Poll Reveals Most Americans Don't Know They Got a Tax Cut

Discussion in 'Politics, Religion, Social Issues' started by bamaworks, Feb 13, 2010.

  1. bamaworks macrumors 6502

    Joined:
    Nov 9, 2007
    Location:
    Lexington, KY
    #1
    Linky

    My favorite part is that a significant portion think that taxes have been raised! :confused::rolleyes:
     
  2. Zombie Acorn macrumors 65816

    Zombie Acorn

    Joined:
    Feb 2, 2009
    Location:
    Toronto, Ontario
    #2
    “You’re getting $600. What can you do with that? Not to be ungrateful or anything. But maybe it pays down a bill, but it doesn’t pay down every bill every month..
     
  3. bamaworks thread starter macrumors 6502

    Joined:
    Nov 9, 2007
    Location:
    Lexington, KY
    #3
    Agreed, it isn't much money, but nonetheless the real point is how clueless the general public really is.
     
  4. freeny macrumors 68020

    freeny

    Joined:
    Sep 27, 2005
    Location:
    Location: Location:
  5. Zombie Acorn macrumors 65816

    Zombie Acorn

    Joined:
    Feb 2, 2009
    Location:
    Toronto, Ontario
    #5
    Actually it just goes to show how ****** the economy still is.
     
  6. Peterkro macrumors 68020

    Peterkro

    Joined:
    Aug 17, 2004
    Location:
    Communard de Londres
    #6
    Wouldn't people see the huge rise in the amount of tax money collected by the government and realise it's because there's been tax cuts?
     
  7. bamaworks thread starter macrumors 6502

    Joined:
    Nov 9, 2007
    Location:
    Lexington, KY
    #7
    I'm not really sure if that makes any sense whatsoever.
     
  8. djellison macrumors 68020

    Joined:
    Feb 2, 2007
    Location:
    Pasadena CA
    #8
    So if there was a $600 tax increase, would you express the same sentiment? I mean, it's only $600. What can you do with that?
    :rolleyes:
     
  9. stubeeef macrumors 68030

    stubeeef

    Joined:
    Aug 10, 2004
    #9
    I have to check, but that $13 a week was not a cut, it was reduced withholding that my accountant warned me to watch out for a long time ago. He told me to up the withholding to account for it. I could be wrong, but reduced withholding is not a cut, the liabilities are the same just less prepaid.

    LINK(from rightwingnuthouse) read the entire post from them before slamming it.

    If there is a tax accountant on the forum>is there a change (ie lowering) of tax rates OR a line item that speaks of this credit on the tax forms? Cause if there is not a line item, and I am fairly certain the Tax Rate has not changed>then this is just lower withholding which will bite some in the butt.
     
  10. .Andy macrumors 68030

    .Andy

    Joined:
    Jul 18, 2004
    Location:
    The Mergui Archipelago
    #10
    I am always suspicious of non-attributed quotes.

    In this case rightwingnuthouse.com.
     
  11. stubeeef macrumors 68030

    stubeeef

    Joined:
    Aug 10, 2004
    #11
    Correct!
    Forgot the link, I will add it.
    Did you find something that refutes it?
     
  12. stubeeef macrumors 68030

    stubeeef

    Joined:
    Aug 10, 2004
    #12
    LINK (the IRS)

    Use IRS schedule M to work out your benefit, rough guess is this will give me a $300 tax credit vice $800 due to my income (well below $250,000).
    So this does look like a tax cut for those that qualify, the max benefit will be for those individuals making less than $75k/yr or couples making $150,000 or less.
    As long as this amount is not offset by an increase somewhere else then this is a cut! YA!

    UPDATE, if my wife and I had withholding reduced by $13/week each then withholding was reduced by $1,352 which means my $300 credit will have me owing $1,052. Gee I should have listened to my accountant last summer. Bummer that is the cut with a sting.
     
  13. hulugu macrumors 68000

    hulugu

    Joined:
    Aug 13, 2003
    Location:
    the faraway towns
    #13
    I think this points to a failure on the democrats ability to communicate to the public at large more than anything else.
     
  14. samiwas macrumors 65816

    Joined:
    Aug 26, 2006
    Location:
    Atlanta, GA
    #14
    You know...I was wondering why some of my paychecks seemed larger than I thought they should be. Then I'd see the ridiculously small amount of federal tax being withheld. I need to redo my tax forms so they are withholding more on my W2 work, so it evens out my 1099 work!
     
  15. Zombie Acorn macrumors 65816

    Zombie Acorn

    Joined:
    Feb 2, 2009
    Location:
    Toronto, Ontario
    #15
    Thats a quote from Obama's wife just FYI when bush did a tax cut. My point was that people don't recognize a 600 dollar stimulus check when they are out of the job/suffering (if thats even possible in the US).
     

Share This Page