Skip to comments.Delays to Tax Tables May Dent Paychecks (higher witholding for everyone in 2011)
Posted on 10/07/2010 7:19:16 AM PDT by reaganaut1
Lack of congressional action on 2011 income taxes may force the Treasury Department to make unprecedented moves to prevent U.S. workers from seeing large tax increases in their January paychecks.
The issue: 2011 tax-withholding tables. Treasury officials usually release the tables, which determine the take-home pay of millions of wage-earners, by mid-November because it takes payroll processors weeks to adjust their systems before Jan. 1.
But congressional leaders recently postponed voting on taxes until after the election and lawmakers don't reconvene until Nov. 15. The Senate is scheduled to take up several nontax issues when it returns and is expected to leave for Thanksgiving soon after, possibly pushing a vote on taxes into December.
"Things get very dicey after the first of December" because of employers' need to know the 2011 rates, said Michael Graetz of Columbia University Law School, a former Treasury official.
Lawmakers' recent track record on dealing with tax matters doesn't inspire confidence that they will act with dispatch. Congress has yet to resolve the estate tax, which expired at the end of last year and is set to snap back to high rates come January. Nor has it tackled the alternative minimum tax for 2010, a levy that is set to hit 32 million taxpayers this year, compared with five million last year.
Some Capitol Hill tax staffers have suggested that the Treasury could set 2011 withholding at current levels for joint filers earning less than $250,000 ($200,000 for single filers), on the assumption that Congress seems likely to enact this change. Others have suggested that if Congress doesn't act in time, Treasury officials might consider a one- or two-month grace period in which it maintains current tables until Congress passes tax legislation.
(Excerpt) Read more at online.wsj.com ...
"Some Congressional staffers" think the Treasury Department is supposed to guess what Congress will do rather than implement the laws it has passed.
It's about time that people FELT the taxes they are paying.
See how easy that is?
Don't even need the kind'a cool, stroke o'the pen ... just do nothing.
All incumbents out.
The many new tens of millions that will pay AMT better save a chunk of money now, for the bill will be due in April on money they are earning NOW- no time for withholding to catch up
Ads must go for our enemies jugular and expose their treason and arrogance against the American people. The enemies within must be exposed for what they are. RATs fear exposure more than anything else.
Obviously the correct answer.
This deserves a protest! A serious Pitchforks and Torches protest!
Before the new congress is seated, before the new year, I would love to see 100,000 Americans on the Capital Mall in a nighttime protest, where I’d love to see 100,000 angry tax-paying Americans light their torches and march up to the White House or the Capital and shake our pitchforks and torches at them. I would call it the “Fair Warning” march.
I would be willing to donate hay, pitch, labor in making torches, I would gladly pass them out and would absolutely delight in watching these torches be lit one by one...
I would be willing to donate pillows (or feathers) and I am sure I could find someone willing to donate at least one large bucket of cold tar.
After a few speaches and the lighting of the torches, march up to the Capital for a few chants, a few speaches, and then we can sing a few patriotic songs. The last words from some speaker/leader will be “You are duly warned.”
And then we can all leave in a deafening silence.
The point would be to let them know, we came to give them a warning, that we love America, and if they continue to ruin it, and fail to heed our warning, they need to leave.
They need to fear us.
April 14 should be Tax REVOLT Day if they allow this to happen. Everyone files the forms, but sends in a check marked VOID. In the memo, I would put, “You no long have consent to govern.” Even if only 3% of returns are done this way, it would be enough to starve Leviathan.
” After a few speaches and the lighting of the torches, “
All of those open flames would bring out the EPA SWAT teams - especially if it’s a “no-burn” night.... ;)
PITCFORKS, TORCHES, TAR & FEATHERS.
It needs to be symbolism they cannot ignore.
I will personally be willing to risk it. They bring out SWAT...Really? They want a Kent State incident on that scale on the Capital Mall?! Really?
My life is worth it! My country is worth it!
The patriots of old did not wave torches and pitchforks like political signs. They literally threatened to use them. I think a symbolic use of them would read like a cheap political ploy at the very least and a violent mob at the worst. I reject this idea, because real police or military force would flood the streets in response. Do you want that to happen?
