Tax Test: Checking the Republicans Math.

[Blue State Bandit]

Here's a bit of extra credit for those who want to get more Democrats elected in November.

So we all remember the schooling that Obama gave the House GOP at their "retreat" last week, right? One of the key talking points that the GOP kept trying to push, was that Obama had raised taxes on Americans. So I got curious about what would happen if I had to file my 2009 tax returns using the 2008 1040. Guess what I found out.

After doing my first draft of my 2009 tax returns, I plied my '09 W-2's and 1099's to an '08 trial run, and my tax return increased by 18.4% (from $1731 for 2008 to $2050 for 2009).

Anyone else interested in "testing the math", as Obama had put it, here's what you need.

http://www.taxman123.com/taxman123_images/IRS_form_1040.pdf">2008 1040 form


http://www.unclefed.com/IRS-Forms/2008/i1040.pdf">2008 instructions

1. Problem: You need to calculate percent % increase from 2 to 10
2. First Step: find the difference between two numbers, in this case, it's 10 - 2 = 8
3. Second: Take the difference, 8, and divide by the original number: 8/2 = 4
4. Lastly, multiply the number above by 100: 4*100 = 400%

If you feel up to the task, post your percentage increase, or decrease here. For your own security, I would like to keep it at just the percentage changes (+/-) and only include final $ values if you feel comfortable. DO NOT POST FORMS HERE!

Let's see if the Republicans math really adds up.