From Obama, the Tax Cut Nobody Heard Of

[seven-up]

http://www.nytimes.com/2010/10/19/us/politics/19taxes.html?no_interstitial

Edit to remove text.

 

[seven-up]

So now we are going to be hearing about this $400 dollars for the next two weeks until 11/2?

 

[my-rifle]

You're the first one I ever heard talk about it.

 

[olivs260]

In a troubling sign for Democrats as they head into the midterm elections, their signature tax cut of the past two years, which decreased income taxes by up to $400 a year for individuals and $800 for married couples, has gone largely unnoticed.

I pay over $25,000 a year in income taxes. An $800 cut is not very meaningful to me

Besides, since when is taking about 3% less of the money I worked for, supposed to be a GOOD thing? You're still ripping me off to pay for programs that I don't stand a chance of benefiting from.

Obama can talk to me when he learns to live within his means, like we do.

 

[my-rifle]

I believe the original poster was saying that Obama is taking less of your money than the previous administration was taking. The entire point of the cut is that it's not supposed to be meaningful to you. It's supposed to help the economy. If it was meaningful to you you'd save it instead of spending it. We need people to start spending again to prevent a spiral of deflation.

BTW I paid right at $70,000 last year in federal income taxes I'm very pleased with what I got for my money.

 

[tunatuk]

I paid more last year than I ever have. Gone down my ass, and I don't make a lot at all. I had to pay an additional $2k when I did my taxes in April on top of the money already spent.

Total taxes was right at about 20-25k if I had to guess, including SS, Medicare, and all the other BS they take.

 

[seven-up]

Personally, I would have rather received a $400 dollar check as a "stimulus" instead of $15.38 every few weeks in my pay check. I could have bought another gun. There it would have been spent. Or I could have put the 400 bux in the market and made a few dollars or lost my butt. To each their own. Instead, I get my extra 15 bux every two weeks to spend on a couple meals at some some fast food joint, or put it into my retirement account as it is extra money that I don't have to have for my budget. But the most ironic thing of all? When I google "what can i buy with 15.38". The very first link is to "A Nation of Victims: The Decay of the American Character" on [ame="http://www.amazon.com/Nation-Victims-Decay-American-Character/dp/0312098820"]Amazon[/ame] for $15.38. How fitting is that? This extra $15.38 has made me a victim. So, where's my check?

 

[Nomad.2nd]

I believe the original poster was saying that Obama is taking less of your money than the previous administration was taking. The entire point of the cut is that it's not supposed to be meaningful to you. It's supposed to help the economy. If it was meaningful to you you'd save it instead of spending it. We need people to start spending again to prevent a spiral of deflation.

BTW I paid right at $70,000 last year in federal income taxes I'm very pleased with what I got for my money.

I thought they were sunseting the Bush Tax cuts???

Or is this a continuance of it like they discussed?

 

[highstandard40]

BTW I paid right at $70,000 last year in federal income taxes I'm very pleased with what I got for my money.

You are kidding, right?

 

[jjss]

i would be happy to pay big taxes at this point..... the job market for young folk absolutely sucks...its either $10/hr or you need 25 yrs experience....its crazy. for a 26 y/o with no degree(yet), i have a very impressive resume, yet the job market is sooooo tight and companies even with long track records of low turnover have had major amounts of layoffs.

 

[Nomad.2nd]

http://www.wimp.com/budgetcuts/


Slightly off topic, but not really.

 

[seven-up]

http://www.wimp.com/budgetcuts/


Slightly off topic, but not really.

+1

 

[my-rifle]

i would be happy to pay big taxes at this point..... the job market for young folk absolutely sucks...its either $10/hr or you need 25 yrs experience....its crazy. for a 26 y/o with no degree(yet), i have a very impressive resume, yet the job market is sooooo tight and companies even with long track records of low turnover have had major amounts of layoffs.

No one, and I mean no one accepts $10 per hour. If I could find anyone willing to work for $10 per hour I'd be a wealthy man. I'd have killed people for $10 an hour ten yeas ago. Today, Mexican illegal immigrants in front of Lowes won't take that. No one works for $10 per hour.

I'll tell you this: If your credentials can convince my client that you can solve their problems I will pay you $60 per hour. The problem is that a college degree or ten years flipping burgers amount to the same thing. No evidence that the client will benefit from your expertise.

 

[Hitman]

Smoke & Mirrors ///

 

[jetmech1983]

For my taxes to have gone down, it sure was the first year I owed at the end of the year. That 1300 hurt.

 

[Hitman]

If you're married with kids and making under $30k a year, your getting around $7-8k BACK in your pocket.

 

[herohog]

No one, and I mean no one accepts $10 per hour. If I could find anyone willing to work for $10 per hour I'd be a wealthy man. I'd have killed people for $10 an hour ten yeas ago. Today, Mexican illegal immigrants in front of Lowes won't take that. No one works for $10 per hour.

I'll tell you this: If your credentials can convince my client that you can solve their problems I will pay you $60 per hour. The problem is that a college degree or ten years flipping burgers amount to the same thing. No evidence that the client will benefit from your expertise.

My wife is working 50+ hours a week at $7.25/hr and we are damn grateful to get that! On the 1st, she will start taking home LESS but she will have Insurance again thank God! Yes, it's still not enough to put a roof over our heads, not and pay for food and a car note and insurance for them too. We are depending on my Social Security to kick in and cover that here in the next 2 to 3 months and then we can live on our own again.

 

[my-rifle]

Jesus, HH. Sorry to hear about your situation. Your wife should know that illegals standing outside Lowes will walk away from your car if you offer them $10 an hour.

 

[Roadhazzard]

I'll tell you this: If your credentials can convince my client that you can solve their problems I will pay you $60 per hour.

Ok, I will bite. What credentials would convince?




.

 

[Yrdawg]

That happened to us at work...state employees...but most everyone got hit at end of year for about the amount not deducted

I'd have to go with smoke and mirrors