Eric_L
Senior HTF Member
- Joined
- Nov 2, 2002
- Messages
- 2,013
- Real Name
- Eric
Feel free to share your experience being bent ov.. er I mean, taxed this year.
I had the pleasure of seeing my income tax bill increase 300% this year! The inexperienced may think "Hey - that just means your income went up 300% too! W00T!". I once thought that. I found out though that is not correct however. This year I broke through the ceiling income where I lose eligibility for all tax credits. My actual income increased about 40%. (Much of that due to my wife working p/t now that the kids are in school) Still not bad, but hardly worth a 300% increase in tax paid! And some people think that's still not enough!!! Get a rope! (before they get a barrel!)
Maybe if I were getting 300% more government service this year I wouldn't complain so much. But then, I really do appreciate the, um, er, um, hmmm. Just what DID I get for my income tax paid?? Nearly everything I use is funded by taxes other than income tax.
I hear that there are two other times when it really hurts - when you lose deduction eligibility and when your best deductions (children) move out. I look forward to neither. At least one won't happen for another eight years. The other in about two.
So tell me - how hard did Uncle Sam slam you this year?
I had the pleasure of seeing my income tax bill increase 300% this year! The inexperienced may think "Hey - that just means your income went up 300% too! W00T!". I once thought that. I found out though that is not correct however. This year I broke through the ceiling income where I lose eligibility for all tax credits. My actual income increased about 40%. (Much of that due to my wife working p/t now that the kids are in school) Still not bad, but hardly worth a 300% increase in tax paid! And some people think that's still not enough!!! Get a rope! (before they get a barrel!)
Maybe if I were getting 300% more government service this year I wouldn't complain so much. But then, I really do appreciate the, um, er, um, hmmm. Just what DID I get for my income tax paid?? Nearly everything I use is funded by taxes other than income tax.
I hear that there are two other times when it really hurts - when you lose deduction eligibility and when your best deductions (children) move out. I look forward to neither. At least one won't happen for another eight years. The other in about two.
So tell me - how hard did Uncle Sam slam you this year?