What to do with the Money from the Tax cuts.

Originally posted by harleyquinn: Magik (or anyone else) do you have a website that has info about the new tax cuts so that I can figure out what my take is?

Harley, I'll let you know once I figure mine out [img]smile.gif[/img] or find someplace with the actual numbers...I have just been basing my numbers off the publicly stated figures. Actually Im kind of interested in where I.D. got his $53 number.

[ 06-03-2003, 10:42 AM: Message edited by: MagiK ]

[Davros]

But you keep overlooking what was said ole boy. A time frame was given, and I quote agin for your edification :

this wonderful tax cut will mean that next year I will save a grand total of approximately $53.00.

Now that is what he said. Typo's and calculation errors are both possible, but you just ignored what was said (per year) to read what you want to read (per month). You went on to slam him about complaining of 53 dollars per month, when he was saying so what - 53 dollars per year.

A simple apology would have been enough - it was all that was required.

[Timber Loftis]

Don't blame MagiK. Mortimer needs new glasses, that's all. And a hearing aid. [img]tongue.gif[/img]

[Night Stalker]

His cane needs a new coat of varnish too.

[ 06-03-2003, 12:55 PM: Message edited by: Night Stalker ]

[Sir Taliesin]

I'll be taking a vacation and possibly buy a new computer. We should be getting back somewhere in the neighborhood of $900 to $1200 dollars; assuming that what I've read is true. I'm still looking for that calculator too Harley!

Originally posted by Timber Loftis: Don't blame MagiK. Mortimer needs new glasses, that's all. And a hearing aid. [img]tongue.gif[/img]

huh?

According to the news this afternoon, the Dems are demanding that non-federal income tax payers (those who don't make enough to actually owe federal income)
be allowed to collect the $1000 per child tax credit for each child. Apparently this will mean that the Dem imposed 350billion limit will need to be breached and will open the door for even larger tax cuts for those who actually pay into the system.

Ok, Davros, if he ment he would receive ONLY $53 in all of the next year due to tax cuts, that means that A. He already doesnt pay taxes anyway, of B. He is in the top 1% and has an incredibly lousey accountant...if either of those should be true then yes I was wrong to tell him he should use that $53 to earn $119k. If A. is true, I hope he takes advantage of the opportunities in this country to move up from the bottom rung since he is obviously a guy with no children (since each child brings $1000 in tax relief per child which is way more than $53 if my math is correct.)

However

YOU

have yet to acknowledge that

YOU

made an assumption as to my motive and swiftness of my posting and were wrong. Ever heard the addage about the word ASS U ME?

And back on target..I am correct about the numbers $53 a month can net you >$100k.

untll they come out with the 2003 tax guide, I'm not sure you can count on anythign except that the tax credit for each child going from $500 to $1000, so the average family of 4 should at least see a $1000 reduction in the amount of taxes they owe....this is completely aside from the benefits derived from the actual rate cuts in both Bush tax cuts (the one from last year and this new one)

[Davros]

Thank you - apology accepted (on his behalf of course).

Since people were asking for calculators and charts, I found
this.
and was able to figure out what I will be saving.