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?