Tax Day Rant - Anyone else's federal taxes go way up like mine did?

[wordpix2]

Let's hear your tax day stories, folks! And then we can use this info when the Bushies say the repukes are doing a wonderful job "keeping taxes down." Yeah, right. It's getting to the point that a native born, well educated American cannot afford to live in the US anymore.

I just did my taxes. My fed tax bill was $2301 last year and $3159 this year, even though my AGI for 05 was $300 LESS than last year.

On top of this fed tax increase, my property taxes went up $400 in 2005 with more increases coming this year. In addition, I paid $1,200 more than last year in heat and electricity costs, even though I turned my thermostat down from 64 F in '04 to 62 F in '05. My salary rose a whopping $300 in '05 to pay for all this. NOT!

I'm glad it's going so well for the repukes (not!) but I am steaming. I'm also looking for a new job because my old one doesn't pay the bills anymore and my boss won't increase the salary. ("We have increased expenses, too.")

* and the repukes love to say they're keeping fed taxes down but it's obvious to me they aren't.
SHIT on these mfu$$!!**ing repukes! May they rot in jail, all of them! :puke: :mad:

[annabanana]

1. Well that's what you get

for not being in the top .01%

- slacker -

[maxsolomon]

2. but think about what you get for your tax dollars!

free health care & ... wait...

wrong continent.

[rkc3]

4. you can only get free health care if you come across the border illegally.

At least that's what I heard this weekend on the tube.

[DBoon]

16. Dang! I knew it!

it's all the fault of those illegal aliens! They are ones that are sending our taxes sky high!

Or as they said in a Dilbert cartoon, "Bring me the head of Willie the mailboy"

[dogday]

3. But, but, but what about tax breaks????

They benefit everyone, right?????:sarcasm::sarcasm::mad:

[NYC]

6. Yes, he should wait. Someone will trickle on him soon.

Tax breaks for the rich.

[AlCzervik]

5. we owed the feds over 2k--we got a refund last year and we broke even

on state taxes--our income was down last year as well so we sure aren't getting any benefit from any Bush tax breaks.

[ThomWV]

7. I Just Wrote Checks For $11 Grand ... And I Am Retired

And live on $24K a year.

[dogday]

8. Holy Robbery Taxman

that is ridiculous, why so much?????

[wordpix2]

9. oy vey

[mr_hat]

19. C'mon. The whole story here, please.

[ThomWV]

24. Sure

I worked one month into 2005 and then took the earliest possible retirement from a shit Government job. I withdrew enough money from retirement savings to pay off every debt we had on earth. That, along with the month's pay, and repayment of a loan I had out against my Thrift Savings Account plus withdrawal penality gave me an income for the year of about $160,000. That would be about twice as much as I was making a year. They took out Federal taxes but not state. I ended up owing the Feds 4 grand and the state 7 grand. And that is how it worked out.

[Yupster]

22. You sure you didn't miss a zero somewhere?

Why so much? Something unusual must be going on with your income. Did you take a big chunk our of your defined benefit plan to buy a car or something? Do you owe tons from previous years? Did you make $ 80 k of non-qualified investment income?

[Lena inRI]

10. I hear ya loud and clear. . .

BushCo using the U.S. Treasury like their personal bank account while their agenda to kill off the middle class is evolving right before our eyes. . .

TAX REVOLT

2006

RATBASTARDS!
:grr:

[onenote]

11. can't tell why from info provided -- could it be mistake on your part?

If you are saying that your total federal income tax bill (including amounts withheld) for the year was $3159, that means your taxable income was around $23,500. You say your salary went up $300 but your AGI went down $300, so something must have reduced your AGI -- less interest or dividend income? Smaller capital gains? DId you have any of those things either year? Larger student loan deduction? Something had to cause your AGI to go down when your salary was going up, and it was either less income from other sources or greater deductions. As for the question as to why your tax liability increased, that would reflect, presumably, that your taxable income went up even though your agi was less. If you itemize deductions, it could reflect the fact that your deductions decreased.Of course, the standard deduction went up in 2005 as did the personal exemption, so those would make your taxable income (and your tax) go down.

Anyway, your tax of $2301 last year suggests that you had a taxable income of around $17,700. If you had the same taxable income this year, your tax would be the same. If you have six thousand dollars more in taxable income, but a lower AGI, there are two likely explanations: you had itemized deductions and took fewer of them by a significant amount or you screwed up your calculations.

onenote

[Infomaniac]

12. Let me guess. You've been Alt Min'ed.

I watched my federal tax refund go from $5200 to $2600 because of the Alternative Minimum Tax, which is now starting to hit wide swaths of middle-income people. It's going to get worse next year if Congress doesn't extend a patch designed to limit the AMT's impact.

