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Posted: 12/17/2010 4:23:49 AM EDT
[#1]
I think when the last big tax cuts went in place I saw my paycheck jump $8.
I bought lunch at Panera. Yeah. Jumpstart the economy mother fuckers!!  |
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Posted: 12/17/2010 4:25:34 AM EDT
[#2]
Quoted: Just curious what most folks do when their taxes are cut. Do you spend some, save some? Save more? Or splurge with another spending binge? Are you talking about the 2% payroll cut? |
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Posted: 12/17/2010 4:25:48 AM EDT
[#3]
Save/invest 75%, directly spend about 25%
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Posted: 12/17/2010 4:26:44 AM EDT
[#4]
Hookers
Blow |
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Posted: 12/17/2010 4:26:57 AM EDT
[#5]
'Most people' don't even notice when the gov takes less of their money out of their paycheck.
'Most people' only change their spending/savings (if any) habits when tax rates increase. Then its usually to put less in savings to maintain the spending habit. |
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Posted: 12/17/2010 4:27:19 AM EDT
[#6]
Buy silver or better yet, long term food.
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Posted: 12/17/2010 4:27:35 AM EDT
[#7]
Quoted:
Quoted:
Just curious what most folks do when their taxes are cut. Do you spend some, save some? Save more? Or splurge with another spending binge? Are you talking about the 2% payroll cut? you know, the table scraps Congress throws our way 
Anything really. But it's the possible extension of the Bush tax credits that got me thinking about it. |
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Posted: 12/17/2010 4:29:55 AM EDT
[#8]
Just an extension of tax cuts that are already in place - I won't see a difference.
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Posted: 12/17/2010 4:32:55 AM EDT
[#9]
Mix for me as well
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Posted: 12/17/2010 4:36:21 AM EDT
[#10]
Quoted:
Just an extension of tax cuts that are already in place - I won't see a difference. QFT. |
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Posted: 12/17/2010 4:37:30 AM EDT
[#11]
Quoted: You are out in left field if you believe we just got a tax cut. Extension means you will not see a change. Quoted: Quoted: Just curious what most folks do when their taxes are cut. Do you spend some, save some? Save more? Or splurge with another spending binge? Are you talking about the 2% payroll cut? you know, the table scraps Congress throws our way Anything really. But it's the possible extension of the Bush tax credits that got me thinking about it. Whatever scraps I get will go directly to my monthly healthcare premium that doubled for 2011. |
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Posted: 12/17/2010 4:37:57 AM EDT
[#12]
Quoted:
Quoted:
Just an extension of tax cuts that are already in place - I won't see a difference. QFT. Posted Via AR15.Com Mobile |
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Posted: 12/17/2010 4:38:17 AM EDT
[#13]
Hire another employee.
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Posted: 12/17/2010 4:54:15 AM EDT
[#14]
Pay off bills. 90% chance my job will disappear in the next 12 months or so.
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Posted: 12/17/2010 4:58:54 AM EDT
[#15]
I spend it all on Bacon....
 Just kidding, I spend it on Hookers and Blow, Duh. I kid I kid. I have not noticed any tax cuts coming my way, from Bush or Obama. (WHen I refer to bush, I mean I didn't get his helicopter money either)
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Posted: 12/17/2010 5:01:54 AM EDT
[#16]
Don't get it so it dosen't matter.
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Posted: 12/17/2010 5:03:18 AM EDT
[#17]
Quoted:
Just an extension of tax cuts that are already in place - I won't see a difference. No, a 2% payroll tax cut. The social security withholding is going from 6.2% to 4.2% starting next year. The other taxes, like you said, won't change. But there will be a 2% decrease in the taxes of your paycheck. Insignificant to us? Yes. Significant to Congress? Yes. I would honestly be fine with the tax rates going back up if the difference was devoted to paying off our national debt. |
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Posted: 12/17/2010 5:05:25 AM EDT
[#18]
Quoted:
Quoted:
Just an extension of tax cuts that are already in place - I won't see a difference. No, a 2% payroll tax cut. The social security withholding is going from 6.2% to 4.2% starting next year. The other taxes, like you said, won't change. But there will be a 2% decrease in the taxes of your paycheck. for those making less than 106K Insignificant to us? Yes. Significant to Congress? Yes. I would honestly be fine with the tax rates going back up if the difference was devoted to paying off our national debt. |
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Posted: 12/17/2010 5:05:28 AM EDT
[#19]
Stimulating my ammo, and food stash.
