them billions every year of our tax dollars so they can have free healthcare and subsidized housing. Our government screws us over in multiple ways!
@@intergalacticglobalistslayer The Jews..
Forget therapy I go straight to the emergency room
"The difference between death and taxes is that death does not get worse every time Congress meets"
- - - Mark Twain
We are both self employed. We owed $530,000 in Federal taxes alone. Not to mention state income tax in 19 states. And AOC and Bernie say we don't pay our fair share.
What was your combined gross income?
You must be pretty large to be in 19 states.
@@BREEZYM6015 the entire company is, but only a shareholder/partner here.
We were self employed our entire working lives as well. Everyone should have to write a check quarterly to pay their taxes. Then they would understand.
I don't feel the least bit bad for you!! I'd make you pay more!
Almost every other country in the world: Open the app, check what the government already filled in for you, correct where necessary, press send. Done.
Takes somewhere between 5 to 15 minutes.
This is what happens when the government is run by accountants and lawyers. It’s ridiculous how complicated the tax code is.
Exactly! It is so easy ín Hungary
@@Lakhesys It is not hard if you only have one income and they have already taken out taxes as they are supposed to. Filling out the form is then NOT difficult - please don't believe everything you hear. It gets complicated when you begin to have multiple income sources and/or are self employed.
The rapport between daughter and dad here is excellent!
Had to pay $15k a couple of years ago. No time to cry. You want things gotta pay for it. - Millennial
Listening to this is the perfect example of why this show will be done when Dave retires. She is better than most of the minions that take calls, but the young ones just don't have the papa Dave wisdom or life experience to be good advisors....yet. Thank you Dave for disagreeing with them on the show when they ask stupid questions and give stupid suggestions. I know you are grooming them to continue on, but when Dave leaves, so will most of the audience. It's noble to want to continue the good work, but Dave is an amazing one of a kind.
Yep
I envy those kids of his and those who hv experienced the close mentoring - unique individual who made an amazing impact, for sure
As a boomer, I remember our generation as highly criticized for our major differences with our elders…rock & roll, women’s movement, anti-war, civil rights, sexual freedom, and supposedly drugs (although this was way overhyped). Yet the boomers I knew started working our asses off even in HIGH SCHOOL, got jobs and were largely self supporting by late teens or early 20’s and a high percentage who went to college put themselves through.
The truth is, the world changes and the state of knowledge and opportunities differ among the generations. With today’s internet and tremendous access to useful knowledge for nearly everything, I think younger people know way more about many things than we did as boomers at the same age. We had to slowly work our way through many books to learn what we needed to know, we often had working class parents who knew nothing about higher education although they wanted us to have it. Our parents were very strict and if anything went wrong, we were assumed to be in the wrong, not the teacher or store clerk or boss or anyone else. We had to take responsibility for our actions and our mistakes.
While we all know about the 25 year old in the basement playing video games, I think this is the outlier, not the norm. I believe many of the GenZ and Millennials are better educated, dedicated to new ideas of social Justice, caring and hard working individuals. I am impressed with many of these young adults and I hope they get their chance to save and change the world, we need their vision and ideas to embrace the wider world beyond their personal success. I also hope they turn to God, this is the most important and valuable step for anyone now, or in the future.
Wages went further in your youth. Why is that so hard for Boomers to admit. It is an absolute facts that financially it is way way way harder for the youth today than it was for the Boomers. I cannot stand that Boomers ignore that. So OK Boomer
How about just not being disrespectful to anybody? Ageism is just as bad as sexism and racism. When people say Baby Boomers had it so much easier because prices were cheaper, I call BS. The young Boomers got out of college (that they worked through and then also had college loans for) when there was the WORST recession in history! We went underemployed or unemployed for a long while. We perfected living in our parents' basements. Every job had thousands of applicants because there were so many of us. We applied to a thousand jobs before we got one. And, sorry, low salaries back then still put the cheaper houses out of our reach.
However, we didn't think we deserved a 2,500 square foot, 3 bedroom, 2 bath house out of the gate. We started in small starter homes...that took two salaries to get and maintain, then worked our way up by building equity.
A Baby Boomer could give younger people good advice, if the younger folks could get over their sense of entitlement long enough to listen.
