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Discussion in 'Politics, Religion, Social Issues' started by bamaworks, Feb 13, 2010.
My favorite part is that a significant portion think that taxes have been raised!
Youre getting $600. What can you do with that? Not to be ungrateful or anything. But maybe it pays down a bill, but it doesnt pay down every bill every month..
Agreed, it isn't much money, but nonetheless the real point is how clueless the general public really is.
Just goes to show how effective the lies are
Actually it just goes to show how ****** the economy still is.
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?
I'm not really sure if that makes any sense whatsoever.
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?
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.
I am always suspicious of non-attributed quotes.
In this case rightwingnuthouse.com.
Forgot the link, I will add it.
Did you find something that refutes it?
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.
I think this points to a failure on the democrats ability to communicate to the public at large more than anything else.
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!
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).