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Obama tax credits

Posted: Nov 17, 2009

I have been out of the country for a bit for my daughter's wedding so have lost all touch with US news and events. Need to get caught up once again. I have lost all touch with what is going on in the health care debate (can someone please share what happened with the House vote on their bill?), as well as everything else, but will admit I have had some change of heart during my trip due to many people we met from the UK, Canada and Nova Scotia including a couple of physicians. While they did confirm some fears that I have regarding proposed reforms in the US, they also did put some others to rest for me. Almost without exception, though, they did not understand why there is a battle raging on here, why we do not have universal coverage, and most seemed at least satisfied it not actually happy with the systems in their own countries, which I found interesting as persons I know living in both the UK and Canada have previously expressed significant displeasure and also because I find it interesting that they seem so invested in what is happening with our health care at all. One physician, however, did confirm significantly longer wait times, sometimes totally unreasonable, for procedures if they were non-emergent (as in not immediately life threatening) as well as lower reimbursement rates for procedures and higher tax issues but extreme pleasure in the time the system afforded him to spend with each patient, saying that he feels their care is much more personal, and we had some very interesting discussions about reimbursement, provider compensation and malpractice, which has me reconsidering some, not all, but some of my prior attitudes.

In our local paper this morning, this caught my eye, and I am wondering if anyone has information to share about this.

Millions will repay Obama tax credits. Those who hold two jobs or married couples where both work and earn more than $13,000, will be paying back that small boost to paychecks that started back in April. So while some people got an extra couple bucks every payday they will now owe an $400 to $800 in taxes come April 15th. Also, a large percentage of social security recipients will be paying back. Since the "tax credit" will continue through 2010, workers are being advised to adjust their withholding for the next year. Personally I'd rather see $13 less per payday than owe $400 to $800 all at one time next April. Was there more information out there about this in the past two weeks while I was gone that anyone can share with me?

;

Knew that when it started - Old part-timer

[ In Reply To ..]
I had heard that back when the "tax credit" started - it wasn't going to change the total amount of tax you needed to pay in, it just tweaked the tables so that you kept more of your paycheck each week. They tried to say it would be fine, since a lot of people got refunds in prior years and this year, they just won't get those refunds.

But it was, amazingly, just swept under the rug by the news media and people were just thrilled that Obama was letting them keep more of their money. It frightens me that we, as Americans, are really that stupid.

Yes, so many Americans "are really that stupid". - Scary, because feels like majority are.nm

[ In Reply To ..]
nm

And the smart ones are attacked and called teabaggers - By the idiots! NM

[ In Reply To ..]
n/m

yep.. BTW, I have been to a tea party.. All I saw were regular - Americans, peaceful, but concerned.nm

[ In Reply To ..]
nm

Not to mention, the teabaggers were patriots! - Really not an insult

[ In Reply To ..]
I can think of worse things to be compared to than those who participated in the Boston Tea Party. They were our PATRIOTS, people! We should be proud of what the Obamanites consider a slur.

which ones were peaceful - StanleyAnn

[ In Reply To ..]
The ones with the Hitler signs? The ones making light of Kennedy's death? The ones that were packin'?

Yeah, right. - Old part-timer

[ In Reply To ..]
Oh sure, all of them were carrying Hitler signs, or joking about Kennedy's death. (Sarcasm intended.)

I don't really care what signs they carry, peaceful means they were peaceful. No disturbances, no violence. Peaceful. Trying looking it up in a dictionary.

doesnt matter - StanleyAnn

[ In Reply To ..]
if they were not ALL carrying those signs. They tolerated them in their midst. Teabaggers are all of one mind (swarm-mind) led by their noses by a couple of fanatics whose only purpose is to rile up the yokies.

Signs do NOT equal violence! DUH. - Old part-timer

[ In Reply To ..]
Again, we're back to the definition of peaceful. Since you don't understand the word and apparently have no dictionary, here it is: Peaceful (adjective). Not quarrelsome. Free from disturbance or disorder.

We, as Americans, have the right to assemble peacefully and voice our opinions. One person's opinion (or sign) does not speak for everyone else in the group, but even that one person has the right to their opinion, expressed in an orderly fashion.

Enough with the teabagger slur. Try to think independently (if you can) and come up with something original.

Suffering a little guilt by association I see. - Well now

[ In Reply To ..]
how does that feel?

Guilt? Hardly. Try pride. - Old part-timer

[ In Reply To ..]
I actually have never witnessed the signs you describe. But do I feel guilt to stand up for what I feel is right? Hardly. I feel like an American.

How about you? How do you feel with your bullying and name calling?

That went right over your head - obviously.

[ In Reply To ..]
Nevermind. :-)

There you go. I think you're the one feeling guilty - Old part-timer

[ In Reply To ..]
Either that, or back in the days of the civil rights demonstrations, you would have been sitting on the sidelines calling them names. It's pretty clear where you stand.

Okay - You really did not get

[ In Reply To ..]
it at all. You have associated yourself with "teabaggers" as they call themselves made apparent by your defense of them. Some of them have been violent, nonpeaceful, etc. (whatever you prefer to call it); therefore, you may be accused by others of being guilty of violence yourself. This is called guilt by association; something which President Obama experiences. If you don't get it now, you never will, and I seriously doubt you will.

Note: I did not make the posts before the guilt by association reference.

No, we don't get it!! "They" do not call themselves "teabaggers," the hatef - call them that...nm

[ In Reply To ..]
.

"hateful libs call them that!!" - nm

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.

