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Author: Subject: 2009 Tax Return....WTF??

Zen Peach





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  posted on 1/5/2010 at 03:25 PM
I haven't filled out the forms yet, but some quick calculations show that there is no middle class tax cut. I'm one of the 95% that Obama mentioned so often during his campaign, but to no avail. No cut whatsoever. I wonder what happened? It's unlikely that you will hear one word about this on the news, so I thought I'd put it here. For all the other middle class workers here, sorry things didn't pan out.

 

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Zen Peach



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  posted on 1/5/2010 at 03:29 PM
My Federal withholding went down back in, oh, March of 2009. It was almost instantaneous. Don't know what happened with anyone else.

 

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Zen Peach



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  posted on 1/5/2010 at 03:34 PM
The tax cut you speak of and he spoke of was part of the $787 billion dollar stimulus in early 2009...that did pass Congress and was signed into law, are you saying the money vanished?

 

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Zen Peach



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  posted on 1/5/2010 at 03:38 PM
I saw a change in my pay stub also, but owing the same at the end of the this year as in 2008 isn't really a tax cut. I guess it was more of a loan.

 

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Zen Peach



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  posted on 1/5/2010 at 03:41 PM
quote:
I saw a change in my pay stub also, but owing the same at the end of the this year as in 2008 isn't really a tax cut. I guess it was more of a loan.


Hmmm. Haven't gotten my W-2s yet so it's hard to say one way or the other for me, I suppose.

There's a lot of other things available this year when it comes to tax breaks and such from what I read. You must be some kind of sadist to start working on your taxes this early.

 

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Zen Peach



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  posted on 1/5/2010 at 03:48 PM
quote:
quote:
I saw a change in my pay stub also, but owing the same at the end of the this year as in 2008 isn't really a tax cut. I guess it was more of a loan.


Hmmm. Haven't gotten my W-2s yet so it's hard to say one way or the other for me, I suppose.

There's a lot of other things available this year when it comes to tax breaks and such from what I read. You must be some kind of sadist to start working on your taxes this early.


Yes, I waited till the last minute in 2008 and got caught short when I realized what I needed to send in. Had to break it up into payments.

 

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Maximum Peach



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  posted on 1/5/2010 at 03:49 PM
Most of his promised tax cuts were never proposed to be in the form of lower actual rates for everyone. They were tax credits for certain individuals who qualified under a variety of conditions. I haven't followed to know if each of the promised programs came to fruition or not, but if so, those who qualify will probably see the benefit in terms of credits applied when they fill out their tax returns this spring.

As Hawk mentioned, some folks did see a slight lowering of their rate. If I remember correctly, these resulted in something like $5-$15 a month in lowered income tax withheld.

But with 2010, it won't matter. The Bush tax cuts stop, which affect everyone, unless the Prez & Congress decide to intercede. And of course, new taxes for the health care debacle will start as soon as they can get that in place. Pay now; but get nothing for four years. Such a deal!

 

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Zen Peach



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  posted on 1/5/2010 at 03:58 PM
Apparently he meant that 95% would qualify for one of his tax credits then. I'm not one of those 95%...Ohh weellll.

 

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Maximum Peach



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  posted on 1/5/2010 at 04:04 PM
All I know is that I'm not one of the 95%, and apparently you're not either.

But maybe next year I hit the bonanza. My unemployed status should bring my income down to potentially qualifying levels.

 

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Zen Peach



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  posted on 1/5/2010 at 04:06 PM
quote:
Apparently he meant that 95% would qualify for one of his tax credits then. I'm not one of those 95%...Ohh weellll.


No, technically, he didn't lie. The Federal withholding went down. I'm sorry that you wanted more or maybe don't want to pay taxes at all, but, he came through on that promise. Even if it was a $15 cut, it was a cut. He himself even said that the most anyone would save is about $60 a month. No hiding, smoke, mirrors or lies that I see.

 

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Zen Peach



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  posted on 1/5/2010 at 04:09 PM
I get it. You guys were expecting a $500 check sent to everyone a la President Bush?

 

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Zen Peach



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  posted on 1/5/2010 at 04:16 PM
Not really, Hawk. I was just hoping to pay a lower total amount than I did last year and it didn't come to pass. Kind of sleazy, but that's politics.

 

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Zen Peach



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  posted on 1/5/2010 at 04:22 PM
quote:
Not really, Hawk. I was just hoping to pay a lower total amount than I did last year and it didn't come to pass. Kind of sleazy, but that's politics.


He was straight up about what it was from the get go. He said exactly what he was doing when he had the press conference after he signed the stimulus package.

 

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Zen Peach



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  posted on 1/5/2010 at 04:40 PM
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Not really, Hawk. I was just hoping to pay a lower total amount than I did last year and it didn't come to pass. Kind of sleazy, but that's politics.


