Don't forget your share of the Bush "tax cut"!

[Cursive_Knives512]

This is from a pullout of the American Federation of Teachers magazine, April 2004 issue.

Adding up this year's expenses?
Don't forget your share of the Bush "tax cut"

Higher college costs (after government higher ed cutback)......$746
Higher property taxes (reduced aid to cities).........................$749
Higher medical costs (state contribution cut; higher copay).....$2,000
Preschool tuition (public school program cut)........................$3,750
An extra $300 on your 2003 federal tax refund check.............Meaningless

Some things in life are tough to afford....
President Bush's tax cuts are one of them.

[bigwillq]

1. Please don't throw anything at me but

My parents are getting a refund for the first time in many years and I think it's cause of the shrub's cuts. Sorry I just had to share.

[Cursive_Knives512]

2. Yeah, the tax cut is cool and all

It's just that compared to the funding he's cut back on, it doesn't seem to be that much.

[bigwillq]

3. The funding is why I disagree with the tax cuts

I mean cool for my 'rents (my mom's buying a new kitchen floor) but they had to cut some many programs in order to make the cuts possible. I liked how the taxes were during Clinton's adim. So you pay more taxes but we get to keep important programs. In the end, that way, everyone wins.

[alcuno]

4. My folks are making out like bandits while I..............

am not getting much of a refund. Remember all that mortgage refinancing? Well my interest was a lot lower so my deduction is as well. I've already spent my money by paying lower interest. I'm not complaining, but I think some people who have been expecting this generation of refunds into the economy may not realize that a good portion of it's already there.

[question everything]

6. If you refinanced in the middle of the year

and will have a similar income in 2004, watch your return real careful already.

I have calculated that our deductions are going to be so much lower and our tax liability so much higher that both of us are filing new W-4 with our employers for less exemptions.

Hey, I am not complaining. I am just glad that I caught this on time.

[alcuno]

7. It's got to be the mortgage interest for me.

I just went back and calculated for 2002 and 2003. Last year my federal taxes were 11.6% of my adjusted gross income. This year they are going to be 13.2% of my adjusted gross income. I've saved a bundle on mortgage interest, but that money is gone.

[BlackVelvetElvis]

10. My mother is on a fixed income

She lives off of my late father's social security, pension and dividends. She will pay no taxes this year because "Bush did something about dividends". She still calls him an asshole.

[havocmom]

15. what have their property tax rates done lately?

seems state, county and municipal governments are having to drastically cut services or raise taxes (or both) to make up for cuts in federal spending for services.

When one looks at other taxes, any federal refund may by an illusion.

Then there is the interest on the staggering national debt which will saddle you folks, you, your kids and probably your grand kids. That new kitchen floor is mighty expensive, all things considered. Hope it wears well.

[Kazak]

16. HELLO...McFly!!!

Did your parents property taxes increase? Did your parents medical costs increase? Add it up, Bush*'s tax cut(shift) = SHAM.

[neverforget]

21. Congrats to your parents. However, my wife and I had to PAY AGAIN

this year!!!! I just sent off the check to the IRS. GOD THAT FUCKING SUCKED giving it too * and his war. $900 last year and and $400 this year. The only reason it's lower this year is because we gave more to charity, not his so-called "tax cut". I really like how Boeing gets a billion dollar refund and my wife and I have to pay more! Where's the justice? FUCK BUSH AND THE HORSE HE RODE IN ON!

[Alex146]

5. Didn't Dean say this?

right before Kerry started attacking him about it

[Name removed]

8. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Cursive_Knives512]

9. The point was

To read the things in the parenthesis

[theoceansnerves]

11. how about

1. reduced federal financial aid = higher costs to students
2. reduced money going to cities = cities must raise property taxes
3. not sure what they mean but i don't think it matters to you
4. cuts in preschool programs = have to pay for your own preschool

[Vickers]

12. Hey, I'll send my $300 to you!

If you send me the amounts that I'm losing as detailed in the initial post...deal?

[alcuno]

14. My $300 went to a useful purpose - removing the Clown in Command.

As for property taxes, it's pretty simple to figure out if you put your mind to it. Reduced funding for FEDERALLY MANDATED programs in schools means that the locals have to pick up the tab.

[havocmom]

18. Wow, gone already. That was fast.

praise be to the mods!

[strategery blunder]

27. You make some overarching assumptions here

First: What about public institutions of higher education?

Second: When the feds cut general aid to states because of * tax cuts, it WILL affect property taxes because then the states either have to cut funding for municipalites, run huge deficits, or both. When municipalities receive less state aid, they must raise property taxes. Also, federal cuts to specific programs (maybe free/reduced cost lunches) force state/local governments to pick up the tab or deny assistance. Trickle-down economics the way it really works!

Third: Medicaid/Medicare? You can't tell me that programs on this scale have NO EFFECT on the market?

Fourth: I'll give you that one.:D

[The Whiskey Priest]

13. Very True

His economic package is a scam for the rich.

[arewethereyet]

17. nonsense

Adding up this year's expenses?
Don't forget your share of the Bush "tax cut"

Higher college costs (after government higher ed cutback)......$746
not for my kid

Higher property taxes (reduced aid to cities).........................$749
not in my town

Higher medical costs (state contribution cut; higher copay).....$2,000
not for my family

Preschool tuition (public school program cut)........................$3,750
no public preschool around here

An extra $300 on your 2003 federal tax refund check.............Meaningless
every little bit helps

[DemoTex]

19. I hesitate to share this tax story.

I sent in our 1040s today. We are getting a refund that could keep a destitute family going for a year. I am shocked.

