This is a story that I saw back in February. I intentionally said nothing…until now. While that sounds crazy, let’s talk about the story first, from the WaPo.
Some 15.4 million taxpayers could receive smaller refunds than they expected or owe taxes next year because they did not have enough money withheld from their paychecks as part of the Making Work Pay tax credit program, according to a report issued Monday.
The tax credit advocated by President Obama and enacted in February as part of the $787 billion economic stimulus plan lowered taxes for all but the nation’s highest wage earners. It cut payments by as much as $400 for individuals and up to $800 for couples. Most workers started receiving the tax credit earlier this year as small reductions in the amount of taxes withheld from their paychecks.
But federal tax tables that guide those withholdings did not account for some wage earners whose personal situations complicated the tax credit calculation. That category included some workers with more than one job, some married couples in which both spouses work, and some Social Security recipients with jobs.
The Treasury Department’s inspector general for tax administration estimated that more than 10 percent of all taxpayers who file individual tax returns for 2009 could owe additional taxes because of the complexities of the Making Work Pay credit. Of that group, the IRS estimated that 65,000 taxpayers could technically face penalties for underpaying their taxes in 2009, although the agency said it would waive such fees.
So, the Tax relief that the POTUS touted, and it WAS represented as a tax CUT, was nothing of the sort. Frankly, for the amount that is is, I can buy McDonald’s Value Meals for three…with every paycheck! That’s stimulus that you can believe in!
So, why didn’t I say anything? Well, there is a story behind that. I saw something about this back in February on Yahoo News. I immediately showed my wife, who, let’s just say, knows about such things, and we immediately planned to get shorted by this scheme. We made plans to increase our withholdings, and I prepared to write about the story on the previous incarnation of this blog.
Then, we went out for dinner. We ended up waiting about 30 minutes for a table. During this time, we were sitting by a group of 5-6 people that were singing Obama’s praises. They talked about the “tax cut,” and how Obama had helped them, and how Bush did nothing (they apparently had forgotten the bigger tax cut that actually WAS a tax cut). I kept silent and just listened. After listening to this Obama worship for about 15-20 minutes, I decided that I would keep my mouth shut and allow people like this to suffer the consequences of “Hope and Change.”©
Now, I know those people were never going to read my blog. Actually, I think my only reader back then was Snarky Basterd! But for me, it was my small way of letting the Kool-Aid Drinkers experience Obama’s Amerika.
So, I will end this post as I did back when I was attempting to be snarky…
How ya likin’ that “change?”
Matt
I believe that future generations should have the same opportunities that myself, and those that came before me, had. My parents taught me that I could do anything I wanted to do. I don’t want to have to tell my daughter, “You can do whatever the government tells you to do.” We are at a crossroads in this country; are we going to be free, or are we going to be slaves to the nanny state. I choose freedom.
>>>That category included some workers with more than one job, some married couples in which both spouses work
That describes me exactly. So I’m double screwed. I’m working the second job precisely because I had a very unexpected tax liability last year, and it just wasn’t in the budget to pay it off in a reasonable time without some extra income.
I’m now working two jobs to pay for my taxes, which means “tax him even more next year!” to Obama/Pelosi/Reid.
It would be nice if, just once, some no-job welfare-livin’ dope smoker would stop and personally thank me for busting my ass to support him.
Actualy, it’d be even nicer if, just once, a fat lazy congressman would thank me for all my “patriotic” tax contributions instead of questioning my patriotism.
They won’t though. Sense of entitlement and all.
Sorry to hear you’re having to work extra. That’s why Mrs. Matt is working. We work more so other’s can sit around and do nothing…not quite what the founders had in mind, I suspect.
great piece my friend!:)..ditto to the comment above!
I hear ya Angel, and thanks!
I remember us exchanging some sort of commentary on this subject and that you’d said you’d wait. This is just more of what I call hopeless change, which, of course, needs know explanation.
RE: innoman’s commentary above, I saw we start rattling the tip jars on our blogs and calling all welfare grubbing Obamabot liberal trolls to contribute or we’ll block their URLs so they can’t spy on us.
Yeah Snarky, I think we did talk about that right after it happened.
The thing about the libs, is that they would say that we had to contribute to our own tip jars. They aren’t about to part with their own money. They’ll do anything and everything with someone else’s though! That’d be like telling Al Gore to give up his ginormous mansions and private planes.
Under the left’s view of the world, they tell us how to live, and we’re supposed to say, “BAAAAAA.”
He did say change….we just thought he was using it as a verb.
Apparently, change has multiple uses in this administration. Of course, for me, he can keep all the change.
The way these guy fudge their numbers and the half-truths they fill the airways with makes it difficult to find the truth. Occasionally something like this does come to light, however only a handful see that light. Thanks for illuminating this.
This one was hilarious to me. I remember in one of his televised speeches saying how this was the biggest tax cut in US history. I hope some of his voters, especially the Independent variety, gets a taste of Obama’s Amerika.
This reminds me of the pay raise he just promised the military here. We just had a huge pay cut and are having to lose our bonuses due to budget cuts. Good thing he is looking out for people.
Sorry to hear about that Trestin, but you’ll never see that on the MSM, and the folks in uniform, God bless them, will only continue to get hosed by this guy.