I sees youse is one of - stanleyann

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them there folks that thinks very concretely, very literally. Sorry. The discussion I was having with you is above your intellect. Keep on believin that old black and white!

Youse the bonehead who don't know what peaceful means. - Your intellect???? Snort.

[ In Reply To ..]
Your intellect IS the joke.

The ones the slanted media DID NOT SHOW - Backwards typist

[ In Reply To ..]
Most stations showed the ones you stated in your post for "sensationalism" so they could name call and try to prove they were all nut cases.

News isn't news unless it is "sensational". Peaceful protestors don't get covered because it's not news.

Yeah, really seems like a scam.. "Keep more money now, - pay it back later, though"..Thanks O !

[ In Reply To ..]
x

Some that I can remember - NJ

[ In Reply To ..]
Off the top of my head...I think it's $400 per individual and $800 couple extra which has been reflected in the revision of the tax tables so people have been seeing that in take-home pay for months.

For taxes in 2009, the earned income credit cap will go up. Deductions for first time home buyers, higher education, home renovations that save energy. I'm sure there's a list at the white house website.

Welcome back, cj.

NJ

Yep, her is the link for anyone interested, along with another great one for ALL. - Colleen

[ In Reply To ..]
http://www.recovery.gov/Pages/home.aspx

And all kinds of articles from the White House website about tax cuts, etc.

Oops, forgot to actually add the second link! - Colleen

[ In Reply To ..]
http://www.whitehouse.gov/search/site/tax%20cuts

just one small problem with the so called "credits" - just me

[ In Reply To ..]
The 400/800 is going to come all at once. People not only are going to have to pay higher taxes, now they have to reimburse the 400/800 in addition to that.

Deduction for first time home buyers does not affect all americans. You know not all of us are buying a house out here, and with people still losing their jobs nobody is buying a house that I know of.

Not everyone can take advantage of education credit.

Or home renovations.

None of these will help most Americans.

Nice try though.

They seem to miss that point - Old part-timer

[ In Reply To ..]
To get these tax credits, we have to SPEND more money than what they're worth! So the vast majority of us are NOT going to see them. But we all will take a hit on April 15.

Explain please - NJ

[ In Reply To ..]
Sorry, I don't follow you on the 400/800 coming all at once. Could you explain what you mean?

NJ

Duh, you have to pay it back all at once to the IRS. - nm

[ In Reply To ..]
..

Did some looking, found out things - NJ

[ In Reply To ..]
The 400/800 credit is for real. If you have 2 jobs and saw the tax table slide down in each job (800/1600 total) then you will owe 400/800.

I guess it pays to know what your deductions are about. If you didn't notice the difference and didn't understand the tax break, you may be part of the estimated 10% who will owe.

As to the rest of the tax breaks, they are true and for middle America. Sorry if they aren't applicable to you this year. You still got the 400/800.

NJ

Just a hare wrong on that - well maybe not wrong... - just distorted

[ In Reply To ..]
Not if you have 2 jobs - if you make more than $13,000 you will have to pay back the 400/800. So here we have it the government gives you a measly little $13.00 each pay (oooh), they DON'T even have the decency to tell you not to spend it because you will have to pay it back, then at the end of the year tells you, just a few short months before it's due... "Hey guess what slaves? You are going to have to pay us 400/800 extra (in addition to the higher taxes you will have to pay) by tax day. And if you don't?...ha ha ha, we'll charge you interest. Oh yeah, Merry Christmas". Don't know about you, maybe you got that kind of money lying around, but people are barely making ends meet (me and all of my family and friends), don't have that kind of money lying around. And I wouldn't be so unkind to them when they say to me "we're barely making it where am I going to come up with that king of money" say to them "hey, you should be grateful, you got an extra $10 or so dollars each week". If the gvt told us we would have to pay it back I would have thrown it into a savings account so I would have had it come tax day.

This is not as simple as knowing what your deductions are (which not all of us have deductions because we don't all own our own home). This is a simple fact of the government once again screwing the American people and deceiving them. And guess what....people like tax cheat Geithner, Pelosi, all the other 270 plus millionaires in congress....bet they won't be having to pay this back. I'd even go as far as saying they probably don't even pay any taxes (just one of their perks).

A (8K) tax credit to buy your first home, education, or home renovations does not help most Americans. People are losing their jobs left and right. Nobody has any money to buy a new home (whose going to lend you money to buy a home when you don't have a job), and nobody I know of across America is renovating their homes and getting credit for it or for education benefits. So those are bogus claims. Not to mention you have to spend more money than those so called credits are worse.

And your last statement...not even cute about me getting 400/800 - You don't know me or my situation. I most certainly did not get any money. My pay has not gone up. And for the people who did get that measly little $13. Nowhere near having a gigantic 400/800 bill in addition to higher taxes to pay the government.

Cap isn't 13k - NJ

[ In Reply To ..]
The credit gets phased out between 75-100k for individuals and 150-200k for those filing jointly.

If you don't get breaks for buying a home, higher education, or making your home energy efficient, oh well. Those are good incentives and those breaks will be appreciated by the middle class who is doing those things. No kids? I guess you won't appreciate the tax break there either. Those are good things, though, even if you personally don't benefit.

Unless you make over 75k, though, you will pay a lower tax rate this year.

Do you have any idea how much it cost Dubya to send out those little checks? Mucho. I'd rather have the money in my pocket as I make it. Letting the government use it for awhile then send it back at great expense is kinda silly.

NJ

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