CA Declares State of Fiscal Emergency...

[Homeslice]

Originally Posted by Trip

Bush gave the tax cut, Obama is trying to extend it.

I am referring to this:

http://www.nytimes.com/2010/10/19/us...s/19taxes.html

My take-home went up by $20 or so compared to last year, and I'm guessing it was because of that.

[goof2]

Originally Posted by Homeslice

Bush sent me a tax rebate check, Obama gave me a tax cut. Personally I prefer the latter, since it doesn't require a ton of wasted postage.

Direct deposit for the win.

Originally Posted by Homeslice

I am referring to this:

http://www.nytimes.com/2010/10/19/us...s/19taxes.html

My take-home went up by $20 or so compared to last year, and I'm guessing it was because of that.

I'm not saying it won't hold up for you, but wait until you file before you count that money. For some their withholding amount was adjusted too much which will result in them not having withheld enough to cover their approaching tax bill.

[shmike]

Originally Posted by Homeslice

I am referring to this:

http://www.nytimes.com/2010/10/19/us...s/19taxes.html

My take-home went up by $20 or so compared to last year, and I'm guessing it was because of that.

It was.

The problem is that the IRS restructured the withholding tables and employers are often withholding less than they should be.

That means that while your take home should have gone up by $10, it went up by $20 (made up numbers). When people filed their taxes and got a smaller than usual return (some even owed), they thought their taxes went up.

A pretty simple explanation is here: http://www.savingtoinvest.com/2009/0...ecks-1000.html

FTR, Bush cut your tax rate, THEN sent you a check.

[Captain Morgan]

Originally Posted by Homeslice

I am referring to this:

http://www.nytimes.com/2010/10/19/us...s/19taxes.html

My take-home went up by $20 or so compared to last year, and I'm guessing it was because of that.

Wait until your new healthcare rates kick in at the first of the year and see where your check stands.

[101lifts2]

Originally Posted by Homeslice

I am referring to this:

http://www.nytimes.com/2010/10/19/us...s/19taxes.html

My take-home went up by $20 or so compared to last year, and I'm guessing it was because of that.

You got 320 bucks with Bush...and 20 bucks with Obama and you want the Obama tax cut. I must be missing something here....