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Re: This child credit BS
[Re: 257wbymag]
#3451778
07/29/21 08:23 AM
07/29/21 08:23 AM
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Joined: Aug 2003
Posts: 3,998 pensacola,fl
dagwood
10 point
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10 point
Joined: Aug 2003
Posts: 3,998
pensacola,fl
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Incentive for those who can't afford or don't need to have more kids to spit out a few more.
jmlane
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Re: This child credit BS
[Re: bama_earl]
#3451812
07/29/21 09:22 AM
07/29/21 09:22 AM
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Joined: Aug 2018
Posts: 5,281 Georgia and Missouri
Semo
12 point
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12 point
Joined: Aug 2018
Posts: 5,281
Georgia and Missouri
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It's the same money you will get back on your tax return... any financial advisor would say take it now and invest. Compared to letting the govt hold it for a year. Yes, why anyone would want the govt to hold their money for them is a mystery to me. I'm even married to one. The thought of owing $1 on April 15th makes her want to let the govt borrow thousands of our money throughout the year. It is the strangest thing.
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Re: This child credit BS
[Re: 257wbymag]
#3451818
07/29/21 09:41 AM
07/29/21 09:41 AM
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Joined: Nov 2015
Posts: 21,454 HSV AL
jmudler
Freak of Nature
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Freak of Nature
Joined: Nov 2015
Posts: 21,454
HSV AL
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Kids will be sent home from schools in Sept/Oct causing parents to go home. Another 3 trillion will be given and part of the reasoning will be so people will have the same tax refunds as previous years.
Isaiah 5:20 Woe to those who call evil good and good evil, who put darkness for light and light for darkness, who put bitter for sweet and sweet for bitter.
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Re: This child credit BS
[Re: jmudler]
#3451823
07/29/21 09:46 AM
07/29/21 09:46 AM
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Joined: Mar 2020
Posts: 7,102 Free State of Winston
FreeStateHunter
They Call Me Gator 🐊
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They Call Me Gator 🐊
Joined: Mar 2020
Posts: 7,102
Free State of Winston
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Kids will be sent home from schools in Sept/Oct causing parents to go home. Another 3 trillion will be given and part of the reasoning will be so people will have the same tax refunds as previous years. Little birdy on a wire told me the preparation for this has already started. DOD put out force guidance last night mandatory masking is back for everyone (vaccinated or not), lots of folks are getting sent back home today (work from home, not fired or anything) and a member of a local school board told me that they've been told to prepare for either all students masking or virtual school again.
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Re: This child credit BS
[Re: James]
#3451826
07/29/21 09:52 AM
07/29/21 09:52 AM
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Joined: Nov 2011
Posts: 10,572
abolt300
Booner
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Booner
Joined: Nov 2011
Posts: 10,572
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It’s just the dependent deduction in monthly form. Going to be a lot of pissed off people that owe thousands at tax time. Yep.... Yep. Same with the unemployment checks. All that is 100% taxable and now the tax credit that most of the lower income people count on getting every year is gone. They'll spend that 300 or 600 a month on junk and non-necessities not being smart enough to know that their annual tax situation has changed dramatically. Lotta people are going to be shocked when the tax man cometh after the first of the year. But hey, it's all about getting control of people right. No better way to control them than for them the owe the govt $10-$12K that they have no way of ever paying.
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Re: This child credit BS
[Re: FreeStateHunter]
#3451827
07/29/21 09:53 AM
07/29/21 09:53 AM
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Joined: Nov 2015
Posts: 21,454 HSV AL
jmudler
Freak of Nature
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Freak of Nature
Joined: Nov 2015
Posts: 21,454
HSV AL
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Kids will be sent home from schools in Sept/Oct causing parents to go home. Another 3 trillion will be given and part of the reasoning will be so people will have the same tax refunds as previous years. Little birdy on a wire told me the preparation for this has already started. DOD put out force guidance last night mandatory masking is back for everyone (vaccinated or not), lots of folks are getting sent back home today (work from home, not fired or anything) and a member of a local school board told me that they've been told to prepare for either all students masking or virtual school again. The blame will be put on the unvaxed as spring board into Jan mid terms. Steve Wonder can see this.