My wife and I have relatively high incomes, and those are earned incomes. She has a PhD from Georgia Tech and I have my professional gigs (airline captain and writing). We work extremely hard (especially her) for what we have.

However, we are now being taxed at an un-fair rate. It is obscene that we are getting a refund of many, many thousand dollars at the expense of the federal deficit. Responsible wealth. Don't flaunt it, share it through responsible, sane taxation. Something that had to be said. In any less-moral personal world, we might be Republicans.

[question everything]

20. You need to change your exemptions

If you are getting so much refund this means that you gave the government interest free loan. Wouldn't you rather have more each month with your paycheck and little refund now?

During the 80s, when the stock market was going higher and higher, I was at a gathering of a group of Democrats and someone said - before the 1988 elections, I think - that we do not vote according to our pockets.
At least, during the 90s, it was clear that the stock market can do well under a Democratic administration, too.

[DemoTex]

22. I do what my CPA tells me to do

I was audited in the mid-70s and in 1982. You do not ever want to go through an IRS audit, even when you are squeeky clean. I went through two. I have used the same CPA since 1983. This year he charged me $1275 to do my taxes. Cheap, compared to my refund. The big refunds this year have nothing to do with exemptions. They are based on high income and the tax cuts. We are lucky duckies. Ask Bu$h.

[Yupster]

23. Do something positive with it

There are many charities that will use the money better than the government will.

[DemoTex]

24. I do. The entire tax refund goes to the Stewpot in Dallas, Texas.

That's where I did my volunteer work over the last few years. That's where my wife donates everytime her consulting firm gets a new contract.

[KharmaTrain]

25. I'm Getting A Bunch Back...Then Out The Door Again...

I'm one of those evil "rich types" (I swear I didn't steal it...30 years of very hard work)...and I found out this week I will be getting several thousand back...in all bringing my tax rate below 20 percent. That's the hidden part of this charade that really gauls me, even as I take advantage of it. The 20 percent of my income is not felt compared to how it was when I was paying 10 to 12 percent a year on a far smaller income and getting zero refund.

Of course whatever I save goes right back out for the higher property taxes, school referendum, gas prices, college tuition, insurance and virtually everything that's tied to any of the above.

The people who are getting off big are those with the multi-million dollar incomes...stashing away hundreds of thousands of extra dollars (they're expenses can't be higher than mine which aren't much higher than someone who earns 30k a year).

But this is Repugnican Amerika we're in. Who ever heard of homeless until the Raygun days? Also it was then that two incomes were needed to stay even with expenses...leaving little valuable time to be with children.

This regime is feckless and selfish. I've always believed that if the government wanted a tax cut that would really help the economy and the people, they'd suspend payroll taxes for 90 days...letting that extra money fuel spending. But I guess when you inherit the money, what's it matter how you keep it.

[question everything]

28. Tax refund isn't always a good thing - CBS MarketWatch

By MARSHALL LOEB and BRENDAN JANUARY
CBS MarketWatch

Perhaps you, like many, already have sent in your tax forms and are happily awaiting a refund check. It's nice to get the money, but you're forgetting one thing - it belonged to you in the first place. If you're getting a refund, you have provided the government with an interest-free loan. No bank would consider making such a deal, and neither should you. The money is yours, and it should earn you - not the government - interest income. A small refund is appropriate, but a large one should make you reconsider your tax strategy, including the number of your deductions.

DECIDING HOW MUCH TO WITHHOLD

This doesn't mean you should drastically lower the amount withheld from your paycheck. You don't want to scramble at tax time to pay the government. However, try to be as accurate as possible. To find out how much you should owe, go to the IRS Withholding Calculator www.irs.gov/individuals/article/0,,id =96196,00.html. You'll need your recent pay stubs and tax forms.

MAKING THE CHANGE

Workers who want to change their withholding need to file a revised IRS Form W-4 with their employers.

http://www2.ocregister.com/ocrweb/ocr/article.do?id=87525§ion=BUSINESS&subsection=MONEY_SMARTS&year=2004&month=3&day=27

[strategery blunder]

26. Being taxed out of home ownership by a tax cut: Priceless

Reduced aid to the states/municipalities resulted in not $749 in higher property taxes for my mother, but around $500 in increased property taxes EVERY MONTH.

The escrow on the mortgage kept going up and up...

She had to work 70-80 hours/week to keep the house long enough for me to graduate from high school; then she sold it that June because she was so burned out.

Granted, this was the perfect "trifecta" of aid cuts, explosive growth, and a state-mandated property tax exemption for first-year homeowners, many of which brought their kids into the system. This was not anticipated as mom bought the house BEFORE everyone else started moving in; second year, she was screwed.

Now I'm a college freshman. Thank God my grandmother saved all her life and never had to move after she bought her house (before my father was born); or else I would have no way to afford college except going into the military. :grr::mad:

I would have been screwed for pretty much the rest of my life.

Edit: This is exactly what shrub wants.
:grr::grr::grr::grr::grr::grr::grr::grr:
:grr::grr::grr::grr::grr::grr::grr::grr:
:grr::grr::grr::grr::grr::grr::grr::grr:
:grr::grr::grr::grr::grr::grr::grr::grr:
:grr::grr::grr::grr::grr::grr::grr::grr:
:mad::mad::mad::mad::mad::mad::mad::mad:
:mad::mad::mad::mad::mad::mad::mad::mad:
:mad::mad::mad::mad::mad::mad::mad::mad:
:mad::mad::mad::mad::mad::mad::mad::mad:
:mad::mad::mad::mad::mad::mad::mad::mad:

[Skidmore]

29. We owe this year....

AND our property taxes have gone up. We have no children at home now and I don't plan on getting pregnant so we'll probably owe next year too.