Yeah! Tax Cuts take effect in April!!! :(

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  • WhiplashDug
    ICS Graphics Dude
    • Aug 2006
    • 3438
    #1

    Yeah! Tax Cuts take effect in April!!! :(

    The Stimulus Tax Cuts will go into effect in April... and on average, we will all see an additional $13 a week in our paychecks!!! Wooohooo!

    As if that's not stimulating enough...

    Accountants have now been suggesting that people adjust their WITHHOLDING amounts, as the TAX CUT isn't really a tax cut, as ONLY the withholding amounts have been adjusted - but the tax tables have not. So, come next April, everyone will have to pay that $13 back in the form of taxes! WOOOHOOO!

    I wonder if I can pay it back at $13 a week???
    Was a graphics master for Lensman @ Adult.com but now... I can't tell ya cause it aint top secret.
    ...........
    DOUGRIDLEYDESIGNS
    [email protected]
    ICQ: 303-498-056
    skype: whiplashdug
    Tags: None
    • $5 submissions
      I help you SUCCEED
      • Nov 2003
      • 32195
      #2
      According to the WSJ, it also acts as a handout to those that make less than a certain cutoff amount. I wonder how much effect that will have...

        Comment

        • GatorB
          The Demon & 12clicks
          • Oct 2001
          • 18208
          #3
          Originally posted by WhiplashDug
          The Stimulus Tax Cuts will go into effect in April... and on average, we will all see an additional $13 a week in our paychecks!!! Wooohooo!

          As if that's not stimulating enough...

          Accountants have now been suggesting that people adjust their WITHHOLDING amounts, as the TAX CUT isn't really a tax cut, as ONLY the withholding amounts have been adjusted - but the tax tables have not. So, come next April, everyone will have to pay that $13 back in the form of taxes! WOOOHOOO!

          I wonder if I can pay it back at $13 a week???
          Most people get too much taken out of their paychecks anyways. when I see someone bragging about a huge refund I think "what and idiot. he's happy he gave the governemnt an interest free loan for a year"

            Comment

            • WhiplashDug
              ICS Graphics Dude
              • Aug 2006
              • 3438
              #4
              Originally posted by GatorB
              Most people get too much taken out of their paychecks anyways. when I see someone bragging about a huge refund I think "what and idiot. he's happy he gave the governemnt an interest free loan for a year"

              No doubt! I agree completely! However, DONT TELL ME this is a tax-cut - when all you did was reduce the amount I have to pay in advance!!! Thats NO TAX CUT! But its rather descriptive of what those 'donkeys' in DC think of our intelligence!
              Was a graphics master for Lensman @ Adult.com but now... I can't tell ya cause it aint top secret.
              ...........
              DOUGRIDLEYDESIGNS
              [email protected]
              ICQ: 303-498-056
              skype: whiplashdug

                Comment

                • pocketkangaroo
                  Confirmed User
                  • Jan 2005
                  • 8452
                  #5
                  Tax cuts seem a tad silly when we have to pay back your pointless war.

                    Comment

                    • kane
                      Too lazy to set a custom title
                      • Aug 2001
                      • 20684
                      #6
                      Originally posted by GatorB
                      Most people get too much taken out of their paychecks anyways. when I see someone bragging about a huge refund I think "what and idiot. he's happy he gave the governemnt an interest free loan for a year"
                      I have a friend that is married and has 3 kids. He claims single 0 on his taxes so he overpays by a lot each year and then gets a huge refund every year. I tried to tell him to just claim what he should and set it up so that the extra each check automatically goes into a savings account so he can at least get some interest on it, but he won't do it. He sees it as a savings account of sort. The funny thing is he will say, "I know it stupid, but I just can't owe. If I ended up owing at the end of the year I would flip out."

                      I asked him how he would feel if one year instead of getting a refund he got an IOU like they gave out in California. He said he would come uncorked. He knows it could happen, but he still doesn't do anything to change it.

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