@@avengingemmapeel you ignore facts.
@@rd24life, like what? You just want to trash a generation. Shame on you.
@@rd24lifeok youngin. I’m sure you feel that inflation is high and homes are unaffordable. However, if you ever delved deeper into the article you’d see they all say the same thing…it’s the worst it’s been in 40 years. That means it was worse 40 years ago right around the time later stage boomers were entering the workforce (or at least attempting to). So just stop with this notion that ours was some easy road. And while I’ll agree with you that college costs are outrageous, no one forced anyone to take on hundreds of thousands of dollars worth of debt. There were and continue to be alternatives. Maybe go to a community college. Maybe find a company that offers tuition assistance. Join the military. Do what I did. Work full time and go to college at night. Is it the glamorous college experience? No. Does it take longer? Yes. But an option nonetheless. Just stop playing the victim.
"Charge the gates of Hell with a water pistol". 😂
The tax return is what makes me want to cry. The complexity and time consumption to prepare a tax return is ridiculous. My 2023 return was 74 pages long.
Most of it is filler and blank paper with zeros. So at least you aren't poor!
Use a program - it is super simple if you only have one income at a regular company. Really. It's not that hard. If it is, you can always use a place like H and R Block.
Having paychecks directly deposited we no longer see all that is taken out unless we deliberately look for it!
If you keep voting for big government. You’ll keep getting bigger tax bills.
You'll also keep getting bigger debts
“Are you sad about wearing a coat?” 😂😭
Yes, I hate coats!
😂
Who says that.
I was thinking he would have a bad take, but I’m really surprised! I agree with his take. Damn! 😂
I don’t believe in income/property taxes. If the U.S. got rid of both so much money would just poor in like no tomorrow. I don’t know for sure but I’m guessing there are trillions of dollars in tax haven countries that should really be here. The economy wouldn’t collapse, it would explode. Look at Monaco, they have no Income/property nor capital gains taxes yet they’re flourishing with no major exports. In my view point the IRS keeps money out of the U.S. and that’s a huge problem.
Ok then don’t drive on the roads, go to the park, go to school, call the police, fire etc. Also no water to your home, sewer, utilities. Not to mention airports, the FAA, the military, any public transportation. You would also have no doctors, nurses or other professionals because they either go to public schools/ universities or finance it through yes student loans to become one. Even tradesmen use public schooling to get their education.
You can’t compare a leech, rich-haven sanctuary country like Monaco to a large independent country like the U.S. with its own natural resources (almost comparable to Africa). Tax money is for infrastructure, police, fire departments, water systems, schools, military, street lights, parks, veterans, justice system, medicaid, medicare, child services, it goes on and on. The nation can’t rely on sales tax.
Those can all be payed without income tax
@@noahkieffer7410
How?
Gen X here. I'm very organized and keep all my paperwork.
But I do pay someone to do my taxes because it keeps me from first degree murder charges. 😂
First time I did my taxes I had no idea how or why I had paid so much in taxes and seemingly got nothing for it. Definitely something school never bothered to attempt teaching me; but I do know the mitochondria is the powerhouse of the cell.
No social studies class on the role of government? US History including when and why taxes were implemented?
As a Gen Z, instead of crying about my taxes, I just went and became a CPA. Now I get paid to cry while doing other people's taxes.
As a holder of a Bachelor's degree in Accounting, I went through enough trauma in my tax courses trying to get a decent grade. We were tested our on knowledge of doing taxes for those who ran small businesses or those who owned several rental properties...the old school way before Turbo Tax was invented.
Paid 30k in taxes. and I run a business to so paid the quarterly tax write after. Siphoned 40K from me plus $1K car tab renewal in CA all in one week.
It’s absolutely theft, the roads i drive in are still shit and the streets are still unsafe to walk down.
Your first mistake is staying in CA
I’m a millennial and I never learned anything about taxes in highschool. So maybe start with that.
Gen Z here, I’ve never heard anyone say they need a therapist for taxes. “Have you done your taxes yet” is the most the conversation progresses. Lol
Thanks for the love Dave 😎
Most kids want free stuff until they have to pay. The difference is at what age do they realize this.
I cried this year. Thousands gone in a blink of an eye.
