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Bush tax cut....where, when, how?

R

randym431

Golden Member
Dont know how many did their taxes yet but the bush tax cut us middle class folk were told we got just seems to be missing. All I know, doing my taxes this year the same as last, I get back a lot less. Some $150 less. Deductions are the same and wage is about the same too as last year. My neighbor had almost the same figures as last years taxes. Last year he got back $7 fed and $20 state. This time he pays $130 fed, $90 state.

Sooooooo, are you finding out the same with your taxes too? WHERES THE OUTRAGE?
 
Sooooooo, are you finding out the same with your taxes too? WHERES THE OUTRAGE?
Click to expand...

You won't find much outrage around here. P&Ners are quite content with forking over half their income to the government. Some of them love it in fact.
 
Originally posted by: Dissipate
Sooooooo, are you finding out the same with your taxes too? WHERES THE OUTRAGE?
Click to expand...

You won't find much outrage around here. P&Ners are quite content with forking over half their income to the government. Some of them love it in fact.
Click to expand...

Or... We have more to do with our lives than post Bush-bashing thread after Bush-bashing thread after Bush... Really, you should expect small increases in taxes. After all, we are in a wee bit expensive war, and our President is still somewhat trying to reduce the deficit. Those are the debates, not the obvious outcomes of them.
 
Originally posted by: randym431
Dont know how many did their taxes yet but the bush tax cut us middle class folk were told we got just seems to be missing. All I know, doing my taxes this year the same as last, I get back a lot less. Some $150 less. Deductions are the same and wage is about the same too as last year. My neighbor had almost the same figures as last years taxes. Last year he got back $7 fed and $20 state. This time he pays $130 fed, $90 state.

Sooooooo, are you finding out the same with your taxes too? WHERES THE OUTRAGE?
Click to expand...

Your refund is not a reflection of your tax rate. How much did you pay in taxes last year vs the year before?
 
Originally posted by: themusgrat
Originally posted by: Dissipate
Sooooooo, are you finding out the same with your taxes too? WHERES THE OUTRAGE?
Click to expand...

You won't find much outrage around here. P&Ners are quite content with forking over half their income to the government. Some of them love it in fact.
Click to expand...

Or... We have more to do with our lives than post Bush-bashing thread after Bush-bashing thread after Bush... Really, you should expect small increases in taxes. After all, we are in a wee bit expensive war, and our President is still somewhat trying to reduce the deficit. Those are the debates, not the obvious outcomes of them.
Click to expand...

Well, that is part of my point. Many P&Ners hate Bush and the war in Iraq but when it comes to paying their war taxes nary a squeal can be heard.
 

Tax cut? There wasn't any tax cut. Rather, we had a "tax borrowing". In order for us to have a "tax cut" today we increased our national debt, which means that we'll have to pay more taxes tomorrow to pay for our "tax cut" today.

In the end, it will prove not to have been a bona fide tax cut, but rather a tax cut for some people (those who actually benefitted from it) and a tax increase for others (those who will pay higher taxes tomorrow to pay for the "tax cut" today).
 
Originally posted by: randym431
Or... We have more to do with our lives than post Bush-bashing thread after Bush-bashing thread after Bush
Click to expand...

See you've been watching fox... you obviously got the memo...too.
Click to expand...

Nope. I've been reading this forum. Did you read my post? Well, these tax increases are all that one can expect. Take a look around.
 
Originally posted by: Whoozyerdaddy
Your refund is not a reflection of your tax rate. How much did you pay in taxes last year vs the year before?
Click to expand...
Exactly. A well done tax cut will drop your withholdings on each paycheck and will have no impact on your refund. That is, if done properly, you'll get your tax cut on each and every paycheck not in one lump sum when you file your taxes.
 
From Dissipate, the usual hyperbole-

"You won't find much outrage around here. P&Ners are quite content with forking over half their income to the government. Some of them love it in fact."

Cut the bullshit by about half, and you'll be about right-

http://www.ctj.org/pdf/fsl2004.pdf

Total taxes, not just federal income tax- one of the lowest rates in the developed world... particularly for upper incomes...

But the truth seldom suits wingnut purposes...

I thought paying taxes was our patriotic duty? Where are all those flag-wavers, war mongers & freedom spreaders, anyway?

If we were actually paying for the largesse of the Admin and their Congressional allies, taxes would be a lot higher. I suppose we're operating on the principle that borrowed money is free money, right?

 
Originally posted by: jlmadyson
Did not pay a single dime to the feds this year, got it all back, middle class here btw.
Click to expand...
Shens. You're either lying -- to us or to Uncle Sam -- or you are "middle class" solely because you live with your middle class parents, who did pay federal taxes.
 
Originally posted by: Bowfinger
Originally posted by: jlmadyson
Did not pay a single dime to the feds this year, got it all back, middle class here btw.
Click to expand...
Shens. You're either lying -- to us or to Uncle Sam -- or you are "middle class" solely because you live with your middle class parents, who did pay federal taxes.
Click to expand...

