The Government wants your Money

[Pirian]

Except I didn't say they weren't tax cuts. If I did, then maybe your stupidity wouldn't be so obvious.

Wait, what?

Obama is using a pretty open-minded definition of tax cuts. I think that's why Acturus.

Obama is using a pretty open-minded definition of tax cuts.

a pretty open-minded definition of tax cuts.

tax cuts.

No no, you didn't say they weren't tax cuts. You just said they're only tax cuts for the open-minded. This is why I don't make serious posts in these threads, lol.

[archibaldcrane]

What's the point in decreasing federal taxes if the states just gobble up the difference?

Because if the federal taxes weren't decreased then you'd be paying even more money? It's not like state taxes went up -because- federal taxes went down.

And second, that poll says most Americans who do not identify themselves as Tea Party members think Obama kept taxes the same.

I personally am in that category. My paycheck did not see any more money after April of 2009, nor was my tax filing for 2009 significantly different than my filing for 2008 (I think we got a little less money back this year, in fact) My take-home pay stayed the same, and has continued to stay the same. I don't know how Obama was able to quote that he cut taxes for "95% of working families", but I must not be in that 95%.

And if I am, then I wonder who got that extra $70 that I'm supposed to see each month.

How much money did you make? Are you single?

If you made under $75k in AGI last year you were at least eligible for the "Making Work Pay" tax credit of $400 (for singles) - if that wasn't factored into your withholding through your job (it should've been) then you got it as a chunk when you did your 2009 taxes.

Did you forget to receive this credit in your taxes, or did you make too much money for this particular credit? It's one or the other.

Also, welcome to the elite 12% of Americans Swampy who realizes that Obama is a tax-cutter for the vast majority of Americans. Feels good man.

[Acturus]

If you made under $75k in AGI last year you were at least eligible for the "Making Work Pay" tax credit of $400 (for singles) - if that wasn't factored into your withholding through your job (it should've been) then you got it as a chunk when you did your 2009 taxes.

Married with one child. Got the making work pay credit, and the family credit, and my wife's student loans in '09 gave us an education credit. I didn't make any more money than last year, and I may have made a little less (I didn't do any freelance DJ work).

It was pretty budget neutral compared to 2008.

[archibaldcrane]

I...still hope that people realize that Obama has lowered taxes for the vast, vast majority of Americans - only 12% of America realizes this fact - don't be part of that 88% people.

Um...what?

Except I didn't say they weren't tax cuts. If I did, then maybe your stupidity wouldn't be so obvious.

LOL. I guess you were getting incredulous about something else then?

Reality, meet Swampy, Swampy, reality. Get acquainted, it's been a while.

[archibaldcrane]

Married with one child. Got the making work pay credit, and the family credit, and my wife's student loans in '09 gave us an education credit. I didn't make any more money than last year, and I may have made a little less (I didn't do any freelance DJ work).

It was pretty budget neutral compared to 2008.

No, it obviously wasn't. In 2008 you didn't get the "making work pay" tax credit. In 2009 you did. Therefore you spent (jointly) at least $800 less in taxes this year than you would've in the exact same conditions filing in 2008.

I'm confused as to how you don't think this affected you - welcome to the 12%

[Acturus]

No, it obviously wasn't. In 2008 you didn't get the "making work pay" tax credit. In 2009 you did. Therefore you spent (jointly) at least $800 less in taxes this year than you would've in the exact same conditions filing in 2008.

I'm confused as to how you don't think this affected you.

Because at the end of the day, my bottom line says nothing changed.

Ergo, in my position, where nothing about my life or my work changed significantly, and my bottom line did not change, I do not see anything that would suggest my taxes decreased.

In 2008, I made X, my wife made 0 and took out student loans, and we had a child.

In 2009, I still made X, my wife made 0 and took out student loans, and we still had that kid.

My return was basically the same, which means whatever I got from "making work pay" this year equated to whatever I got last year (most likely a break from having the kid in 2008.

I'm sure if I whittle it down, I got something in 2009 that I didn't get in 2008, but that also means I got something in 2008 that I didn't get in 2009, and I think it was a one-time credit for having a child.

[archibaldcrane]

Because at the end of the day, my bottom line says nothing changed.

Your bottom line would've been $800+ dollars less if he hadn't cut your taxes. I get that you "don't feel it" because you can't write off your new kid every year or whatever - but it's definitely obviously there. When you were doing your taxes and took that new, from Obama, "making work pay" credit - that's when your bottom line felt it.

Glad we got that sorted out.

[Blarg]

I think some people would feel a lot better if they had to pay 2000 dollars and then 10 minutes later get 1000 dollars back rather than just pay 1000 to begin with.

[SwampdonkeyPLD]

I think it's just what comes to mind when people hear "tax cuts." They think they owe less, not that some get more back at the end of the year.

[archibaldcrane]

I think it's just what comes to mind when people hear "tax cuts." They think they owe less, not that some get more back at the end of the year.

Employers should've been withholding less when the "making work pay" tax credit got implemented.

Q2. How will taxpayers get this credit?

A. For people who receive a paycheck and are subject to withholding, the credit will typically be handled by their employers through automated withholding changes to be made in early spring 2009. These changes may result in an increase in the amount of take-home pay. The amount of the credit will be reported on the 2009 income tax return. Taxpayers who do not have taxes withheld by an employer during the year can also claim the credit on their 2009 tax return filed in 2010.