So, taking a look at my check stub...

[diablopath]

It feels like they're taking less taxes out of my check for federal than they used to.

I was told that this is something to do with Obama's breaks and whatnot, but I'm having some trouble finding anything regarding this.

Does anybody know what I'm talking about?
Can you elaborate and provide some literature on the subject? I'm just curious if I'm going crazy or if there's some government action behind this.

[Spectre-7]

You took Al Ook!? God damn it all to hell! He's a human being... That's just sick. Let the poor man go already.
Sorry I didn't have anything useful to add. Just enjoying your typo.

[frederec]

I've actually gotten a couple emails from the payroll department where I work talking about this. As you suspect, this is about the adjustment in how taxes are being done. I don't have any literature talking about it, didn't even save the emails. But I can at least confirm that it's not just happening to you.

[diablopath]

I've actually gotten a couple emails from the payroll department where I work talking about this. As you suspect, this is about the adjustment in how taxes are being done. I don't have any literature talking about it, didn't even save the emails. But I can at least confirm that it's not just happening to you.

My worry is:
They take almost nothing out now, then when I throw in my 1040EZ next year, they're like "Oh, well, you have to pay this much back because they weren't taken from your checks this year."

I can physically go in and have them taking out like $30 a paycheck, if I want, but I'm not going to do that if it isn't necessary.

[alienmastermind]

Diablopath, there was a stimulus bill that was a 'tax relief' bill before the one all the teabaggers clogged their throats about that Obama signed as an emergency gesture. As a part of that, there were (for middle income Americans) tax credits given.

I had the same question because my last paycheck was before the Tax Deadline, and was festively plump. Which is good considering the wife and I are in the process of purchasing a home.

So, no, they're not gonna gitcha next year. They'll get your kids' kids, if we don't get the economy moving, and the country back on a paying basis again.

;)

AM

[ShivaX]

Too lazy to realy hunt, but this might explain it:
http://farm4.static.flickr.com/3108/2856533707_883a90bb1e_o.gif

Find your income level and you should get a reasonable idea.

[Raen]

Wow. How was McCain intending to pay for anything?

[Hexxagonal]

This is the "Making Work Pay" portion of the American Recovery and Reinvestment Act of 2009. http://www.irs.gov/newsroom/article/0,,id=205922,00.html

[AgtFox]

Just moving this here because I'm feeling it may veer more into politics.

[Inspector Fowler]

I voted for Obama for a lot of reasons. However, as with any election, nobody represents your views perfectly. Two areas where I knew I would differ from Obama were firearms ownership and taxes.

I gotta hand it to him so far. He has publicly stated he will not be trying to get anybody to renew the 1994 assault weapons ban, and has made some other good administrative decisions in that area.

As far as taxes go, this looks promising and I am ready to see the difference. I am going to compare my federal tax rate for 2008 to the 2009 and then the 2010 one. What remains to be seen, however, is what will happen when the overall tax code is overhauled (if, indeed, this happens). My wife and I end up with pretty serious deductions from our mortgage, our tithe, and some other much smaller items. We'll see if those remain- however, with an overall lower tax rate I would obviously be happy to accept a correspondingly lower tax return :)

[Iron Past]

Wow. How was McCain intending to pay for anything?

By... collecting taxes? Obama just changed who the bulk of the money came from from. It's a fundamental difference on who you believe will benefit the economy most with the money from tax breaks (spending, providing jobs, investing, paying debts, etc.). It's impossible to tell from that chart which plan would pull in more money, just from whom it's pulled.

Anyway, I thought taxes have always been a flat rate taken on pay-day then the appropriate amount refunded or collected when you file (depending on deductibles)? It it some sort of retroactive stimulus check, instead of a strait refund?

[Johan]

I'm just so glad to keep 3% more of my pay since it went down double that due to funding cutbacks from, ironically, the government (local, state, federal).

If he wanted to help out teachers, he would keep taxing teacher income at the same rate and fund teacher salaries at last year's level, which would be nice, considering I won't make that again until the end of the next school year, or some such nonsense.

I love teaching, but seriously; 4% raises in the "plump" years (woo hoo...living large!), -6% or more in the lean ones. Overall effect? Jack + shit = f***