Bush tax cut: Did your taxes go down?

Originally posted by caitycaity
as i said, not really.

should i quote bush the elder and say "read my lips" not really? :p

Nope, I can read your lips, I just don't think they know what they're saying... ;)

I think if you actually took the time to look up the 2000 tax tables and compared your taxes now to what they would have been then, you would see that the tax cuts have saved you hundreds of dollars per year.
 
Married, no children, retired. We saved quite a bit.
 
Married. no kids. own a house. Didn't really make out any better tax-wise on my federal taxes - we did a comparison and saved $93 because of the tax cut.
I had to actually pay taxes (state) for the first time in my life.
 
I am a single mom with 2 kids, so basically, Uncle Sam is nice at the end of the year when Income Tax comes around. I don't pay too much attention to my paycheck really, because the more I pay in NOW, the more I get back later :tongue:
 

Originally posted by Crankyshank
Married. no kids. own a house. Didn't really make out any better tax-wise on my federal taxes - we did a comparison and saved $93 because of the tax cut.
I had to actually pay taxes (state) for the first time in my life.

I'm really confused with your numbers because the addition of the 10% bracket was a $300/person $600/couple tax cut that everyone that made more than $6000/$12000 got automatically.
Add in the expansion of the 10% bracket last year, and that's $400 single/$800 couple for $7000/$14000.
 
Married with two kids...make close to 70,000 a year and get an extra $16 a month. Yeah, the tax cut has really helped us give back to the economy.
 
I think all of you folks that say you didn't get any benefit from the tax cut should get new tax preparers.

Married with two kids

What about the increase in the child credit ($400/child)? That's $800 right there. Quite a bit more than $16/month. Add in the $400 (assuming one income rather than two) for the 10% bracket, that's $1200. If two incomes, make it $1600.

And you only saved $16/month?
 
Originally posted by AirForceRocks
I think all of you folks that say you didn't get any benefit from the tax cut should get new tax preparers.

I think the people who say they didn't realize a benefit either have not taken the time to really do a comparison (again... you can't do this by looking at your paycheck withholding) or they are so anti-Bush that they don't want to believe they actually benefited. Sad.

It saved me over $3k.

For those that wouldn't mind the cuts being rescinded, by all means give it back. Just don't make the rest of us just because you want to pump more money into social programs that most of us will never benefit from.
 
Originally posted by Chicago526
Just curious. One of the things Bush is touting in his campaign is that he (and Congress) lowered taxes for all American's who pay them.

My taxes went down about $14 per month. Let me tell you what a blessing and a relief THAT was! My quality of life has just gone through the roof! :rolleyes: However, I make less than $40,000 and am single with no kids. So maybe people who are married with kids saw more tax relief. Before I go running around screaming at the t.v. "what tax relief?" everytime I hear him say it, I thought I'd try to get more info on the subject.

So, did you see your Federal income tax go down, go up, or stay the same?
I am responding to the OP. Mine didn't go down much. The big relief was for the people who were making much much more money than I ever will. :rolleyes:
 
The confusion appears to come from the fact that some are just looking at their monthly pay stubs and not at the tax form they fill out every year. Some folks will never take the time to really figure it out, much easier to complain then to actually understand how the system works. I do agree that some should look at getting new tax preparers or if they've been doing it on their own should hire someone to do it for them.

In the years since the tax cuts both our children have gone over the magic age of 17 so we lost the child credit we had been getting, still we did see a decrease in the yearly tax due.
 
The confusion appears to come from the fact that some are just looking at their monthly pay stubs and not at the tax form they fill out every year. Some folks will never take the time to really figure it out, much easier to complain then to actually understand how the system works.

ITA.
 
Thank you for the reduction of marriage penalty tax. Definately saw a more equitable tax bill since 2000.
We got married in 2000, and when we saw our tax returns for that year (prior to reduction) my husband wanted to get a divorce so he could file as a single again!!

So, I guess you can say Pres. Bush saved our marriage!
 
Well, for us, things have changed significantly since the cuts. We bought house, had a baby, sold the house, bought another one, and had another baby, and I stopped working, cutting our income in half. However, all things considered, we definately saw a difference in our taxes, but it's difficult to quantify since things have changed so much for us personally.

I think what some peple fail to realize is that these tax cuts only mean something significant to the middle class. The uber rich..well, what difference does it really make? (Not that it's fair to take ridiculous percentages of their money in any case) and the lower income people hardly pay any income tax as it is, so how could they really see a huge difference in their tax bills?

It's us schlops in the middle that get reamed hard by the ridiculously complex "progressive" tax code.

I say, flat tax and/or a consumption tax. No deductions, just a flat rate, the same rate for everyone. Period.

Then, no one could complain about the loop holes that those evil rich people use to get out of paying taxes. With the addition of a consumption tax, the government would still be able to "get more" out of those super mean, rich people (like Whooopi Goldberg and Barbara Streisand) because they buy more with all their ill gotten dollars. <grin>
 
My accountant said ours did. I don't know how much, but every little bit is good for us!
 
Yes, our taxes went down; that child tax credit helped us a lot. We are not in a high wage bracket (under $75,000/year) and I do not work outside the home. We have two kids. I can't help but repeat myself that Bush's tax cut really helped our family.
 
I can't believe people are saying they don't care that their taxes were lowered. By all means, give me your money then. Look at the big picture and you will see how much money this puts in the average American's pocket.
 
I would rather see any reduction in taxes, no matter how small, then to have more of my hard earned dollars spent recklessly by the government. For those who are complaining that your tax reduction was not a significant amount, please don't forget to consider in how much MORE your taxes would be if a Democrat was in office...
 
no we saw no change really
were on a line were we make good money but no enough so always endup paying or getting a small refund even with the max taken out
hs cuts have no helped us
 
Yep our taxes went down, a nice amount too, and that is just with the standard deduction. We are also lucky DH's ex allows us to claim one of the kids, so that helped even more.

You have to go by more than your paycheck people. :rolleyes:

And I would like to say DH and I both work for governmental agenices and we are by no means rich, we are very much in the middle class. And personally even if we only got $14 back, that is $14 I can do whatever I want with instead of supporting things and people I don't want to.
 













Receive up to $1,000 in Onboard Credit and a Gift Basket!
That’s right — when you book your Disney Cruise with Dreams Unlimited Travel, you’ll receive incredible shipboard credits to spend during your vacation!
CLICK HERE














DIS Facebook DIS youtube DIS Instagram DIS Pinterest DIS Tiktok DIS Twitter

Back
Top