The Angry White Guy

Thanks to Georgieweblog.com for this image

Obama and the democrats keep telling you how you are getting a $13.00 per per week tax cut, well from what I can find it’s not true. Oh you’ll get the $13.00 starting in April dropping to $8.00 in January 2010, but it’s nothing more than a adjustment of your withholdings, sort of like adjusting your W-4 without you actually adjusting it. It is a involuntary adjustment done for you by the government, because they know what’s best for you. Your actual income tax liability hasn’t changed from what I see, you will still owe the same amount of taxes at the end of the year unless you’re part of the so call small business owners rich then you get to pay more. This is nothing more than liberal propaganda.

Here what it says …

For 2009 and 2010, the Making Work Pay provision of the American Recovery and Reinvestment Act will provide a refundable tax credit of up to $400 for working individuals and $800 for married taxpayers filing joint returns.

This tax credit will be calculated at a rate of 6.2% of earned income and will phase out for taxpayers with adjusted gross income in excess of $75,000, or $150,000 for married couples filing jointly.

For people who receive a paycheck and are subject to withholding, the credit will typically be handled by their employers through automated withholding changes in early spring. These changes may result in an increase in take-home pay. The amount of the credit must be reported on the employee’s 2009 income tax return filed in 2010. Taxpayers who do not have taxes withheld by an employer during the year can also claim the credit on their 2009 tax return.

It is not necessary to submit a Form W-4 to get the automatic withholding change. However, an employee with multiple jobs or married couples whose combined incomes place them in a higher tax bracket may elect to submit a revised W-4 to ensure enough withholding is held to cover the tax for his or her combined income. Publication 919 provides additional guidance for tax withholding.

Think I’m making it up? Go to the IRS and read it.

Yet another Obama magic trick to make you think you are getting something when you actually aren’t getting anything that you didn’t already have. Now I’ve put a letter into The White House to answer this question about just where are the tax cuts when there actual isn’t one at all and just like Congressmen Whitfield I’m still waiting for an answer.

So the next time some liberal starts ranting about the tax cuts for 95% of tax payers, point out two things …

1. 45% of those paying taxes get back more than they pay in, they get tax payer funded welfare.
2. The tax cut is not a tax cut it’s a tax credit, you still have the same tax liability at the end of the year and depending on how you have your money withheld you might actually end up owing or owing more.

So where is the tax cut he promised? The only thing I’ve seen cut under Obama is my income and my 401K.

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