Ok, I thought BamBam stated on public TV that the Bush tax cuts were extended? Well, I just did our taxes, DH and I make under $100k/year, no deductions, kids all raised, mortgage paid --- so yeah we pay, but I'm telling yeah the SOBs are lying like a you know what!
The Fed tax for married filing joint was over $15k!; which came to about 17% of our gross income, not 10%, not 15%.
And,we have to write out a check for close to $2k to cover this increase. And we both CLAIM ZERO on our W4's.
So how the hell can you claim zero and still pay at the end of the year...I still haven't figured this one out, although we've owed every year since the kids were technically of age and we could no longer claim them.
It's even WORSE for single people. I was absolutely disgusted. I know they flippin raised them from last year, so BamBam is jacking us around again.
Did anyone else on this board get a SHOCK this year when doing their taxes?
Next year, when there is no "Making Work Pay" credit, we'll owe even more. I'm disgusted. Rant off.