Crying? 🙄
@@kbanghart yes, crying. You can pay it if it’s so easy for you.
Why did you feel the need to cry
@@biolife3274it is easy I account for income not gross but net after taxes
@@phantom7489 Because so much of their life (energy, labor, effort, mind) wasted.
It's time to get rid of taxes.
You going to fix the roads, genius?
I’m an Xer that loves my Zoomers. Every generation has its crap and its successes.
But Dave’s “that’s … fabulous” made my day
It was "charge into hell with a water pistol" that did it for me 😂😂
I’m 27 and I owed a lot of taxes this year…..Guess what I did!?
Nothing. Just paid it and moved on.
That’s life.
Speak 4 yourself. Learn tax law n skip the taxes duh
@@MooMoo69556 I’ll get right on it
Rachel talking about bulldozing parents like she hasnt been gifted the easiest life ever by her dad
Expectations has its own level of challenge
Nothing wrong with that. You work not just yourself but for your children as well, to give them a better chance in life.
Rachel was born the year Ramsey filed bankruptcy. If you listen to either of them tell the story, Rachel didn't grow up in a rich household. She grew up while her parents were building themselves back. She's pretty humble about where she came from, from what I can see.
It's not just the taxes, it is the complexity of the forms. I was in a job where I didn't play FICA, but I was starting my own business which also required FICA. I remember the instructions saying that people in my position needed to reference a specific regulation in the tax code ... so I went to find the regulation. It wasn't there. Now with my own business, a mortgage, and investments, a husband with his own business we hire professionals.
This video recommendation was perfect timing. My 6 year old was whining about practicing piano because it was too hard. Had to explain context and what real challenge is.
Good grief, everyday things in life create trauma? They have raised a bunch of people who can't deal with the real world. It is so sad.
Who is THEY?
Then you either raised one or are one
Quit shitting on others
@@ClaxtonBay123 The parents of the kids that Dave is talking about. Did you listen to the video. And the kids working at Tech aid who can't seem to deal with life's issues and seem to think that it is only a problem for the business if they do not show up on time or can't deal with the work. It is also what the article was written about. Read the article, and if you think that filing taxes is anything other than something that has to be done by the due date, then you might be a part of the group in the article. Deadlines matter, projects need to be completed, and if that is a problem, a worker can also go someplace else. That is also a service that we provide.
@@marius8032 Neither. I am certainly not complaining about myself, but if you had a business, you would understand what Dave is talking about. But you do not own a business. And it is the fault of the parents to not prepare the child for life. You are not going to live forever, so you can't protect them from the reality of life, like doing taxes, completing a project on time. The rest of the world is doing it, and they will be doing it better.
@@gibblespascack1418 THEY are the ones complaining about the generation that THEY Raised. Absolute nonsense
I am the old millennial and I will tell you gen z is soft !
As a gen x married to a boomer and a two different business owner, I believe in our system and I believe in taxes! That being said, we are being taxed to death by the corrupt politicians. From local to federal government. Here in Pa my biggest gripe is with the teachers union (aka the MAFIA)! They have our school taxes attached to our property. They have an open checkbook for us to take care of teachers for the rest of their life attached to our property. WT ever loving F! THIS NEEDS TO CHANGE! Thanks for listening and have a wonderful day.
I'm Gen Z and paid over $100K in taxes last year. I don't care about the amount, it is what it is, but the tax filing process is undoubtedly unnecessarily annoying, confusing, frustrating, and expensive.
I'm employed full time, hubs is retired and gets a pension, we have some interest-bearing accounts, and an e-trade account. That's it. It took me several hours to complete my tax return. It shouldn't be that hard.
@@maryfields1382 That's great that you have such a simple tax situation, unfortunately I do not. Though even if you do have a simple situation, millions of Americans get essentially tricked into paying dozens or hundreds of dollars to tax companies every year.
Taxes in Canada is SO easy now compared to when I started filing 20+ years ago.
Back then it was super annoying doing it with pen and paper. Kids today could never handle that.
Seriously. Takes me 15 minutes with UFile to do both me and my wife's, and that's without letting it do auto-import from CRA. Our taxes are way simpler than Americans' though.