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Posted: 12/17/2010 5:07:20 AM EDT
[#20]
What tax cut? Rates are staying the same.
ETA: Oh the 2% payroll? Maybe that and my 0.5% raise after 0% the year before will offset some inflation... |
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Posted: 12/17/2010 5:09:38 AM EDT
[#21]
Quoted:
What tax cut? Rates are staying the same. There's a 2% cut in payroll tax for those that aren't rich  (106K up)
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Posted: 12/17/2010 5:13:20 AM EDT
[#22]
A mix of both. I'm big on saving, but I like my toys and and hobbies.
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Posted: 12/17/2010 5:17:47 AM EDT
[#23]
Wow; 2%. The rich get richer.
A tax cut, even though it has been the tax rate for 10 years. It costs the gov't 1.2 trillion, even though the gov't is not entitled to it. Dems still trying to punish the rich by raising inheritance taxes. What a great day for our leaders. Fuck them. |
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Posted: 12/17/2010 5:29:36 AM EDT
[#24]
Quoted:
I think when the last big tax cuts went in place I saw my paycheck jump $8. I bought lunch at Panera. Yeah. Jumpstart the economy mother fuckers!! My Taxes have slowly risen a few dollars the past couple years, so I take home a few bucks less than previous,and my pay has been the same so???? 
ETA-clarification |
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Posted: 12/17/2010 5:29:48 AM EDT
[#25]
Quoted:
Just an extension of tax cuts that are already in place - I won't see a difference. No cuts were made.
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Posted: 12/17/2010 5:38:24 AM EDT
[#26]
Even though GD is a crazy place, I do learn some valuable things from time to time. One of those things is that I should pay off debt as soon as possible and live as debt free as possible. I don't know about an increase in my pay check from recent tax bills but I'm working my ass of right now getting overtime because it is so rare where I work. That money is going to pay off debt and with the overtime, the light at the end of the tunnel recently got much brighter.
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Posted: 12/17/2010 5:42:37 AM EDT
[#27]
It's still not a tax cut - the income tax rate remains the same as it has been for 10 years.
The death tax is a tax increase.
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Posted: 12/17/2010 5:43:13 AM EDT
[#28]
stimulating the economy with debt is NEGATIVE stimulation. It hurts in the long run
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Posted: 12/17/2010 5:48:38 AM EDT
[#29]
What tax cut?
My taxes are staying the same now AND the government is spending more money it does not have. |
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Posted: 12/17/2010 6:04:06 AM EDT
[#30]
If you are referring to the recent legislation. It was not a tax cut. It was an extension of the current tax rates.
If you are a business, it depends on the life of the tax rate. The current bill only extended the current rates for a short period, not enough to change any current corporate behavior. You cannot predict far enough out. However, but not raising the taxes, it stabilized things. Hopefully, the next congress will make the current rates permanent. That will have a positive effect.
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Posted: 12/17/2010 6:05:42 AM EDT
[#31]
Quoted:
Quoted:
Just an extension of tax cuts that are already in place - I won't see a difference. No, a 2% payroll tax cut. The social security withholding is going from 6.2% to 4.2% starting next year. The other taxes, like you said, won't change. But there will be a 2% decrease in the taxes of your paycheck. Insignificant to us? Yes. Significant to Congress? Yes. I would honestly be fine with the tax rates going back up if the difference was devoted to paying off our national debt. A 2% decrease in SS tax works out to an additional $1400 for my wife. I wouldn't exactly call that insignificant. I don't pay into SS, so my income will remain unaffected. |
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Posted: 12/17/2010 6:07:28 AM EDT
[#32]
As stated above, this is a tax increase.
DEATH tax went up from zero to 35%. I believe taxes on dividend and cap gains were not included in this bill. Those went from the old rate (now) zero to 40% on Jan 1 2011. |
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Posted: 12/17/2010 6:08:22 AM EDT
[#33]
I save and my wife spends.
