Posted on 01/02/2010 9:01:01 AM PST by bloodmeridian
My understanding is they expire at the end of 2010, not at the beginning. Can anybody clarify?
And God only expects 10%. Go figure.
In some ways this is a good thing... The Bush tax cut took an unprecedented number of people out of tax responsibility. That was always my gripe about how Bush structured it. In consequence so many middle class types don’t pay taxes that they quit caring about spending! That was probably the intent of the Demonrats who pounded out the compromise. NOW suddenly, the vast stupid sheeplike public will actually care about the Federal spending!!!!! If my long held theories about the consequences of the Bush Tax Cut hold true... We shall see and time will tell.
2010 is the year to go Galt if you haven’t already
I read the Congress was also too busy to provide an “AMT” patch as they have been doing for years- so 20 million more families will fall under the AMT (from 4 million paying it now)
I expect this to profoundly affect our spending and saving this year
God Help our businessmen and our friends and neighbors employed by them who are struggling- but we can’t spend it if the US Congress takes it
Something changed already, although I don’t know if it relates to the expiration of the Bush tax cut. I only know my paycheck dropped by $40 some-odd dollars on the 1st & I hadn’t made any changes to withholdings or anything else.
I think it was PJ O’Rourke who said he could remember the moment he began to transform into a conservative was when he received his first paycheck and saw how much of the fruits of his labor was taken by the government.
Just noticed that as if 1 Jan my check will increase...due to decreased withholding. Ha! I suppose I’ll owe more tax due to this little shenanigan.
Don’t you hate that “too busy to provide AMT tax relief” crapola. Congress when it wants to screw us shows it’s willing to work late into Christmas Eve!!! They’re not to busy, they just hope we won’t realize how badly we’re being bent over. If I could have one rule passed it would be that taxes could not be withheld. You got your full paycheck and every quarter you had to write a check. Do you realize how fast the nonsense in Washington would stop.
Of course, when people complain, BO can, as usual, blame Bush.
HE didn’t raise taxes, it’s all just leftovers from the Bush admin!
I'm confused also. But if the tax cuts effects this year, you can bet that the Feds might not send new tax tables to your employer and your check will be the same. At least until the health bill passes. If they do send the new withholding tables, most employers have them now and will probably enforce on your paychecks starting January. No matter how it turns out if in effect 2010, you can bet the screw up will be massive and you will owe the Feds next tax filing in 2011.
everyone who got an obama “stimulus” check now owes tax on it! Luckily for those who will now have reduced incomes, obama fixed the economy and the recession is over
oh, and there isn’t any inflation, either
sarc
between the AMT, increased property taxes and whole bunch of other “licenses” and fees” from our overextended local and state govts - a lot of people who have been “comfortable” are about to feel a squeeze
and some are gettin’ IOU’s from their states instead of tax refunds- something the feds probably will have to consider before long. If we are lucky, before obama’s reelection. and the IOU’s will have his picture on them
of course, we in the middle are not the folks the economy needs to recover anyway, right- obama is only taxing the rich
During the election, I never understood why McCain/Palin didn't emphasize this more. We knew Obama and the Dems wouldn't renew the Bush tax cuts, so right there he lied. Every time he made his "promise," I yelled at the TV.
I have not heard of anyone yet whose withholding for next year has not automatically increased - I guess we can all check in next week and share stories
especially if you make under $250K and been reassured time after time since 2008 by ol’ purple lips that your taxes wouldn’t go up “one dime” (surprise! goin’ up many dimes instead!)
Wow, $500 less a year. How sad. Could it be your state is now starting its gouging? Or did your benefits package cost go up? I would be demanding an answer why.
the progressive thnk tank talking heads, to a man and woman, have been programmed to go on talk shows and call this tax increase “fixing the Bush mistakes”
Watch for this demspeak phraseology! It started right after obama was elected, on the guise the Bush tax cuts of 2000 only benefitted the upper classes anyway
Whenever a liberal says conservatives want to force their morality on others, I respond by saying my paycheck deductions are proof of liberals forcing their morality on everyone.
“Wow, $500 less a year.”
Yep, pretty sad. I haven’t gotten the stub yet to compare with the prior month’s, but our state is definitely increasing taxes any where they can.
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