Isaiah 5:20 Woe to those who call evil good and good evil, who put darkness for light and light for darkness, who put bitter for sweet and sweet for bitter.
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Re: This child credit BS
[Re: 257wbymag]
#3451929
07/29/21 12:06 PM
07/29/21 12:06 PM
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Joined: Jan 2008
Posts: 3,689 muscle shoals
todd w
10 point
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10 point
Joined: Jan 2008
Posts: 3,689
muscle shoals
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it blows my mind that you have to opt out if you don't want it in advance by proving who you are and if you are married, both parties have to opt out, but they send it freely to everyone without question.
It is what it is.
Inspect what you Expect.
Hunting TN, AL, KY, and IL.
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Re: This child credit BS
[Re: 257wbymag]
#3452032
07/29/21 02:06 PM
07/29/21 02:06 PM
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Joined: Jan 2018
Posts: 4,669 Michigan
Sasquatch Lives
10 point
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10 point
Joined: Jan 2018
Posts: 4,669
Michigan
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I still haven't gotten my second stimulus yet, been fighting the IRS about it. Total debacle. About to the point to tell them to just keep it.
Last edited by Sasquatch Lives; 07/29/21 02:07 PM.
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Re: This child credit BS
[Re: eclipse829]
#3452123
07/29/21 04:08 PM
07/29/21 04:08 PM
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Joined: Nov 2011
Posts: 10,572
abolt300
Booner
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Booner
Joined: Nov 2011
Posts: 10,572
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I think the increase will probably cover the tax burden year one because of partial payout. Next tax time when you have recieved a monthly credit for an entire year, you will probably be on the hook for the tax bill. That's not the issue eclipse. Do you know how taxes and tax credits work? They get the money now and they spend it and it is gone. In normal years, it shows up on their tax return as a credit, $ for $, to offset taxes owed on wages earned for the year or in a lot of cases now, unemployment. If the credit is not there and they have already spent the money, they are left with a tax bill that they have no way of paying. Yes, in theory, the increase will cover the tax shortfall but that is only if they money is put into savings, which with the typical people this will effect, the chances of those monies going into savings and remaining there are pretty much nil. Example: For a family with three children (one under 6 and two over), getting that $800/month in advance for 6 months, assuming they make the same AGI and have the same withholding as last year, will equate to an increase at tax time in taxes due of $4,800 since that is the amount that their normal tax credit would cover, ......unless every penny that they get monthly is saved to pay taxes. See, if your withholding is the same or less, and you normally have that huge child tax credit at the end of the year to offset what you owe, and now all of a sudden that huge credit is not there or is cut in half, and you dont have the cash to pay it yourself, you're SOL and owned by the IRS (which may have been the intent the whole time). This will be compounded exponentially when people realize that both the regular state unemployment as well as the "bonus" federal unemployment is fully taxable at the federal level but there is no federal tax withheld from unemployment unless you formally elect to have it done and virtually nobody is responsible enough to have that 10% withheld. Not to mention it's also a double whammy, if you've got two adults on unemployment and the combined unemployment is more that they would normally make (gonna be the case in a lot of instances) and it actually pushes them into a higher tax bracket. Wait and watch, and you'll see a ton of people bitching about taxes next spring.
Last edited by abolt300; 07/29/21 04:47 PM.
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Re: This child credit BS
[Re: FreeStateHunter]
#3452134
07/29/21 04:38 PM
07/29/21 04:38 PM
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Joined: Jan 2001
Posts: 25,847 Fayetteville TN Via Selma
jawbone
Freak of Nature
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Freak of Nature
Joined: Jan 2001
Posts: 25,847
Fayetteville TN Via Selma
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Speaking of vaxxed and unvaxxed my wife was telling me about her aunt last night. Her Aunt got vaxxed in March. Her kids got COVID last week and were unvaccinated. She was going to take care of them since she got the shot. Well not only did she get COVID but they had to put her in the hospital last night and if her oxygen continues to drop she goes on the ventilator. Just like she never had a vaccination we’re all sitting here waiting for day 10 of her being sick to see if she pulls through or takes a turn for the worst because that’s supposedly when you can tell.