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Posted: 12/17/2010 6:09:28 AM EDT
[#34]
Most people probably don't have a noticable lifestyle change due to taxes.
I subscribe to the economics of cutting taxes, but I think it is alittle overblown too. We need more certainty and high consumer confidence in the private sector more than anything else. |
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Posted: 12/17/2010 6:10:52 AM EDT
[#35]
Quoted:
Quoted:
You are out in left field if you believe we just got a tax cut. Extension means you will not see a change.
Quoted:
Quoted:
Just curious what most folks do when their taxes are cut. Do you spend some, save some? Save more? Or splurge with another spending binge? Are you talking about the 2% payroll cut? you know, the table scraps Congress throws our way
Anything really. But it's the possible extension of the Bush tax credits that got me thinking about it. Whatever scraps I get will go directly to my monthly healthcare premium that doubled for 2011. Actually do get an increase in take home pay since SS withdrawl is going down, about $1000 dollars for a $50K salary. Enough for a new AR, amirite? 
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Posted: 12/17/2010 6:24:35 AM EDT
[#36]
IT IS NOT A TAX CUT
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Posted: 12/17/2010 6:28:16 AM EDT
[#37]
Bit of 1 and 3.
My wife and I want to pay off the little credit card debt we have, but we're also trying to move (dependent on me finding a new job) so we're saving for the move and possibly trying to buy a house in the next 6 months or year. Posted Via AR15.Com Mobile |
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Posted: 12/17/2010 6:31:26 AM EDT
[#38]
Nothing will change for me. I'll continue to pay down debt and not spend on anything that isn't ESSENTIAL.
RG |
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Posted: 12/17/2010 6:40:24 AM EDT
[#39]
Quoted:
Quoted:
Quoted:
Just an extension of tax cuts that are already in place - I won't see a difference. No, a 2% payroll tax cut. The social security withholding is going from 6.2% to 4.2% starting next year. The other taxes, like you said, won't change. But there will be a 2% decrease in the taxes of your paycheck. Insignificant to us? Yes. Significant to Congress? Yes. I would honestly be fine with the tax rates going back up if the difference was devoted to paying off our national debt. A 2% decrease in SS tax works out to an additional $1400 for my wife. I wouldn't exactly call that insignificant. I don't pay into SS, so my income will remain unaffected. Well, you won't pocket the full $1400. You'll get taxed on that at your regular rate. You'll probably clear around $1000 or so, which is better than $0. |
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Posted: 12/17/2010 6:49:26 AM EDT
[#40]
2% will be so small that I can't even begin to imagine where I'd spend the extra dollar or two a pay check.
Oh hell it's going to be about $75 a pay check prior to taxes so that means I'll end up with $37, nice. 35% to taxes, 15% to savings, 50% to spend. I thought it was a 2% reduction in the 7.6% (whatever) rate to 7.55% vice dropping it down to 5.6% |
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Posted: 12/17/2010 6:50:22 AM EDT
[#41]
Save and spend carefully.
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Posted: 12/17/2010 6:50:41 AM EDT
[#42]
I am scrambling to be free of my unsecured debts. So whatever extra money I have will go there.
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Posted: 12/17/2010 6:53:23 AM EDT
[#43]
1099. What is this "tax cut" you speak of? I'm gonna be writing a bigass check very soon.
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Posted: 12/17/2010 6:56:36 AM EDT
[#44]
Buy PM's and ammo in less than $600 increments.
TC |
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Posted: 12/17/2010 7:01:08 AM EDT
[#45]
Quoted:
2% will be so small that I can't even begin to imagine where I'd spend the extra dollar or two a pay check. Oh hell it's going to be about $75 a pay check prior to taxes so that means I'll end up with $37, nice. 35% to taxes, 15% to savings, 50% to spend. I thought it was a 2% reduction in the 7.6% (whatever) rate to 7.55% vice dropping it down to 5.6% 15% into savings? _A certain someone should be _Along shortly to tell you what an idiot you are for not spending it all as soon as you get it.
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