House to vote on Extending Unemployement Benefits

[Swing low, sweet chariot. Comin' for to carry me home.]

http://finance.yahoo.com/news/House-to-vote-on-extending-cnnm-3931677165.html?x=0&sec=topStories&pos=7&asset=&ccode=


Next Wed. Don't know if it will save us from the 19.6% drop in benefits when we switch from the federal to the states extention in November. But every little bit helps.

sounds good, but this is probably going to be the last one I would support

[Swing low, sweet chariot. Comin' for to carry me home.]

It is a travesty that there is any 'end date' to unemployment benefits.

did your parents threaten to cut you off?

[Swing low, sweet chariot. Comin' for to carry me home.]

People are going to be straight up fucked come tax time in 2010.  I doubt anyone on unemployment seriously planned for having to pay taxes on that money; and I further doubt that anyone on extended unemployment would even be able to.

You have to pay taxes on unemployment benefits?

yeah, but if you're unemployed for an extended period of time, it is very doubtful you'll even owe any federal income tax.

[Swing low, sweet chariot. Comin' for to carry me home.]

People are going to be straight up fucked come tax time in 2010.  I doubt anyone on unemployment seriously planned for having to pay taxes on that money; and I further doubt that anyone on extended unemployment would even be able to.

You have to pay taxes on unemployment benefits?

yeah, but if you're unemployed for an extended period of time, it is very doubtful you'll even owe any federal income tax.

If your income is somewhere around the poverty level, that may be correct.  But for the rest of us, earning just half our income still puts us in SOME tax bracket.

AGI under $67k for a married couple only pays 15%, and that's AGI.  Why should a fully employed married tax return with an AGI of $67k pay 15% and a family who has drawn unemployment on the public dime yet still has an AGI of $67k pay less than 15%?