Ha nice try, had for the most part one income last year, the wife's, two babies (tax breaks), pay student loan interest for wife (deduction), pay tuition for myself and wife for her Master's (deduction), get a tax break for our income range and 401k investment (tax credit). Had some self employment income last year (one half self-employment deduction) and some child care expenses (tax credit). All adds up to paying zero federal taxes. My wife paid in $3,200 and we got every single dime back.

Amazing hey?

Naw, not really, education, investments and children equal serious tax breaks for this middle class family.
 
Originally posted by: Jhhnn
From Dissipate, the usual hyperbole-

"You won't find much outrage around here. P&Ners are quite content with forking over half their income to the government. Some of them love it in fact."

Cut the bullshit by about half, and you'll be about right-

http://www.ctj.org/pdf/fsl2004.pdf

Total taxes, not just federal income tax- one of the lowest rates in the developed world... particularly for upper incomes...

But the truth seldom suits wingnut purposes...

I thought paying taxes was our patriotic duty? Where are all those flag-wavers, war mongers & freedom spreaders, anyway?

If we were actually paying for the largesse of the Admin and their Congressional allies, taxes would be a lot higher. I suppose we're operating on the principle that borrowed money is free money, right?
Click to expand...

That doesn't take into account the cost of business regulations and inflation (the stealth tax).

The developed world has succumbed to socialism. Do we want to be like them?
 
According to Turbo Tax, my effective tax rate was 12.9% I don't think thats too bad at all.

Would have been a lot higher, but I deducted two night classes I took, and the books. I also deducted a lot of business expenses, and some of my military pay is tax exempt.
 
Originally posted by: jlmadyson
Amazing hey?

Naw, not really, education, investments and children equal serious tax breaks for this middle class family.
Click to expand...

Not really, it sounds like your household income is low. You are not really middle class, you are lower middle class. Yes if you make hardly anything and have write offs you do not really pay federal taxes.
 
Originally posted by: Todd33
Originally posted by: jlmadyson
Amazing hey?

Naw, not really, education, investments and children equal serious tax breaks for this middle class family.
Click to expand...

Not really, it sounds like your household income is low. You are not really middle class, you are lower middle class. Yes if you make hardly anything and have write offs you do not really pay federal taxes.
Click to expand...

Well, I never said we were high middle class or anything although once I finish my doctorate I'm fairly certain we may be close. My wife's income is in the 50-60k range and she is 25, not chump change by any means considering her age and region. And yes, we our middle class and tax credits are tax credits.
 
Originally posted by: dullard
Originally posted by: Whoozyerdaddy
Your refund is not a reflection of your tax rate. How much did you pay in taxes last year vs the year before?
Click to expand...
Exactly. A well done tax cut will drop your withholdings on each paycheck and will have no impact on your refund. That is, if done properly, you'll get your tax cut on each and every paycheck not in one lump sum when you file your taxes.
Click to expand...

Yeah, I know all about that...


















of course, my withhoulding went down about $3.20/paycheck so thanks for 0.5% of a mortgate payment, Dubya.
 
Originally posted by: Pens1566
Originally posted by: jlmadyson
Did not pay a single dime to the feds this year, got it all back, middle class here btw.
Click to expand...

Supporting the troops with that $0 in taxes FTW.
Click to expand...

That an original thought? :roll:

I file my taxes like every other person, you got a problem with the tax cuts/credits, deductions then I would suggest you take it up with your legislatures.
 
Originally posted by: jlmadyson
Did not pay a single dime to the feds this year, got it all back, middle class here btw.
Click to expand...

Youre so full of it. Your sig claims phd in polysci--in progress AND you claim to be middle class? How many of your higher ed credits did you use? When i was in grad school (making 15k/year BTW) i also got everything i paid in back. BUT this was due to education credits and my below poverty line income. So, im calling BS on your post.
 
Originally posted by: homercles337
Originally posted by: jlmadyson
Did not pay a single dime to the feds this year, got it all back, middle class here btw.
Click to expand...

Youre so full of it. Your sig claims phd in polysci--in progress AND you claim to be middle class? How many of your higher ed credits did you use? When i was in grad school (making 15k/year BTW) i also got everything i paid in back. BUT this was due to education credits and my below poverty line income. So, im calling BS on your post.
Click to expand...

I'm not in the middle class due to my income but my wife's income, and we utilize both are education credits not just mine:

You can try to call BS all you like but it really doesn't matter to me but like I said to bowfinger:

Ha nice try, had for the most part one income last year, the wife's, two babies (tax breaks), pay student loan interest for wife (deduction), pay tuition for myself and wife for her Master's (deduction), get a tax break for our income range and 401k investment (tax credit). Had some self employment income last year (one half self-employment deduction) and some child care expenses (tax credit). All adds up to paying zero federal taxes. My wife paid in $3,200 and we got every single dime back.

Now, here is a link to me referring to my tax refund shortly after I filed two to three weeks ago. I have no reason to bs on a web forum, but keep believing that doesn't bother me one way or another.


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