I’ve been vaccinated because I had to be but honestly when I got it I thought it would at least be effective. I’m now sitting here with something in my body for what seems like no reason at all. If I go into a building I still am asked to wear a mask (I never have except work), I can still get sick obviously and now it’s clear you can still get so sick you’re hospitalized and even die.
Take it from someone who is vaccinated, don’t take it. I don’t care what horror story a person will come on here and tell about what they saw at work. They’re directing their frustrations at the wrong people. The vaccine doesn’t work and the Chinese created something that’s killing us. Be mad at the Chinese, not the unvaccinated. Sorry Auntie is in the 5% but they never said being vaccinated is 100% against getting it. Hopefully it will help her and she will pull through. Listen to what your doctor tells you not what people on Aldeer or anywhere else that don't know their ass from a hemorrhoid will tell you. If you think you know more than your doctor or are smarter than they are then you need a new doctor.
Lord, please help us get our nation straightened out.
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Re: This child credit BS
[Re: Sasquatch Lives]
#3452160
07/29/21 05:01 PM
07/29/21 05:01 PM
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Joined: Aug 2003
Posts: 42,181 UR 6
top cat
Freak of Nature
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Freak of Nature
Joined: Aug 2003
Posts: 42,181
UR 6
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Old dementia Joe has created another class of americans. Upper class, middle class, lower class and now we have the government dependent nonworking class. Yup
LUCK:::; When presistence, dedication, perspiration and preparation meet up with opportunity!!! - - - - - - - -A government big enough to give you everything you want, is big enough to take everything you have. Thomas Jeferson - - - - - - - -
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Re: This child credit BS
[Re: abolt300]
#3452168
07/29/21 05:11 PM
07/29/21 05:11 PM
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Joined: Jun 2014
Posts: 4,270 Jasper Al
eclipse829
10 point
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10 point
Joined: Jun 2014
Posts: 4,270
Jasper Al
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I think the increase will probably cover the tax burden year one because of partial payout. Next tax time when you have recieved a monthly credit for an entire year, you will probably be on the hook for the tax bill. That's not the issue eclipse. Do you know how taxes and tax credits work? They get the money now and they spend it and it is gone. In normal years, it shows up on their tax return as a credit, $ for $, to offset taxes owed on wages earned for the year or in a lot of cases now, unemployment. If the credit is not there and they have already spent the money, they are left with a tax bill that they have no way of paying. Yes, in theory, the increase will cover the tax shortfall but that is only if they money is put into savings, which with the typical people this will effect, the chances of those monies going into savings and remaining there are pretty much nil. Example: For a family with three children (one under 6 and two over), getting that $800/month in advance for 6 months, assuming they make the same AGI and have the same withholding as last year, will equate to an increase at tax time in taxes due of $4,800 since that is the amount that their normal tax credit would cover, ......unless every penny that they get monthly is saved to pay taxes. See, if your withholding is the same or less, and you normally have that huge child tax credit at the end of the year to offset what you owe, and now all of a sudden that huge credit is not there or is cut in half, and you dont have the cash to pay it yourself, you're SOL and owned by the IRS (which may have been the intent the whole time). This will be compounded exponentially when people realize that both the regular state unemployment as well as the "bonus" federal unemployment is fully taxable at the federal level but there is no federal tax withheld from unemployment unless you formally elect to have it done and virtually nobody is responsible enough to have that 10% withheld. Not to mention it's also a double whammy, if you've got two adults on unemployment and the combined unemployment is more that they would normally make (gonna be the case in a lot of instances) and it actually pushes them into a higher tax bracket. Wait and watch, and you'll see a ton of people bitching about taxes next spring. I feel for those that try hard to get ahead and shucks like this catches them off guard because they don't understand it. For the ones that work about 1/2 a year and live off the government teet, and then file taxes on them 3 kids and get back $10 Grand quit their job again and are broke 3 weeks later, I hope those bastages starve.
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