Note the switcheroo where they mention singles earning less than $200,000. Originally it was $250,000 that Obama’s promised would not see tax hikes. Did he specify joint filers? I don’t think so. As it is, I only make 18K so no matter what happens, I am screwed no matter who is in office.
They're NOT tax cuts! Either our taxes stay the same or they are raised.
"Obama promised not to raise taxes, but come this January, every working American will get a smaller paycheck because the Democrats have raised your taxes beginning this new year."
I don’t see it as a ploy...
And what do you imagine happens if they use force on a peaceful crowd?
I am talking about a “Fair Warning.” If they decide to initiate force, then they have given their answer...
The original true patriots pledged their lives for this country. That is a very serious and personal decision. I do not take it lightly.
My country is worth it. The country I love is worth my life.
If it’s ‘cheap’ and they respond with bullets as you contend, then how ‘cheap’ is it really? It’s hard to call it cheap, if you really do feel lives are at stake.
I wish you luck then with your pitchfork in front of police bullets or a tank.
I do not believe most Americans think that the time is ripe for armed revolution. And if they did, I don’t think they would use pitchfork and torches. The Second Amendment stands in defiance of such limited force from the citizens.
“23 Million Americans Hit by a Tax Hike, But They May Not Know It Yet”
Imagine the scene just described...
100,000 pitchfork and torch bearing Americans at night surrounded by police or other armed units.
If we yell, chant, sing...What do they do? If we are peaceful - even if we are demonstrably ‘angry’ - but take no action that can that initiates the use of force...What do they do?
I can easily imagine they stand by until the protest is over.
If a riot breaks out -God forbid - the symbolism is very dangerous all the way around, but it will be noted by both sides that the time for action has arrived and that ‘fair warning’ will have been answered.
After that...After that decision is made to initiate the use of force has been made by the authorities, then you can more concretely assess which side you are on, what action you will take...
I am not advocating a mob like the lefty anarchist types who destoyed shops, cars and all that and rioted...
They know that the patriots of old didn’t show up to just wave their torches and pitchforks, but we can announce this as an angry but peaceable protest...We can announce it as a “Fair Warning.” Let our actions speak louder than our words.
But let me be clear...They symbolism - regardless of the method used - should be unmistakable.
The government that takes such action against it’s people should indeed fear the reaction of those people. They should fear us. They need to take note before the new congress is seated, so they can have the proper debate and take action to address matters....
Right here, right now, it is not apparent to me we are being heard, because they persist in the direction of tyranny.
I think a statement like that - or similar - I am certainly open to suggestions - but a bold statement needs to be made to get their attention.
I want to hear President Obama or Speaker Reid or Speaker Pelosi say, “OK. We hear you. We’ve gone too far...”
I equally want to hear them say to the American public, “You can’t do this...You have to obey your leaders...We have to do this because...”
We take our stand, so they have to take their stand.
Let the lines be drawn boldly so American - each an every one of us - knows on which side they have chosen.
the GOP needs to get out in front of this story NOW, lest the millions of Dunderheads out there blame them when their paychecks get smaller the very same month they are sworn-in to control of Congress.
I wish you luck with what is left of your country when the patriots are dead and eveyone has given up....
When Security is paid for withLliberty...You will have none of either.
I wish you luck with what is left of your country when the patriots are dead and eveyone has given up....
When Security is paid for with Liberty...You will have none of either.
I didn’t say you couldn’t bring your gun...I think that perhaps that could be another march, depending on how this one goes...But that’d be another discussion all together.
I am not attempting for foment revolution. I am attempting to foment a revolutionary spirit, a spirit that says, defiantly, the line is drawn here.
I don’t believe that I’m throwing away my liberty. I just believe that the moment is not right for armed revolution. That decision would be made within my family, it would not be made on a political forum. And if it came to that, I would have no problem defending my liberties. I just don’t believe that the time is right, today.
This is evidenced by the fact that I am not traveling to DC this weekend in protest.
I want to see what the results are for this much anticipated election before I give up all hope.
I think that Silence is Acceptance.
If you are silent on the issue - any issue - you accept the status quo.
Every person has to make their own decision. I wouldn’t have it any other way...
I don’t think the elections will be enough...I think the next brand of leaders could lead us down this same road sooner or later and we must hold them accountable now. Today, before they get in office.
