Stimulus passed - How does it affect us?

[frisco]

Not looking to start another he said/she said political thread. Just curious - I see that we will get a $800 tax cut for married couples. How does that work out?

Does $800 get divided up into both our paychecks evenly over a year?
Does $800 get divided up by who makes more, thus pays more taxes?
Do we just get a check for $800?
Is there any clause for dependants on this one?

 

[Chicago526]

I'm not sure how it is divided up (I've heard $13 per pay period but that could have been an average), but it is not a lump sum payment and dependents are not factored in. If you make less than $150,000 gross (as a married couple) or $75,000 as a single you'll get the tax cut.

 

[wvjules]

Not looking to start another he said/she said political thread. Just curious - I see that we will get a $800 tax cut for married couples. How does that work out?

Does $800 get divided up into both our paychecks evenly over a year?
Does $800 get divided up by who makes more, thus pays more taxes?
Do we just get a check for $800?
Is there any clause for dependants on this one?

For the millionth time....the money is not a check you will get. It is a reduction in taxes paid through your paycheck throughout the year.

 

[frisco]

I'm not sure how it is divided up (I've heard $13 per pay period but that could have been an average)

Stinks for people who only get paid once a month.

 

[frisco]

For the millionth time....the money is not a check you will get. It is a reduction in taxes paid through your paycheck throughout the year.

Wow, someone forgot to take their happy pill today.

Could someone else who knows how it works for married couples chime in? I'm just kind of confused how they plan on splitting up $800 between 2 people with different incomes.

Thanks.

 

[PeterPan09]

Well, if you read here the stimulus is the end of America as we know it.

My understanding is the same-it's coming in tiny amounts in your paycheck instead of one lump sum.

 

[wvjules]

Someone forgot to take their happy pills today.

Could someone else who knows how it works for married couples? I'm just kind of confused how they plan on splitting up $800 between 2 people with different incomes.

Thanks.

Umm, logically I would think that each of you getting the $400 in tax reduction would make the $800 that couples are supposed to get.

And the $13 per pay check is estimated based on bi-weekly pay periods. If someone gets paid on a different cycle I'm sure the breakdown will vary slightly but still average out to about $13 bi-weekly.

Oh and I've read the exact same question and answer atleast a dozen times on the DIS alone since this "stimulus" package has been introduced.

 

[frisco]

Oh and I've read the exact same question and answer atleast a dozen times on the DIS alone since this "stimulus" package has been introduced.

From me?

If no, not quite sure why you'd be Christian Baleing on me. If it's bothering you that much, then you should stop replying.

 

[wvjules]

From me?

If no, not quite sure why you'd be taking it out on me. If it's bothering you, then stop replying.

No, not from you. However it has been all over the dis for weeks now.

Oh and its not really bothering me.

 

[frisco]

Oh and its not really bothering me.

Oh. OK.

 

[Jennasis]

Odd..I haven't seen this question posed before. probably because this is the first time I've seen it posed as a thread unto itself. Maybe it's been asked ad nauseum in the other "It's Bad/It's Good" threads but I try to stay away from those.

Thanks for answering the question everyone.

 

[glitterkittyy]

It's $400 per taxpayer so that would mean $800 per couple. The program is for 2009 and 2010. The money comes in the form of more take home pay in your pocket, but don't get all excited. It's only about $13 every two weeks per taxpayer. The tax tables that are used to calculate your tax withholdings on your paycheck is what is being adjusted.

 

[onelilspark]

Umm, logically I would think that each of you getting the $400 in tax reduction would make the $800 that couples are supposed to get.

And the $13 per pay check is estimated based on bi-weekly pay periods. If someone gets paid on a different cycle I'm sure the breakdown will vary slightly but still average out to about $13 bi-weekly.

Oh and I've read the exact same question and answer atleast a dozen times on the DIS alone since this "stimulus" package has been introduced.

It was my understanding it was $13/week, not $13/bi-weekly. Then next year it switched to $8. Which is probably going to cause problems for people who live paycheck to paycheck and who that $5 really does make a difference.

Honestly, I'd rather take a $400 check Oh this is all too complicated. I give up.

 

[glitterkittyy]

It was my understanding it was $13/week, not $13/bi-weekly. Then next year it switched to $8. Which is probably going to cause problems for people who live paycheck to paycheck and who that $5 really does make a difference.

Honestly, I'd rather take a $400 check Oh this is all too complicated. I give up.

If you divide $400 by 26 pay periods, it comes to $15 per pay. If you divide it by 52 weeks (weekly), it only comes to $7.69. The $13/pay period is just an estimate anyway because it will vary by taxpayer, but at least it gives you an idea.

 

[wvjules]

It was my understanding it was $13/week, not $13/bi-weekly. Then next year it switched to $8. Which is probably going to cause problems for people who live paycheck to paycheck and who that $5 really does make a difference.

Honestly, I'd rather take a $400 check Oh this is all too complicated. I give up.

I'm going to laugh if I'm wrong especially since I said how many times this has been asked and answered. (Oh and yes its been in the various good/bad threads and I think there is another one about just this posted today.)

$13 X 52 weeks is $676
$13 X 28 bi weekly pay checks = $364 (May and Oct have 3 pay checks.)

Neither one is $400 but I'm closer.

 

[lillygator]

From me?

If no, not quite sure why you'd be Christian Baleing on me. If it's bothering you that much, then you should stop replying.

that's funny!

 

[Jennasis]

I'm going to laugh if I'm wrong especially since I said how many times this has been asked and answered. (Oh and yes its been in the various good/bad threads and I think there is another one about just this posted today.)

$13 X 52 weeks is $676
$13 X 28 bi weekly pay checks = $364 (May and Oct have 3 pay checks.)

Neither one is $400 but I'm closer.

Oh and thanks for that. I'm terrible at math.

 

[wvjules]

Oh and thanks for that. I'm terrible at math.

I don't think being good or bad at math has anything to do with this stimulus. Its as confusing as all get out.

 

[Duckfan-in-Chicago]

I think your share of the stimulus package is related to your zodiac sign and BMI.

 

[onelilspark]

I'm going to laugh if I'm wrong especially since I said how many times this has been asked and answered. (Oh and yes its been in the various good/bad threads and I think there is another one about just this posted today.)

$13 X 52 weeks is $676
$13 X 28 bi weekly pay checks = $364 (May and Oct have 3 pay checks.)

Neither one is $400 but I'm closer.

I thought this started beginning in June

FTR: I'm not disagreeing with you, just trying to get my facts straight.

I think your share of the stimulus package is related to your zodiac sign and BMI.

Hah. Thanks for the chuckle!