You obviously didn't get the "Vote Democratic" tax cut.


OK, I laughed

 

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Zen Peach



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  posted on 1/5/2010 at 05:01 PM
quote:
My Federal withholding went down back in, oh, March of 2009. It was almost instantaneous. Don't know what happened with anyone else.


That was the Obama "Make Work Pay" plan. I'm furious over it right now. I only worked part time last year and didn't make sh!t. And due to the economy as it was I sold zero photography. Barely over the poverty level and I owe money. I don't know how I'm going to pay back the money that I wish they'd taken out in the first place.

At least when GWB gave me $600 I got a lump sum and I didn't make enough money to have to give it back.

[Edited on 1/5/2010 by fast43]

 

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Zen Peach



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  posted on 1/5/2010 at 05:04 PM
And one more thing, last year the instructions for the 1040EZ was 25 pages, this year it's 40

 

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Universal Peach



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  posted on 1/6/2010 at 12:02 PM
quote:
My Federal withholding went down back in, oh, March of 2009. It was almost instantaneous. Don't know what happened with anyone else.


Same here, Bhawk.......For me it amounted to about $50 bucks more per month in net income. On an annual basis it's just about enough to cover my annual Mt. Jam expenses. Thanks, Obama.

 

World Class Peach



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  posted on 1/6/2010 at 12:13 PM
I'm just glad i have a dependent i can claim.


Uncle Sam.

 

Zen Peach



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  posted on 1/6/2010 at 12:34 PM
quote:
quote:
My Federal withholding went down back in, oh, March of 2009. It was almost instantaneous. Don't know what happened with anyone else.


Same here, Bhawk.......For me it amounted to about $50 bucks more per month in net income. On an annual basis it's just about enough to cover my annual Mt. Jam expenses. Thanks, Obama.


What good does it do when you have to turn around and send the money back in, as I will? That's NOT a tax cut!

Don't thank Obama, thank yourself. It's not his money to give back to you anyway - It is (was) your money.

[Edited on 1/6/2010 by alloak41]

 

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Zen Peach



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  posted on 1/6/2010 at 12:37 PM
Amazing that the conservatives are complainig about Obama not getting them the handout they were promised.

 

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Zen Peach



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  posted on 1/6/2010 at 12:47 PM
quote:
Amazing that the conservatives are complainig about Obama not getting them the handout they were promised.


Letting me keep more of my own money - as he promised to 95% during the campaign - is not a handout. How is that a handout? Seems that the 95% are the one's giving the "handout." Cutting taxes at the payroll level, and clawing the money back upon filing your next tax return after promising a middle class tax cut 3,000 times is absolute BS. Imagine if Bush pulled this stunt.

 

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Zen Peach



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  posted on 1/6/2010 at 12:58 PM
But you said you haven't filled out the forms yet so isn't it possible when they arrive and you fill them out you might discover something new? I'm just asking....we haven't even gotten our forms yet.

 

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Zen Peach



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  posted on 1/6/2010 at 01:07 PM
quote:
quote:
Amazing that the conservatives are complainig about Obama not getting them the handout they were promised.


Letting me keep more of my own money - as he promised to 95% during the campaign - is not a handout. How is that a handout? Seems that the 95% are the one's giving the "handout." Cutting taxes at the payroll level, and clawing the money back upon filing your next tax return after promising a middle class tax cut 3,000 times is absolute BS. Imagine if Bush pulled this stunt.


My, my, my, how sensitive.

Whatever Bush would have done, you would have justified it and blamed any negative result on the liberals.

 

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Zen Peach



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  posted on 1/6/2010 at 01:09 PM
quote:
But you said you haven't filled out the forms yet so isn't it possible when they arrive and you fill them out you might discover something new? I'm just asking....we haven't even gotten our forms yet.


I file the basic 1040 don't itemize deductions. When the booklet came it took only a few minutes to plug the numbers in and calculate what I'll be sending in.

 

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Zen Peach



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  posted on 1/6/2010 at 01:22 PM
quote:
quote:
quote:
Amazing that the conservatives are complainig about Obama not getting them the handout they were promised.


Letting me keep more of my own money - as he promised to 95% during the campaign - is not a handout. How is that a handout? Seems that the 95% are the one's giving the "handout." Cutting taxes at the payroll level, and clawing the money back upon filing your next tax return after promising a middle class tax cut 3,000 times is absolute BS. Imagine if Bush pulled this stunt.


My, my, my, how sensitive.

Whatever Bush would have done, you would have justified it and blamed any negative result on the liberals.


You got that right, and you're about to piss me off equating a tax cut with a handout. After Obama basing so much of his campaign on this, and not following through, I'm surprised you're trying to explain it away like it's nothing. He was like a broken record with that 95% line, and nobody had a gun to his head to keep repeating it......Then, dragging Bush into it? I know you can do better.

 

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