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View Full Version : Anyone notice the Federal Tax increase this year?



djones520
03-25-2010, 03:16 PM
This is the time of year that I receive my pay raises. I get the congressional pay raise in January, and then every two years I receive another pay raise in February (my month of enlistment). So I have gone back to review my pay and all that, and noticed a pretty big jump in taxes over the last few months.

I currently claim 3 dependants, so as of December 2009 I was paying $9.85 a month in Fed Taxes. In January 2010, with no change in dependant status and only a $84 a month increase in pay, my Fed Taxes jumped to $34.45. A 300% increase. In Feb they went to $41.07, and in March $51.00.

Now my taxable income is $33,000 a year. I am just inside the second lowest tax bracket at the moment, but I've seen a 500% increase in the taxes that I pay this year. Has anyone else noticed this?

Megaguns91
03-25-2010, 03:18 PM
This is the time of year that I receive my pay raises. I get the congressional pay raise in January, and then every two years I receive another pay raise in February (my month of enlistment). So I have gone back to review my pay and all that, and noticed a pretty big jump in taxes over the last few months.

I currently claim 3 dependants, so as of December 2009 I was paying $9.85 a month in Fed Taxes. In January 2010, with no change in dependant status and only a $84 a month increase in pay, my Fed Taxes jumped to $34.45. A 300% increase. In Feb they went to $41.07, and in March $51.00.

Now my taxable income is $33,000 a year. I am just inside the second lowest tax bracket at the moment, but I've seen a 500% increase in the taxes that I pay this year. Has anyone else noticed this?

Yup. Gotta love it when the big O makes promises he can't keep.

djones520
03-25-2010, 03:20 PM
Go figure... in two years when I get my next pay raise of $100 a month, I'll end up owing the government a whole 10% more of my pay. I'm really starting to see the benefit of a flat tax.

Megaguns91
03-25-2010, 03:23 PM
Go figure... in two years when I get my next pay raise of $100 a month, I'll end up owing the government a whole 10% more of my pay. I'm really starting to see the benefit of a flat tax.

I'm starting to see the benefit of voting conservative. But the DUmmies will never notice a thing if they're who they really pretend to be: anti-capitalists.

Now I'm not saying all liberals are this way, but hopefully these liberals that actually earn their fair keep see why it is that we're conservatives: We're sick of being taxed the sh*t out of.

This subject is a thorn in my a**.

:mad:

noonwitch
03-25-2010, 03:39 PM
I'm not paying any more in taxes.

Megaguns91
03-25-2010, 03:43 PM
I'm not paying any more in taxes.

Do you fall within the same tax bracket? As well, are you getting a larger, smaller or similar tax refund? Do you pay state income tax as well (which I believe happens to be a federal write off)?


It happens that I fall in a higher tax bracket this year than last year (not by much, but happens to be a substantial amount because I do not make a lot of money) and therefore have to pay more in taxes. My expected refund this year is a pittance.

AmPat
03-25-2010, 05:42 PM
I'm not paying any more in taxes.

You will.

I think I saw John Galt leaving town.

Jfor
03-25-2010, 07:06 PM
Go figure... in two years when I get my next pay raise of $100 a month, I'll end up owing the government a whole 10% more of my pay. I'm really starting to see the benefit of a flat tax.

We have had a flat tax before. What we need is the Fairtax.

lacarnut
03-25-2010, 08:13 PM
This is the time of year that I receive my pay raises. I get the congressional pay raise in January, and then every two years I receive another pay raise in February (my month of enlistment). So I have gone back to review my pay and all that, and noticed a pretty big jump in taxes over the last few months.

I currently claim 3 dependants, so as of December 2009 I was paying $9.85 a month in Fed Taxes. In January 2010, with no change in dependant status and only a $84 a month increase in pay, my Fed Taxes jumped to $34.45. A 300% increase. In Feb they went to $41.07, and in March $51.00.

Now my taxable income is $33,000 a year. I am just inside the second lowest tax bracket at the moment, but I've seen a 500% increase in the taxes that I pay this year. Has anyone else noticed this?

Around the first part or middle part of 2009, Obummer announced a reduction in taxes withheld. Note, this was NOT a tax cut but some phony scheme to make people think so. Consequently, many people found out that the taxes withheld were not enough and wound up owing . The purpose was to put more money in your pocket to aid in the recovering economy. Had the dunce-in-office left the payment of taxes alone this would not have happened. Could be that the taxes have reverted back to the pre 2009 era.

If you think too much taxes are being taking out, re-do your withholding form and add an extra exemption or two. Just make sure you are not underestimating your taxes by too large a margin otherwise the IRS will penalize you.

linda22003
03-25-2010, 08:14 PM
Yes, there was an increase this year. We pay in taxes nearly what DJones says he has in salary...

NJCardFan
03-26-2010, 12:25 AM
This is a state thing but for the first time in my working life I had to pay more into my state income tax. Combined state and federal taxes this year, including the $7K refund we got, we paid in nearly $20K in taxes(we made a combined $100K which was due in part to contract payments that were 2 years coming).

djones520
03-26-2010, 06:16 AM
Actually, I just reviewed it with a tax saavy person I work with, and it turns out there was no real increase in my Federal withholdings. In comparison to my pay raise, the increased taxes was only 15% of that raise, which does match the bracket that I am in.

AmPat
03-26-2010, 07:42 AM
This is a state thing but for the first time in my working life I had to pay more into my state income tax. Combined state and federal taxes this year, including the $7K refund we got, we paid in nearly $20K in taxes(we made a combined $100K which was due in part to contract payments that were 2 years coming).

You ain't seen nothin' yet
B-B-B-Baby, you just ain't seen nothin' yet
Here's something that you never gonna forget
B-B-B-Baby, you just ain't seen nothin' yet

noonwitch
03-26-2010, 07:43 AM
Do you fall within the same tax bracket? As well, are you getting a larger, smaller or similar tax refund? Do you pay state income tax as well (which I believe happens to be a federal write off)?


It happens that I fall in a higher tax bracket this year than last year (not by much, but happens to be a substantial amount because I do not make a lot of money) and therefore have to pay more in taxes. My expected refund this year is a pittance.


I had a slightly smaller refund, but there were a couple of reasons for that. One is a mistake my mortgage company made that resulted in me paying a little bit less than previous years in interest payments, so I had a lower deduction for that. The other is that I'm keeping a little more per paycheck. My taxable income is around $43,000.