Kids today couldn't handle a pen and paper? That's weird because my gen Z kids seem to do fine with them.
@@kbanghart manually filing taxes the old way is what I mean. If a good portion are struggling with tax software it would be even worse without the new conveniences.
Canadian here as well. Parents used to hire a local accountant to do taxes for the family. Ever since taxes went electronic I have taken over and saved on the annual accountant fee.
Take a pic W-2 and press send.
Digital signature on file.
There's other things that the IRS does not know about.
@@jimmymcgill6778 Name 3 things Jimmy. They know way more than you know! Try and cheat them, see how that works out for you.
Taxes keep getting higher and the money we make is worth less and less due to inflation.
I'm self employed and I'm more angry than anything because I know the government is probably just putting them in their pocket. But I got to pay them angry or not.
Amen Dave. Quit voting for progressives
Conservatism is progressivism driving the speed limit
That have nothing to do with taxes.
@@jimmymcgill6778 progressives have nothing to do with taxes? What are you smoking
@@jimmymcgill6778yes it does
Quit voting for those who give huge tax breaks to the wealthy and big corporations.
A couple of my grandparents friends immigrated here from Europe after WW2. They said they were happy to pay taxes here after living through that horror.
Taxes in the US are really low.
@@Art-is-craft yes
A good friend of mine has a sister whose job requires a lot of international travel. She says you don't ever want to live in a country where there are no taxes.
Love the 'Been doing it a while. Never cried, but been doing it a while'. 🤣. 😍
Rachel giggling softly in the background when Dave says “they absolutely suck” had me in stitches!
What i don't understand why taxes are stressful? Just go to your tax prep place, H&R or a local one and have them do it? Even if you have investments, etc, you get all end of year forms you bring in that your cpa will do for you. You literally pay them and they take care of it for you.
These same folks pay someone else to change the oil in their cars, pay a person to cut and style their hair, pay someone else to dry clean their clothing. Do they not know they can pay a professional to prepare their tax return?
@@alberttang6955 I pay someone to do mine and I don't really need to, but why wouldn't I since it's so relatively cheap.
It would have been good to know if it is the process of filing your taxes or paying the taxes you owe that is stressful.
Yeah interesting take but I think some people want to do stuff themselves.... or worst they don't always have their taxes set aside..... But I don't understand why taxes are stressful either because I have never owed more than I could afford to pay back or go without.
Are you kidding? There’s a gazillion forms and local taxes for gig workers and a gazillion deductions you need to break even.
She doesn’t seem to think voting and taxes are related. No wonder these young people have issues. They want to do things their way based on their feelings but not have to deal with the consequences. Voting affects taxes.
The more I see her as a co-host, the more I hope she doesn't take over when Dave retires.
They are not related. As a country we need to keep servicing the debt that the boomer generation created. Millennials get to pay for the boomers debt and we get nothing for it. It all ends in financial collapse which is why smart millennials are buying Gold.
@@RusskiCommieBot case in point.
@@dr_pinna543 oh no! I didn’t think about that. I’d lose all interest.
you pay taxes regardless of who you vote for
In the UK our employment taxes are paid automatically every week or month. They're managed by payroll teams and you see how much tax you've paid in your payslip. You only submit a tax return yourself if you're self-employed.
As a GenX, I get everything together and get it organized before I start the filing process. I also read as much as I can about changes for filing before I file.
Not saying this is something worth crying over because it's not but I guess this is what happens when you learn the Pythagorean Theorem over this type of stuff in school
You should know both.
Dissing Pythagoras? Really?
I have to look up that Theorem!! 😮
I get paid in cash. Whats taxes?
There you go!
You better find out what taxes are before an IRS agent shows up and charges you with tax evasion. 🤣
Inflation....the hidden tax.
As a Gen Z myself, most of us aren’t the private school, party people who graduated with a 2.1 GPA in a useless major, took the first job that would take them in, just to finally realize what life is like off of daddy’s money and cry about it… some of us know what it’s like to clean bathrooms for $12/hour during university
Gen zish ('95) here. Got angry with a surprise $10k tax bill. Luckily I had a full emergency fund, and it sucked, but I wasnt screwed. No therapy necessary
The first time I had to file taxes my dad (who is a boomer) simply said to me "figure it out". Ever since I've learned to be organized and not stressed out about it. Actually figured out that you can file your taxes before the due date.
