Tax Calculator

iVillage Member
Registered: 03-10-2010
Tax Calculator
20
Fri, 09-03-2010 - 12:49am

Calculate your family's federal income tax liability under the likely scenarios related to the expiring Bush tax cuts and Obama's plan:

http://www.ctj.org/federalincometaxcalculator.php

~OPAL~

~OPAL~   onoz_omg2.gif OMG ONOZ image by KILLER_BOB11694

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iVillage Member
Registered: 08-14-2010
In reply to: mombittsey
Fri, 09-03-2010 - 3:59pm

This calculator would be great if it also told people how much the price of goods would go up to cover the added tax burden companies will have to pay factoring in the additional loss of jobs from corporate flight from those taxes.


iVillage Member
Registered: 08-14-2010
In reply to: mombittsey
Fri, 09-03-2010 - 3:54pm

"There are at least 5 or 6 Democratic Senators and probably 40-50 Democratic Congresspeople who would barely be considered to the left of the spectrum. "


Being 1 click right of Nader doesn't make one conservative no matter how much CPUSA wants people to think that.

iVillage Member
Registered: 10-28-2009
In reply to: mombittsey
Fri, 09-03-2010 - 12:30pm
LOL! I guess that would be people like me. According to the link Opal just posted, I would pay $2144 more if the Bush tax cuts are allowed to expire.
iVillage Member
Registered: 10-28-2009
In reply to: mombittsey
Fri, 09-03-2010 - 12:24pm

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I don't remember that...I do remember that they were hoping that things would start to show a turnaround, but certainly not be all better.

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I knew that wasn't going to happen because our unemployment was higher than that at that time and we don't have any diversity with regard to types of businesses.

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Costs were skyrocketing before anything was passed, so not sure how you can blame Obama for that.

iVillage Member
Registered: 01-04-2002
In reply to: mombittsey
Fri, 09-03-2010 - 12:17pm

"See, the thing is - yes, my taxes would supposedly go down in either scenario. But who's going to pay for the enormous debt we're accruing with the (imho) out of control spending going on"


iVillage Member
Registered: 03-10-2010
In reply to: mombittsey
Fri, 09-03-2010 - 10:22am

Here is a more complete calculator. It takes longer to complete but comes up with the same numbers. Well, actually, the scenario with all tax cuts expiring shows DH & I owing $9 more than with the other calculator.

http://www.mytaxburden.org/

Now that there are two calculators out there with nearly the same numbers, I think that maybe the same assumptions in the rates/percentages are applied.

~OPAL~

~OPAL~   onoz_omg2.gif OMG ONOZ image by KILLER_BOB11694

iVillage Member
Registered: 07-24-2009
In reply to: mombittsey
Fri, 09-03-2010 - 10:14am
I see. Are you saying that assuming that the Bush tax cuts will continue for all but the highest income bracket will get you different results on your CPA's site than the site that was posted in the original article? You've asked people not to trust the results of the posted article (forgive me if I've misinterpreted your position), so I'm trying to figure out what's different about the calculator you've used (or, at least, what assumptions in the article you think are somehow not correct).
iVillage Member
Registered: 03-10-2010
In reply to: mombittsey
Fri, 09-03-2010 - 10:10am
I'm thinking that you're thinking of Mary Landrieu, Evan Bayh, Claire McCaskill, Diane Feinstein, and Max Baucus in that list of conservative Democrats in the Senate.

~OPAL~

~OPAL~   onoz_omg2.gif OMG ONOZ image by KILLER_BOB11694

iVillage Member
Registered: 07-24-2009
In reply to: mombittsey
Fri, 09-03-2010 - 10:05am
I agree with you completely. There are at least 5 or 6 Democratic Senators and probably 40-50 Democratic Congresspeople who would barely be considered to the left of the spectrum. So, while it may be fun for some on the right to tease the left about not getting things done despite "controlling" the government, the reality is very different. When a huge number of people on your "side" are not really on the side of anything but what will get them reelected, it's not a surprise (to people paying attention) that truly big things can't get done. It's why we get watered-down healthcare, economic, and stimulus plans. Still, I'd take watered-down, but slightly progressive, actions over nothing any day. To me, it's still beats the alternative (ask Blanche Lincoln how well playing to the center-right has gone for her - she'll have plenty of time to talk to you in a couple of months when she's out of a job :)).
iVillage Member
Registered: 08-16-2005
In reply to: mombittsey
Fri, 09-03-2010 - 10:00am
I used the tax calculator for the private accountant firm we use.


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