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Reply With QuoteI'm not HUTC about this, obviously. I'm just curious about the disconnect between all of the Tea Party cries of increased taxes/socialism/etc when the truth is, the majority saw a decrease in their taxes.
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98% of working families saw tax cut in 2009 CTJ, Citizens For Tax Justice
According to a recent CBS News/New York Times poll, the vast majority of Americans do not perceive that they have received a tax cut from President Obama. Asked if the President “has already raised taxes this past year,” 53 percent of those polled said that the President has “kept taxes the same,” and 24 percent think that the President has “raised taxes.” A mere 12 percent believe that the President has cut their taxes.1
This is an astonishing level of misunderstanding. The truth is that the major tax cuts enacted in the 2009 economic stimulus bill actually reduced federal income taxes for tax year 2009 for 98 percent of all working families and individuals. These tax cuts saved working families and individuals an average of $1,158 on the tax returns they will file by April 15. (The median tax cut was approximately $600.)
Re: 98% of working families saw tax cut in 2009 The new tax credit, championed by President Obama as a follow-through on his campaign promise to provide broad-based tax relief, affects 95 percent of all Americans by cutting $400 from the total tax bill for individual filers and $800 for married couples.
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• Will Twitter Twist the Timeline?In an effort to jump-start the sputtering economy by putting the money into people's pockets as quickly as possible, the government also decided to pay the credit upfront and instructed employers to reduce the amount of federal withholding deducted from workers' paychecks over the last year.
But what millions of taxpayers did not realize was that to have the credit deducted from the total amount of taxes owed, they are required to complete a new form, Schedule M. For millions of retirees, the procedure also requires an additional step because they have to deduct the tax break, known as the "Making Work Pay" credit, from other tax credits they may have received.
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Re: 98% of working families saw tax cut in 2009 I'm not usually a poster in this forum, but just had to post on this one as an FYI...
My family is smack dab in the middle of middle class, and our taxes went up.... We made less this year and owed more in taxes. Part of our problem is that we are in California and they totally jacked us too.
I'm not totally HUTC about it, but it irks me...
Re: 98% of working families saw tax cut in 2009 Between federal, state and local taxes, it's usually a wash at best, a loss is normal anymore.Originally Posted by ishamarie
Coupons are found money - who walks by money on the ground??
Saving money ~ it's a way of life, not an attitude
Re: 98% of working families saw tax cut in 2009 My MIL is one of those SCREAMING her taxes went up. When I tried to point out that is IMPOSSIBLE (income/deductions/etc all the same) she called me a liar pretty much.
So, I cornered her husband (the one who does their taxes) and asked him to look at the difference between their bottom line last and this year...
Yeah... it was less.
WHat she couldn't get past was that when they filed, she owed the feds a couple hundred. She was ranting that they have ALWAYS recieved a refund, so therefor... her taxes MUST have gone up.
Um... when you change your withholding status mid year.... this can happen. When you claim more deductions through the year than you actually HAVE... this can happen.
In the end... she paid LESS. But it didn't matter... she had to send them money. THats all she cared about.
Education is key. But you'll never win an arguement with the ignorant.
Re: 98% of working families saw tax cut in 2009 Did you FEDERAL taxes go up???
If you are smack dab in the middle class... odds are 99.9% NOT. Now, if you lost a deduction or credit... than maybe... But that isan't a tax increase.
Re: 98% of working families saw tax cut in 2009 Great news everyone! Not only did many working families see a tax cut, so did Exxon! Yay for them! Despite bringing in billions of dollars in record profits for 2009, they won't pay A SINGLE DIME to good ole USA in taxes! Isn't America wonderful? I mean, isn't this what capitalism is all about? Raising gas prices on the backs of the working folks, so Exxon execs can walk away with record bonuses?
We shouldn't change this, slippery slope you know! I mean, if we fix these loopholes and regulate oil companies, who knows what could be next? Someday it might even be that we're ALL paying taxes, not just hard working Americans, but big Corporate Execs too! We wouldn't want that.
Re: 98% of working families saw tax cut in 2009 I saw a huge decrease in my taxes this year. I also saw a huge decrease in my earnings this year. Wonder if there is a correlation between the two?
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