Thanks. Obama?
- Thread starter jennifer75
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Joe270
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In truth, it's not. The cigarette makers kicked up their price the amount of the new tax in hopes of angering smokers. They want the smokers to put up a big squawk and get the tax repealed before it takes effect, but I don't think anyone gives a shit about smokers or their votes any more.
The cost increase is also a 'shot across the bow' of several states who are considering raising cigarette taxes, like Nevada. It seems like it worked here, where a proposed $1 a pack increase seems dead in the water.
Of course there's that 'rake in the cash' bit, too. They want to make a quick buck now to cover some of their pending losses.
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I always notice my first few paychecks of the year aren't the same - different one time taxes or insurance premiums.
But $20 sounds about the size of my monthly increase. Can't complain, as I still have a job.
But $20 sounds about the size of my monthly increase. Can't complain, as I still have a job.
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Don't worry...the gas companies are already trying to jack up prices to take care of that twenty bucks a week for you.
Gas around here jumped up about .10 overnight.
Just curious about this paycheck stimulus....we're supposed to be getting a little extra in our paychecks...less taxes being taken off our checks...right?
But does this mean at the end of the year, our tax obligations are less too--or does it simply mean we'll either owe a little extra (equal to the extra amount we're getting every paycheck this year), or not have as large of a refund?
If the tax obligation stays the same then how exactly are we getting ahead?
Anyone know?
Thanks...
Just curious about this paycheck stimulus....we're supposed to be getting a little extra in our paychecks...less taxes being taken off our checks...right?
But does this mean at the end of the year, our tax obligations are less too--or does it simply mean we'll either owe a little extra (equal to the extra amount we're getting every paycheck this year), or not have as large of a refund?
If the tax obligation stays the same then how exactly are we getting ahead?
Anyone know?
Thanks...
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It's still not clear. No one has finished reading the stimulus bill, yet. But I'm sure it must be in there somewhere.
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Before anyone finishes reading stimulus 1, stimulus 2 will be ready for printing, so no worries. There will be plenty of change to go around for everyone.
Not to dampen your euphoria or anything, but you do realize that that $20 bucks was yours all along, right?
I just can't get too excited about the goverment giving a smidgen of my own money back to me...especially since we're going to be paying for the various bailouts of banks and mortgage holders (can't quite bring myself to call them "homeowners") for the next several decades.
Exactly. And I still can't figure out if they're just not taking that $20 now, but they will take it at the end of the year.
Either way, eventually, I think they'll be coming back for more than those few twenties they're letting us keep...
Reminds me of what magicians do to work their magic - the art of distraction. Keep your eyes focused on one hand (handing out twenties--or rather letting us keep our twenty) while they're dipping the other hand in our pockets....and our kids' pockets....and our grandkids' pockets....
<sigh>
http://finance.yahoo.com/news/INSIDE-WASHINGTON-Rude-apf-15091434.html?.v=1
"Millions of Americans enjoying their small windfall from President Barack Obama's "Making Work Pay" tax credit are in for an unpleasant surprise next spring.
The government is going to want some of that money back.
The tax credit is supposed to provide up to $400 to individuals and $800 to married couples as part of the massive economic recovery package enacted in February. Most workers started receiving the credit through small increases in their paychecks in the past month.
But new tax withholding tables issued by the IRS could cause millions of taxpayers to get hundreds of dollars more than they are entitled to under the credit, money that will have to be repaid at tax time.
At-risk taxpayers include a broad swath of the public: married couples in which both spouses work; workers with more than one job; retirees who have federal income taxes withheld from their pension payments and Social Security recipients with jobs that provide taxable income.
The Internal Revenue Service acknowledges problems with the withholding tables but has done little to warn average taxpayers."
I wonder why the IRS isn't warning the average taxpayer about this...
<sigh>
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If there was no withholding, and we actually had to cough up all that money at the end of the year, you would hear shrieking from everywhere in this country.
The Tea Parties would suddenly have a LOT more participants.
But because they take it before you even HAVE IT in your hands, it doesn't hurt as much.
You want change? Get rid of withholding. <G> Make everyone have to actually write a check out on April 15th. 'Cept the gov wouldn't want that because....like...nobody would want to write that check. Plus, just like them, we'd have already spent the money. Sorry, Uncle Sam, how about you just take this I.O.U. from me?
Susan G.
The Tea Parties would suddenly have a LOT more participants.
But because they take it before you even HAVE IT in your hands, it doesn't hurt as much.
You want change? Get rid of withholding. <G> Make everyone have to actually write a check out on April 15th. 'Cept the gov wouldn't want that because....like...nobody would want to write that check. Plus, just like them, we'd have already spent the money. Sorry, Uncle Sam, how about you just take this I.O.U. from me?
Susan G.
Perhaps an IOU written on some Chinese toilet paper...?
Just kidding.
So...does this mean that 95% of taxpayers aren't really getting a tax break?
The devil is always in the details and it would seem that come next April, quite a few people are going to be feeling the horns.
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I believe something like this happened in the election year of 1964 and less was withheld from our paychecks only to be taxed higher in 1965.
Seriously though, once all those 'exceptions' are factored in, what percent of taxpayers are 'really' getting a tax-break?
And why do you suppose these tax breaks only last through 2010?
Seriously though, once all those 'exceptions' are factored in, what percent of taxpayers are 'really' getting a tax-break?
And why do you suppose these tax breaks only last through 2010?
It's an outright lie that 95% of taxpayers are getting a bigger tax break. What is fact is that 5% of tax payers are being reamed harmed this year. But just because one group's taxes went up, does NOT mean everyone else's went down. In fact, a very small chunk of the populace (people who fall between the shifts in tax brackets from 08 to 09) will see actual tax reductions.
This is what the government is counting on. Divide and conquer. When you allow them to do it to smokers they'll use the same tactic to go after you.
Drinking causes this.
Obesity causes that.
Bad driving causes the other thing.
The attack on smokers was a social experiment that worked.
Oh, did you all see the sweeping tax increases coming for the middle class?