[DBoon]

14. Alt Min is a republican plot!

By forcing more middle-income taxpayers to pay at a high income rate, it is supposed to create political sympathy for tax cuts for the wealthy.

Alt Min has never been adjusted for inflation since 1969 - if it had been, it would only apply to incomes over about $600,000

[wordpix2]

17. "Alt Min has never been adjusted for inflation since 1969"--WTF?

No, I wasn't alt min'ed---I believe my increase was due to the not "making the tax cuts permanent." OK, the tax cuts weren't made permanent but somewhere along the line, they were increased this year. And with 300 less AGI and all the high energy costs.

[DBoon]

18. It's true!

It was meant to ensure very wealthy people could not use a ton of deductions to get away with paying few (or no) taxes.

It was supposed to kick in at an income level that in 1969 would have made one very affluent.

It was never indexed, as were the other brackets, so due to inflation that "wealthy" income has gotten closer to "middle class"

And I think for republicans to do nothing about this is purely intentional.

[mtnester]

15. We have been alt mined for 5 years now

every year, I redo my W-4, adding an extra $25.00 each week, along with married, but withholding at a higher single rate.

And EVERY year, we have to file separately just to pay only $500.00 to the federL goons. And last year, we started a new business and hubby did not take any pay for 5 months, and WE STILL OWED.

This, because we will not go into debt beyond our means.

[DBoon]

13. our taxes went down

of course our income dropped too

[Radio_Guy]

26. Same here

My total tax is lower, but my AGI was $5,000 less than it was in 2004. That's because I don't work for CC anymore. I sleep better at nights since I stopped working for that corporation.

[Greybnk48]

20. We just mailed out $2,300 to the feds this a.m.

and our heating bills have been through the roof, even with conservation. Our lowest bill this year was Nov. and that was $350.00 (for gas and elect).
My husband and I together make good money and we are struggling to save anything. It's ridiculous.

[sandnsea]

21. My son made a whopping $5,000 last year

He got $12 back, they actually kept $50 from him. How much lower income can you get than $5,000 a year??? So much for poor people not paying taxes.

No, it's not anything like what you're complaining about, but still. Oh, and guess what, the estate tax hasn't even kicked in yet, and some other tax cuts for the wealthy.

Tax Accountability Day
http://www.lightupthedarkness.org/blog/

[davidthegnome]

23. Good post

My dad is going crazy about his own tax situation. He has to pay in like four grand. I guess we could be considered an upper middle-class family, but his income taxes are insane, and property taxes are a bitch too. I don't know all of the details, because I'm somewhat ignorant of the situation - I've never really made enough money that I've had to worry about paying in. Of course, I'm only 22, that could change in the near future. It's the gass prices that are really killing us though (yes, I live with my parents). Three bucks a gallon, and we have to drive like 30 miles to get to work every day. After my buddy did me a favor and wrecked my last car, I decided it wasn't worth it to get another one. I try to carpool when I can now, had to miss work a few times over the winter.

Electricity hasn't been that bad... but heating... great merciful fucking Christ.

[RebelOne]

25. I paid $362 in federal taxes last year.

I would have had to pay $414 this year, but fortunately, I was able to contribute $1,000 to my IRA, which brought my tax payment down to $194. But I am receiving $379 state tax refund. Go figure!!

[Xenotime]

27. * took more of your money..eh?

That's what you get for living in this country.

[KharmaTrain]

28. Guess The Grass Truly Is Greener

In the 80's, I my wife and I were working 60 hours a week each and we barely made 20K a year...but because we rented, had no children and other deductions and I had started to invest and save what I could, I got hit every year...one year I had to take out a "loan" with a relative to cover the taxes since I didn't have enough in the bank to cover.

Now, I won't go into specifics, but I now can earn what I did for the entire year in a month, and my tax load? I got a refund! Yep, I take advantage of every deduction I'm given and can afford an accountant who comes up with something new every year to "beat the system".

It depends on what side of the fence you're on. For years I've been conflicted as I have never supported this regime's disasterous economic policies, yet there are some I can take advantage of...and as I'm told, "principles don't matter when you need to make a mortgage payment".

The taxing system is a disaster and either needs replacement or drastic revision. While Federal taxes go down, state and local continue to rise to try to make up for the shortfalls of our tax dollars that used to go from Washington to our local schools, roads and infrastruture and now goes to Haliburton and the corporate welfare system (and more tax breaks for them).

Cheers...