Exactly. I was 14-15 doing doing federal taxes on paper forms 30 years ago.
My primaries are closed, I'd love to actually vote for people, not extremes.
Milennial here, I'm with Dave, taxes just make me mad lol.
I am about the same age as her. I remember the first time I filled out my own taxes I thought this cannot actually be the way we do this. Im sure I came close to tears trying to understand half the stuff they were talking about, thinking I would go to prison if I got it wrong. I spent days and days looking stuff up so I knew what they meant. We learned calculus in high school. CALCULUS but not taxes! Or budgeting!
Dave’s right. This Gen Z just sent 4K to the Ukraine, angers me every year but, it’s life🤷🏻♂️
F..K Ukraine and all them other countries we sending billions too , they keep raising prices and taking more $ out our checks
Imagine getting upset over preventing a ground war with Russia.
@@michaelhutchings6602 Imagine thinking Russia is going to put soldiers on boats and invade America.
It wasn't Gen Z that did that.
@@michaelhutchings6602 Imagine sending money to a foreign country to protect their borders while ours are wide open!
Gen Z needs a therapist just to get out of bed in the morning.
Not quite that extreme, but you're not far off
@Hi_Brienkinda like boomers
@@kbanghart Boomers don’t need a (mental) therapist to get out of bed. Maybe a physical therapist 😂
I think many of the Gen-Z folks stressing out over tax season are the same folks who suffered math anxiety in school. They barely squeaked through their mathematics classes, performed below grade level in math all through school, and continue to struggle with numbers as adults.
Nothing up to do with mathematics. You think tax forms require calculus?
@@Art-is-craft I don't think people described here were taking calculus.😞
@@arh1234
Tax forms do not need mathematics.
When I do my income-tax report I can't avoid thinking about the TEA PARTY REVOLT.
BF said "two things are certain in life DEAD AND TAXES ". Enjoy the journey.
My favorite line from Gone With The Wind, was from Scarlett: 'Death, taxes and childbirth! There's never a convenient time for any of them!"
Taxes under Republican always lower then left
How were these kids raised everything seems to upset them, a lot still live at home
no one ever messes with Gen X lol
No one ever thinks of them either
They can't handle us.
@@rickyayy bc we don't need help or comforting from anyone.
Gen X largely raised Gen Z. We screwed up somewhere.
@@alanj9978my Gen Z kids are good.
I'm a millennial and the most stressful time of the year is tax season. The harder I work the more the government penalizes you.
follow Dave's advice .. educate yourself about compounding interest and capital gains .. and you'll learn to love tax time
What about compounding debt? At some point in the next 10 years 100% of tax revenue will be going to just the interest payments on our national debt. Compounding interest is a scam because it never accounts for compounding money supply.
I'm 39 and I'm happy that I wasn't raised to make "trauma" _the_ central of part my identity.
Very few people think like trauma. They know such a thing happens to people that have been through truly horrible things. Not that many people have really faced that.
@@Art-is-craft What?
They’re not aloud to get dirty , they bubble wrapped their kids, we rode our bikes no helmets or pads on us, today I see little kids and they have so much stuff on them to ride a bike if you fell of your bike you wouldn’t feel getting hurt then I see moms going OMG are you hurt but doing it going over board, so when hard things in life come along they can’t handle them
Dave is 100%
Vote ? Who's in the world would cancel all taxes in their country ?
Federal taxes are a lot lower than they used to be. Back in the 60s and 70s, tax rates were outrageously high.
Find me someone who is fiscally conservative that isn't trying to convert everyone to their religion and make America a theocracy and I'll vote for them without a second thought. People forget Freedom of Religion includes freedom FROM religion.
President Bill Clinton balanced the budget,
and had money left over to pay down the balance.
So which is financially responsible political party?
That was part of a Democratic Party that doesn’t exist anymore
Thanks to a Republican Party that actually held to conservatism (unlike the GOP of today). If the Dems had control of Congress they would have pissed it all away too (much like they do today)
😂😂lol bit exaggerated, of course. I don't really know any Gen Z crying over taxes. Don't forget, as helpful as Dave is, this is still an entertainment show.
