How Will The New Tax Laws Effect U?

NY_Yankees_Fan · Jun 14, 2003

If you want to know what your 2003 tax bill will be visit this web site. web page

Click on Tax Outlook Calculator

If you put in your $$ info it will tell you what your tax bill for 2003 will be. You will need your 2002 tax return to get the info for the input. If you click select all and copy you can paste it into a word doc and print a copy.

Good luck /forums/images/graemlins/tongue.gif

TerryinMD · Jun 14, 2003

It's very simple.

The gubmint is gonna give me back some of my hard earned money - $800 in the next few months plus the tax break on earned income. As long as the gubmint doesn't have it, I figure a way to simulate the economy. /forums/images/graemlins/cool.gif

Terry

frank_f15 · Jun 14, 2003

TERRY: you better refigure it! The way i see it is the fed, gov. gives u back some of your $$$ but then they cut the amt. of $$$ to your state, then the state cuts the amt. they give your city, town or county, which then has a shortfall, so they raise your taxes to make it up, then a few years down the road the fed.gov, says WE ARE SHORT OF MONEY SO THEY RASIE your fed,tax get the idea? /forums/images/graemlins/grin.gif

TOMLESCOEQUIP · Jun 14, 2003

We pay our fair share of taxes, but I'd still rather live here than Iraq...................or France for that matter...........Tom

Boone · Jun 15, 2003

I would like to see this country striving for excellence, this is a great place to live but can it not be better?

Racking up debt for what we receive today and requiring future generations to pay, doesn't seem to be a fair way to treat our children.

Using social security tax money to pay for an income tax cut, a refund of $400 per child (and general government functions,) doesn't hardly seem like the right way to treat our elderly and future retirees or for that matter wage earners/employers that are paying into the social securtity fund.

TerryinMD · Jun 15, 2003

Hmmmm... simple comment raises some additional comments.

The fiscal problems this country and every other industrialized country now faces is daunting!! /forums/images/graemlins/confused.gif

The Federal, State, and Local gubmints have been living high on the tax base for so long that they have not figured out how to cope with the issues facing them with the growing number of seniors and dwindling number of employed to cover the programs on the books. There have been attempts but no real solutions.

What does a family or business do when money is tight, cut expenses. What does gubmint do when money is tight, raise taxes!! Huh!!!! /forums/images/graemlins/confused.gif /forums/images/graemlins/confused.gif /forums/images/graemlins/confused.gif /forums/images/graemlins/tongue.gif And, when gubmint does decide to cut back in their expenses, in most cases, they do not cut across the board or look at departments/projects/programs which could be trimmed. Yes, they do make cutbacks here and there, but as soon as the coffers begin to fill, it's time to expand - more people, more programs, etc.

The guise of cutting SS, Medicare, and other social programs is always thrown at the public to stir emotions. Fake right, go left!!! Believe me, I'm not in favor of dropping needed social programs, but something has got to give. And I think that it is about time that ALL governements take a good hard look at what is absolutely necessary and cut the programs/projects that are not necessary. Or at least, cut back the funding equal to the loss of revenue.

I'm sorry - I had to pair back and watch my expenses and found out that I can live comfortably on a lot less. So can the Government. We have gotten to use to an expanding economy that has fallen on bad times and have forgotten or not have had to live with a little less. Watch out for the deflation that is occuring now. It has an upside and a downside. And I do not know if the upside is good or bad. The same goes for the downside. Does anyone have a good understanding of deflation (other than a flat tire!! /forums/images/graemlins/laugh.gif /forums/images/graemlins/crazy.gif)

Terry

TerryinMD · Jun 15, 2003

Whoops... just wanted to add one more thing.

SS/Medicare money being paid right now is used right now. There is no trust fund. Only words stating that.... if there were such a fund and it was used as a savings account or other investment, I do not believe we would be in the situation we are in now.

If there is one, please show me where it may be.

Terry

MikePA · Jun 15, 2003

Fellow TBNers...

This thread was started by Tom to let us know of a web site that estimates what the recent tax cut legislation would mean to us.

Let's not let this thread diverge to a debate about politics, tax policy, ad nauseum. There are plenty of other places on the net to do that. Plus, debating politics violates the forum rules.

Related Topics
No politics, religion, or joke lists. Keep it clean and friendly!

poorboy · Jun 15, 2003

I am sorry but does tax policy fall under the no politics clause.
Let it ride and see where it takes us man. /forums/images/graemlins/cool.gif

Patrick