It is only fair we confront them as well. They are either with the tyrants or they are against them. They say they want our support...They can have it if they want to help us carry pitchforks, torches, tar and feathers into the hall of the House and demonstrate to us that they truly represent us and not the tyranny instituted there.
When should we protest?
If not today, when? When do we say we will no longer accept this? How much more are you/we all willing to accept?
That’s what you are saying...You are saying, I will accept a little more tyranny for now...Maybe later I won’t accept any more tyranny, later, but this level of tyranny is acceptable. I can live with this.
I can not.
I can not accept any more tyranny.
I want the leadership to be confronted - to feel absolutely confronted - with having to decide to show us truly if they are serious in their tyranny or not.
I am not so delusional as to believe they will just get up and walk out quietly....
I am also not so delusional as to think they will have any other response other than the initiation of the use of force at some point, because that is the last argument of tyrants.
I think that too many Americans want someone else to be the Patriot, someone else needs to stand up for them, for their Liberty, someone else to be their voice.
This is my voice.
I have had enough of Tyranny. For me, it stops here.
I’m happy for you that you feel so principled in your stand.
Perhaps my life is different from yours. But I would first seek the counsel of my husband, consider the ramifications for my children and then proceed. We could only come to such a decision as a family.
I think the mood is changing rapidly, but I don’t feel a tremendous push for revolution today. And I don’t believe that there are enough numbers to reach the 100,000 protesters that was mentioned above. I think more groundwork would have to be laid before hand.
I also believe that after this election there is a strong possibility that the tides will have changed enough that we can bring about the end of Obama’s presidency. I’m willing to wait and see if that is possible. I have that much faith in the Americans to reject Marxism and return to our founding principles. The Tea Party is a terrific start towards that end.
I didn’t say it was hope. I said it was a belief. I really think the Tea Party can continue to be a force for change in this country.
You have to understand that my point of view concerns my children. Before the Tea Party even existed my husband and I were explaining the principles and values that this nation was founded upon to our children, because they were being lied to at school. This is a part of the fabric of our daily lives, not a fad we fell into when we saw the Tea Party rallies start. We were already there.
When Beck had his 8-28 rally, I did not really pay that much attention to it, because I was already there. He talks about commiting your life and honor to God. We did that before it was his idea. He didn’t need to lecture me on how important it was to embrace my faith in God and use it as a shield against tyranny. I had already committed my life to Christ.
These movements, this upsurge in a desire to return to first principles, was something that I didn’t need to latch onto. I live my faith, I love my country and I’m raising my children to do the same.
I do not take my freedoms for granted. I do believe in America whole-heartedly, and this is why I believe that our republic can survive the likes of Obama, because we do not live or die on who wins an election. I live for the future of America. I do not kneel at its grave.
I am open to other ideas.
I welcome them.
I want to see that intermediary step that warns the leadership and confronts them with the choice of either giving up on such tyranny or defending it.
I have made my contribution to the marketplace of ideas. If there’s a better one, I want to know it. I will certainly support it.
Tyranny is cancer. It cannot be tolerated.
I wouldn’t have a problem with the AMT if it really was what it claims to be — an “Alternative Minimum Tax”.
Logically, you would think this meant “everybody should pay some minimum percentage of their income in Federal Income Tax.” Say 10%. But of course it doesn’t mean that at all, since half the people pay 0% and another quarter pay less than 10%. If it really did force everybody to pay 10%, the Individual Income Tax would bring in $1.4T — exactly the same revenue as the current tax system extracts from the half of Americans who actually pay income taxes. As a bonus, that $1.4T would replace Corporate Income Taxes as well, and allow the US to be one of the few nations that didn’t tax corporations to death.
Instead ... the AMT exists to make sure the successful people are denied the deductions and tax credits available to the unsuccessful. Somebody has to pick up the tab for the bottom 50% that pay nothing, right ?
Since the tax tables need to be adjusted anyway, why not invert them just for fun ?
Put the highest tax rate on the first chunk of income, then lower rates on successively higher incomes. Punish failure and mediocrity, and reward success. What a novel concept that would be.
Obama has already accomplished that. 63 cent national tax on smokes was a kicker for the poor. 10% to 15% on the poor is a 50% tax. Yea, he’s a genius. Thank God he never hit the rich.