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Title: February 2010 Federal Tax withholding plummet (So much for recovery)
Source:
Zerohedge.com
URL Source: http://www.zerohedge.com
Published: Mar 2, 2010
Author: Tyler Durden
Post Date: 2010-03-02 00:12:43 by Nebuchadnezzar
Keywords: None
Views: 2306
Comments: 16
February 2010 Federal Tax Withholdings Plunge To Multiyear Low Submitted by Tyler Durden on 03/01/2010 22:31 -0500 * Federal Tax * Recession February was not an auspicious start to Obama's record budget deficit-busting plans. The Daily Treasury Statement for the full month of February was just released, and it disclosed that while corporate tax withholdings, net of refunds, actually climbed marginally to $3.4 billion from $(3.4) billion in February 2009, individual tax withholdings plunged to a multi-year low of $30.7 billion. Combined, the two items also posted a multi low of $34 billion, less than the previous recent low from February 2009 when the first leg of the Greater Depression was allegedly at its zenith (see chart below). We can't wait to hear how the "recession is over" brigade will paint this particular data point.
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Begin Trace Mode for Comment # 12.
#2. To: All (#0)
No comment from our resident Obama defenders? Oh, too busy with all the pumping. I get it.
this isn't surprising given the tax cuts enacted last year by the Democrats.
Didn't some sort of change in witholding go into affect as well?
Yeah, as of January, they're taking more out.
Lie. It's called Making Work Pay and they withhold less from some wage earners. Douche...
The memo sent from our Controller's Office: From: ******, Patty Sent: Friday, January 29, 2010 9:05 AM To: ****.HR-Mgrs.Asst Subject: January taxes Good morning all. I had planned on sending this out earlier, but I’ve spent quite a bit of time at ****** this week and just haven’t had time to send it. The stimulus tax package ended 12-31-09. Federal taxes reverted back to what they were before the stimulus tax package was put in place in March last year, (retro to February). Having said that—this means that most employees will see a slight decrease in their net pay. Hopefully, this will help you to answer employees’ questions when they ask why their take home pay is less than it was last month. Patty Patty ******, Payroll Manager
And, Puddin', my last two bonuses were withheld @ 30% not the standard 35%...
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#3. To: All, War, Brian S, Go65 (#2)
#5. To: Nebuchadnezzar (#3)
No comment from our resident Obama defenders?
#6. To: go65 (#5)
(Edited)
#8. To: war (#6)
Didn't some sort of change in witholding go into affect as well?
#9. To: dont eat that (#8)
(Edited)
#10. To: war (#9)
#12. To: dont eat that (#10)
Replies to Comment # 12.
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