Bubblegum.
What happens when you're all out of bubblegum?
Me, I'm going to use it to shore up the loss of income when my company gave us all a week off without pay.
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Is there an actual cut in the tax rate? I thought the rate remained the same but the amount withheld was being lowered? That is at the end of the year you will still owe the same amount as you would have anyways.
Sorry. This is probably the wrong site to be asking this. :) I just saw the post and wondered about the wording.
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Is there an actual cut in the tax rate? I thought the rate remained the same but the amount withheld was being lowered? That is at the end of the year you will still owe the same amount as you would have anyways.
Sorry. This is probably the wrong site to be asking this. :) I just saw the post and wondered about the wording.
Honestly, I don't know. When President Obama presented it, he did so as a rate cut. Whether it is a cut in the actual rate, or just the rate that is withheld, that I'm not sure one.
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Honestly, I don't know. When President Obama presented it, he did so as a rate cut. Whether it is a cut in the actual rate, or just the rate that is withheld, that I'm not sure one.Is there an actual cut in the tax rate? I thought the rate remained the same but the amount withheld was being lowered? That is at the end of the year you will still owe the same amount as you would have anyways.
Sorry. This is probably the wrong site to be asking this. :) I just saw the post and wondered about the wording.
It's a reduction of payroll taxes actually taken out that will equate to the stimulus amount per person/couple. That translates about $13-$15 per person per week. You'll get more if you're married.
Enjoy!
Honestly, I don't know. When President Obama presented it, he did so as a rate cut. Whether it is a cut in the actual rate, or just the rate that is withheld, that I'm not sure one.Is there an actual cut in the tax rate? I thought the rate remained the same but the amount withheld was being lowered? That is at the end of the year you will still owe the same amount as you would have anyways.
Sorry. This is probably the wrong site to be asking this. :) I just saw the post and wondered about the wording.
It's a reduction of payroll taxes actually taken out that will equate to the stimulus amount per person/couple. That translates about $13-$15 per person per week. You'll get more if you're married.
Enjoy!
~laughter~ Is THAT all it is? ~chuckles~ Hell, I will not even notice it then. ~shrugs~ Oh well. With the eventual tax HIKE that will be coming due to the government spending so much, I guess we just might be even sometime.
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It's a reduction of payroll taxes actually taken out...
Yeah, thats what I thought it was.
But the rate of taxes is not going down.
So less reduction actually just means that if you normally get a tax refund at the end of the tax year, you are now getting it spaced out throughout the year. Which is fine by me. I think more people should have less withheld and feel less pleased with large tax refunds. But its not really a tax cut.
Oh, and if you don't get a tax refund (for some strange reason) you will end up paying more next april.
It isn't even that much sometimes. I would net $10.34 extra per week.
You'll only get a tax increase if you are part of the top 5% of wage earners. Everyone else will get a tax cut.
** spoiler omitted **
~grins~ Yes you did! Good for you!