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Thanks Obama! I will be getting about $120 extra per month thanks to this....Anyone else get this info from their employer?

AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009

As a result of new federal tax changes, Making Work Pay Credit, included in the American Recovery and Reinvestment Act of 2009, you may notice a change in your net pay starting with this pay cycle. This credit will allow eligible workers more take home pay for 2009 and 2010 tax years. For more information on the tax changes, please reference the IRS website:

http://www.irs.gov/newsroom/article/0,,id=204521,00.html

 
Anonymous

Asked by Anonymous at 4:42 PM on Mar. 5, 2009 in Politics & Current Events

This question is closed.
Answers (31)
  • Well, let's see. My little family of 4 makes less than $20K a year and we always see withholdings from the pay stubs going to federal income tax. We always get what we paid back. And those in a family situation like mine are really going to appreciate the extra $64-$120 a month (though we usually only have about $54 taken out in month). That is $64 that can help to pay down my student loan even faster. (And yes, I have double checked the W-4's and we are counting all of our children plus ourselves, so we have done our jobs properly - before someone says that we haven't filled out our paperwork properly). While $64 may not seem like a lot to a lot of people, it is a fortune to people like us!
    Anonymous

    Answer by Anonymous at 5:20 PM on Mar. 5, 2009

  • Well yes, your check will be bigger, but it is likely your 2010 tax liability will be higher. I plan to adjust my witholdings downward from 3 to 2 so I don't end up owing money to Uncle Sam come April 15, 2010!
    Anonymous

    Answer by Anonymous at 4:44 PM on Mar. 5, 2009

  • ditto your rcheck is bigger but now people that didnt owe before will end up oweing most likely ya thanks obama :(
    Anonymous

    Answer by Anonymous at 4:46 PM on Mar. 5, 2009

  • Yes, but there is a catch to it, you'll pay more taxes in the end so your not really seeing that amount of money, your really only seeing $64 from it. Because $64 a month is awsome! LOL Give me a break, it's crap and we all know it, well except for the few people who don't read the fine print! I voted for Obama but dear God he's screwing up right now! And I put anonymous because I dont need any crap from people.
    Anonymous

    Answer by Anonymous at 4:48 PM on Mar. 5, 2009

  • You people are priceless.... he does a very REPUBLICAN thing by adjusting the tax code to put money back into the working people's pockets....and you just can't give him credit for anything.

    Sour grapes.... you just want to be MISERABLE, NEGATIVE and UNHAPPY!



    Anonymous

    Answer by Anonymous at 4:52 PM on Mar. 5, 2009

  • Unless federal taxes are actually being withheld from your paycheck, you won't see squat. See, if you earn below a certain amount, no taxes are withhled, therefore no increase.
    Anonymous

    Answer by Anonymous at 4:52 PM on Mar. 5, 2009

  • Fortunately I do not earn below that and I do pay taxes and I am getting a little back to help out in this tight economy.... and if you don't want your $64 a month, then donate it to a cause that could use it. For me $120 will help with grocerys, gas or any number of things that will benefit my family.

    You were all so happy to get your $600 dollars from Bush that did nothing, but a steady increase in money in your pocket this year is apparently something to spit at.
    Anonymous

    Answer by Anonymous at 4:56 PM on Mar. 5, 2009

  • Wow, $120 extra... AND~ it will cost each taxpayer $10,000 to pay China back... yay..... Thanks Mr President.
    grlygrlz2

    Answer by grlygrlz2 at 5:06 PM on Mar. 5, 2009

  • nothing but anons it's an invasion

    ROFL~I call it COWARD FEST '09 :o) Wow, they have an opinion... But they are afraid to show themselves to speak it... rock on...

    spring break teenage trolls.
    I keep forgetting the teenyboppers are home this week!
    akinbottom2

    Answer by akinbottom2 at 5:16 PM on Mar. 5, 2009

  • We have removed at least one answer from this question. Moms are looking for responses from other members that address the question they have asked. Please don't post judgmental or rude answers. They're not appreciated and will be removed by the CafeMom Team.

    > The CafeMom Admin Team
    CafeMom Admin

    Answer by CafeMom Admin at 5:18 PM on Mar. 5, 2009

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