I'm a millennial and I used to whine about how the system was stacked against us and so on back in my 20s. Now in my 40s I think more like a boomer. I think a lot of it is maturity and experiencing the real world changes us.
Same for my kids. Good on you
That’s because you’re more likely to get a return than you were when you were younger. Young people don’t have houses and/or marriage/kids. They’re renting while single and that group is taxed and billed into poverty. I have a mortgage and 401k and I receive over $5000 back every year. I used to barely get any money back from doing taxes so I can’t dismiss the way I’ve felt about taxes at age 18. Taxes used to be a scary time for me. I’m in my 30s and I know it still sucks for people who are in their 20s.
Every generation has cried over taxes
My wife taxes me all the time!
My goodness. It’s not about the taxes, per se. It’s about the complexity. My kids bring in all kinds of income from internet stuff, merch, online selling (like e-bay), independent project work, and then also W-2. They are terrified of messing up because of the recent threats by the IRS. My son is in his late 20s, and next year I’m getting an accountant. This is beyond my paygrade also. I suspect that most of the Gen Z people who are “crying” about Texas, are stuck in this complexity boat too.
Great point
I suspect they might hv overlooked this in their focused reactions to the stress component
It is actually a great thing that Gen-Z is traumatized by taxes. Way too many people think that taxes are something that other people pay. In fact, they think that other people should pay even more taxes. At least Gen-Z is smart enough to understand that taxes affect them too.
Why’s Dave’s daughter need therapy??? Weird
Rachel is a woman. They love therapy, head meds and voting for the left.
Seem to be a thing with women her age or younger.
There is nothing weird about it. Therapy is therapeutic.
@@Ayami861 it is weird. That relationship with a stranger that you pay well lol 😂. Healthy people don’t go to therapy. Smoke in that
I disagree with the statement that Gen Z does not have it tough. I have two young adults in that generation. The cost of living is ridiculous, along with higher education. I taught my children to be independent and that is what they are trying to be. They sacrifice a lot, including going many days with little food. I’ve talked to other young people that age, and it’s super hard for them too . I try to help when I can, but I know that they have to learn on their own. I always remind them that this time will pass and never judge your life by where you are in your 20s.
@serenabell1971 Grandparents lived in Europe during WWI and WWII…
@@erikarommel I believe that they had it harder for sure, but we can keep going back before electricity and indoor plumbing. There will always be generations that struggle. They live in the present moment, however. It’s like medical problems. Someone may be worse off than you, but it does not lessen your pain or struggle.
The last few years, I've been gifting graduates the book "Do Hard Things" by Alex and Brett Harris
Taxes are a double whammy. The government takes you money, which is bad enough. But they use the money to reduce your freedom, increase regulations, and generally use that money to hassle you more.
its not the giving of money that makes paying taxes bad - usually you get money back. it's that the process is intentionally made to be horrible so you have to pay a private company for it. we need to fix our tax system and just make them automatic, not something you have to file each year.
We need a simpler tax code that anyone can comply with easily, or maybe something other than income tax altogether. Dave's idea, "Vote", is probably the best we can do if any candidate will offer some ideas. Telling the representatives we have to make changes is a good start.
It took me a couple hours and I was done with my taxes thanks to an online program. I also have lots of stocks and mutual funds and crypto I trade, in addition to a full-time and 3 statements of royalty commissions. What are these folks doing that bring them to tears? Do they own multi-million dollar companies and have no accountatn? The programs make it SOOO easy.
Taxes in your country sounds ridiculus. In my country if im employed, once a year i need to send tax return form that is already prepared for me, i can put some deductions in it manually. That is it, it takes 2 minutes. If you have small business you pay like 2hrs worth to calculate your monthly taxes and thats it.
"Vote!"
For whom? Both major parties waste our money like drunken sailors on shore leave.
I'd want to know *where* they took this poll.
Most genz file 1040 and pay less than 10k a year in taxes and don't owe but usually get a refund.
To be fair, taxes have gotten far more complicated and a small mistake can cause either paying more or risking an audit. I used to be able to do mine on a paper form, now it takes days to navigate a multi page website. I know I have to pay, I just dont want to over pay. It stresses me out.