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Old 04-16-2010, 04:18 PM
 
Location: Sango, TN
24,868 posts, read 24,388,397 times
Reputation: 8672

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Quote:
Originally Posted by hippydippyman View Post
My wife and I make well under $250,000. We didn't see any tax break.
Yes, you did. You got a bigger tax return, than you would have under the previous administration.

Of course, it doesn't say "This is how much more you got, than if nothing had changed", but maybe they should start doing that on tax returns.
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Old 04-16-2010, 04:18 PM
 
214 posts, read 130,668 times
Reputation: 60
Quote:
Originally Posted by Smash255 View Post
Yes you did, if you filed together you got an extra $800.
If we didn't our tax burden would have been $800 higher so how did Obama lower my taxes when I paid more this year even with the "Making Work Pay" credit?
There was very little difference in income from last year.
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Old 04-16-2010, 04:22 PM
 
3,219 posts, read 6,582,000 times
Reputation: 1852
What happens when the Bush tax cuts expire??

Yeah that's right increased taxes!

Should we Thank You for that Mr. POTUS?
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Old 04-16-2010, 04:22 PM
 
Location: Sango, TN
24,868 posts, read 24,388,397 times
Reputation: 8672
Quote:
Originally Posted by hippydippyman View Post
If we didn't our tax burden would have been $800 higher so how did Obama lower my taxes when I paid more this year even with the "Making Work Pay" credit?
There was very little difference in income from last year.
If Obama hadn't lowered your taxes, then you wouldn't have had the chance to get the 800 dollar credit.

See, if Bush tax policies in place you pay 800 dollars more. With Obamas tax policies, you paid 800 dollars less.

Thats your tax cut.
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Old 04-16-2010, 04:23 PM
 
9,961 posts, read 17,524,172 times
Reputation: 9193
Quote:
Originally Posted by janelle144 View Post

YouTube - We Will Never Say Thank You


When 51 percent can vote themselves all the benefits and force the other 49 percent to pay for it, that road leads to tyranny.
I got a refund this year for the first time in a few years. The reason--I sold most of my investements back in early 2008, didn't get back into the market until the year, so I had no capital gains or dividends that I was taxed on beyond my relatively middle-class income. According to you I'm just a freeloader apparently...Hmm, let's see, I have no kids clogging up our public school system, no visits to doctor charged to Medicare in the last year, no governement assistance programs I benefited from...I've paid increased costs for a lot of things I do use such as public transportation or recreational fees...
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Old 04-16-2010, 04:35 PM
 
Location: Long Island (chief in S Farmingdale)
22,188 posts, read 19,462,661 times
Reputation: 5305
Quote:
Originally Posted by hippydippyman View Post
If we didn't our tax burden would have been $800 higher so how did Obama lower my taxes when I paid more this year even with the "Making Work Pay" credit?
There was very little difference in income from last year.
How much is that 'very little difference'?? Also do you take the standard deductions or do you itemize your deductions??
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Old 04-16-2010, 04:35 PM
 
Location: South Fla
9,644 posts, read 9,846,025 times
Reputation: 1942
Quote:
Originally Posted by njguy View Post
What happens when the Bush tax cuts expire??

Yeah that's right increased taxes!

Should we Thank You for that Mr. POTUS?
Maybe we should thank him for increasing the debt hence increasing the amount we all owe for our share of the debt
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Old 04-16-2010, 04:36 PM
 
Location: Long Island (chief in S Farmingdale)
22,188 posts, read 19,462,661 times
Reputation: 5305
Quote:
Originally Posted by njguy View Post
What happens when the Bush tax cuts expire??

Yeah that's right increased taxes!

Should we Thank You for that Mr. POTUS?
The only cuts that will expire are for the top two brackets. For couples making in excess of $250,000 and Individuals making more than $200,000.
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Old 04-16-2010, 04:41 PM
 
214 posts, read 130,668 times
Reputation: 60
Quote:
Originally Posted by Smash255 View Post
How much is that 'very little difference'?? Also do you take the standard deductions or do you itemize your deductions??
Standard deduction. The difference was less than $1,000.00. We are no where close to combined income of $250.000.00 dollars. Last year we could claim 100% of our property taxes. This year we could only claim $1,000.00. Wasn't that a tax increase? If you are responsible, hard working individual or couple this year you got penalized.
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Old 04-16-2010, 04:43 PM
 
3,219 posts, read 6,582,000 times
Reputation: 1852
Quote:
Originally Posted by Smash255 View Post
The only cuts that will expire are for the top two brackets. For couples making in excess of $250,000 and Individuals making more than $200,000.
Okay I stand corrected to a point. However they are still expiring for the rest who would potentially create private sector jobs in small businesses.
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