Posted on 11/29/2012 11:31:01 AM PST by Red Badger
Let it go into affect. REV II comes earlier than expected.
Yeh, but we all know the good consequences will be attributed to the genius of The One and the negative consequences will be blamed on the GOP, Bush, a hurricane, bad hair day, etc. The media is so afraid of this administration,,they don’t dare bark out of turn.
I never plan for a refund and have always raised my withholdings by 1 if I get one. I was looking for that sweet spot where I don’t get a refund and only have to pay a small amount.
I moved my 401(k) to a Roth and got married this year. On top of that, with all the crap going on in DC, the wife and I are preparing for a perfect storm of taxmageddon. I’m preparing for a tax bill well in excess of $10,000.
WE always claim 9 .... and save enough to be able to pay what we might owe....NO WAY is the government going to use OUR money during the year...
EVERYONE should up their deductions to 9....
Mine’s at 5 and I’ve seen my returns dwindle. This will be the first year in a while that I’m not a student, but my income also went up.
I wish they’d just do away with the current tax code, but I know that’s akin to wishing for a Skittle-shitting unicorn.
If the SPENDING is not dealt with NOW, nothing else matters anyway. It will only get worse and continue on until the NEXT FISCAL CLIFF when once again we (as in the taxpayer) is at a CRISIS again.
In all my years of living, there has ALWAYS BEEN A CRISIS that WE need to FIX with OUR money. I can't remember a year without one. They simply can't get enough.
Destroy their CREDIT CARD TODAY. If they don't, we need a MAJOR PROTEST IN D.C.
I do our taxes, and I don’t want Uncle Sam holding my money for a year, so we never get a refund. In fact, we pay withholding, but also I pay in a quarterly Estimated Income form, so I dole out (what I know we’ll owe at the end of the year) slowly to the gov’t., 4 times a year.
What does it get me in the end, nothing more than the satisfaction that they didn’t get our money ahead of schedule. Used to be some advantage to it when interest rates on savings were higher, but no advantage to it now that interest rates are so low...just satisfaction in knowing it’s in our possession until I absolutely have to pay :)
P.S. I pay it in quarterly to avoid penalties for not having paid in enough during the year.
Rush has been discussing chatter about taking away the 401k deductions. That will ensure that I stop making those contributions and move the money accrued to a better place. The bastards always have their hands in your pockets.
unintended consequences?
This was all agreed back in the day for the debt ceiling increase, right??
They may go after 401K’s AND IRA’s!!
I don’t calculate if I owe AMT, never have, never will. If the IRS want’s to do the work and determine I owe it and send me a bill, more power to them. But so far they haven’t...
This was all foreseen and intended. There is no Unintended Consequences. Nothing that happens in politics is unintended or unforeseen. They wanted it this way.
They deliberately and intentionally, with full knowledge and awareness, refused to index this tax for inflation.
Note that the same bastards indexed their pay and pension for inflation.
It’s not incompetence. It’s deliberate.
“Implemented in 1969 to make sure upper-income Americans pay their share of taxes, the AMT has increasingly snared more middle-income Americans over the years because it was never indexed for inflation.”
You can’t blame Pres. Bush for this one. This is the doing of the Democrat congress in 1996 playing the class warfare game, and now, with the shameful devaluing of the dollar by inflation over the decades, people making as little as
$33,750 are considered “rich” enough to pay this surcharge on “millionaires.”
Sound familiar? Obama’s class warfare/redistribution scam will gut the middle class just as Democrats have always done.
Every year they put a temporary patch on it because they don’t really want to fix it.
1969........not 1996......
Except there is a fine for both underpaying and overpaying on your W-4.
“We’ve always been at war with Eastasia, Winston”........
I expect them to. I moved to IRA to avoid the tax hit at retirement time, but since I’m 32, I was doing it anticipating that it won’t make a lick of difference anyway. I’ve got a job that pays me more than I expected to make, so the hit that comes in my taxes will likely be offset when I stop paying into my IRA after they confiscate it.
I just hope the market completely tanks and I lose everything in it before they think about taxing it. Let them pound sand.
I’m thinking that I picked a bad time to tile the kitchen.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.