Figure out if the tax cut is going to affect me


sorabji.com: Why I oughta...: Figure out if the tax cut is going to affect me
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By spunky on Wednesday, June 18, 2003 - 02:15 pm:

    Here is a handy dandy website that has a Tax Calculator.
    You can use this now and in the future to figure out FICA and State and Federal Income Tax amounts.

    Eri, we are going to get a whole $34.46 more a month!

    Yip Yip Yahoo!


By eri on Wednesday, June 18, 2003 - 03:00 pm:

    Oh good, now I can afford brand name pads and tampons!


By spunky on Wednesday, June 18, 2003 - 03:02 pm:

    nice


By Nate on Wednesday, June 18, 2003 - 04:05 pm:

    hm. it won't accept $0 in the gross pay field.

    i guess i won't be getting any more of a handout from the government.

    fucking pigs. i demand better wealth redistribution!


By Spider on Wednesday, June 18, 2003 - 04:11 pm:

    I'll get an extra $2.50 a month.


By spunky on Wednesday, June 18, 2003 - 04:14 pm:

    If you had kids you would at least get a $400 check per child in August.
    They passed a bill that pays 3.5 billion to parents who do not make enough to pay taxes to still receive a tax rebate of $400 per child.
    Still trying to understand how you can get a $400 tax credit when you don't pay taxes, but hey, what the hell


By semillama on Wednesday, June 18, 2003 - 06:56 pm:

    Well, they do pay withholding, so maybe that's it. Think of it as even more of break for those who most need it. If we can afford to give massive tax cuts to the wealthiest, then we can afford them for the poorest.

    BTW, I will make an extra $10 a month. whoopee. I should take that money and donate it to some crazy liberal cause.


By spunky on Wednesday, June 18, 2003 - 07:21 pm:

    OK.
    You make $5.25 an hour and work 40 hours a week.
    Your W4 is set up for single, 0 depenedents, but when you do your taxes, you file married with 2 kids. Here is your pay breakdown:
    Before Tax Cut:
    Weekly Gross Pay
    $210.00
    Federal Withholding
    $0.00
    Social Security
    $13.02
    Medicare
    $3.05
    Missouri
    $3.00
    Net Pay
    $190.93

    After Tax Cut:
    Weekly Gross Pay
    $210.00
    Federal Withholding
    $0.00
    Social Security
    $13.02
    Medicare
    $3.05
    Missouri
    $3.00
    Net Pay
    $190.93

    But you will still get a tax rebate check in August for $800.00


By Platypus on Wednesday, June 18, 2003 - 10:24 pm:

    SWEET, I get 80 more cents a month!!!!!!


    Whooooo DOGGIE! I'm gonna go out and buy me one of them CARS!


By Nate on Wednesday, June 18, 2003 - 10:35 pm:

    goddamnit. it's not fair that you guys are getting all the money when i'm the one who really needs it and i don't get fucking jack squat.


By spunky on Thursday, June 19, 2003 - 08:52 am:

    hows the job hunt going?


By semillama on Thursday, June 19, 2003 - 10:57 am:

    Wait a minute - When I worked for minimum wage, there was always federal withholding, you just got it all back as a refund. Are you saying that nowadays people who make minimum wage are getting no withholding?


By spunky on Thursday, June 19, 2003 - 11:34 am:

    No, if you claim single, with 0 dependents, you do have federal withholding taken from your paycheck, and get it back at the end of the year (thus, you pay no taxes).
    But if you claim yourself as a dependent, then you will not get it taken out, and not get a refund at the end of the year. It all depends on how you fill out your w4.


By wisper on Thursday, June 19, 2003 - 07:16 pm:

    oh, my god.
    claim myself as a dependant, that's brilliant!


By semillama on Friday, May 14, 2004 - 01:43 pm:

    For kicks, I took an old pay stub from 2001 and my last paystub, and figured out what percentage of each was taken out for taxes.

    2001: Fed - 12.8% State - 3.3%
    2004: Fed - 13% State - 3.4%

    Yup, those tax cuts and all are really helping out.


By TBone on Friday, May 14, 2004 - 04:41 pm:

    My taxes went down slightly. It comes out to $15 more a month. Dang! Does that improve my quality of living or what?


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