IRS Form 1040, Line 8a

[NickD 203]

With increased inflation and decreased interest rates, have those years like 2008 where your money is worth less even with the accrued interest added to your savings.

In checking the inflation rate for 2008, best I could find was 3.85%, don't know how they came up with that figure, my utility bills increased by 30% with the same usage between 2007 and 2008 and our school property taxes increased by 20% over the same time period. Didn't do gasoline bills yet, don't want do. But my money that our government encourages us to save even with the accrued interest is worth far less today than it was a year ago.

And they want us to pay income taxes on that accrued interest? In my case, an extra $1,268.00 check as to be sent, really feel like I am getting screwed.

Where in the hell is Joe the plumber when you need him?

State college tuition has skyrocketed, not even offset by the increase in property taxes, but that have a $4,000.00 cap on the amount of tuition you can deduct. Just seems whichever way you turn, you are getting screwed. In like manner, our state has a $2,000.00 cap on property taxes you can deduct, can't even remember when our property taxes was that cheap.

That $3,500 deduction for a kid is also a bad joke, you don't get $3,500.00 back, you simple don't pay taxes on that amount and that is after they creamed your check on FICA taxes. Since they are charging income tax on SS benefits right now, seems like you should be able to deduct those FICA taxes off the top, but you are not allowed to. And that same government says it cost them $12,000.00 a year to baby sit your kid in school, they sure in the hell don't teach them anything.

Anyway we turn, we are getting screwed. And when you go to a store to buy anything, you are paying for their property taxes, FICA taxes, health insurance, utility bills, bank interest, etc., as well. It has to be built into the price for the place to stay in business.

[lostinblue 1,989]

My company gave me a 17 cent cost of living raise this year. Health insurance went up 15 dollars/week. But I am still working. Have a sister who lost her job and health insurance is $1500/month under cobra. Don't worry. obama is bringing socialism to you as fast as he can . Cheer up soon we will sing songs about our great leader Kim Yong-il sorry

great leader obama