Obama Tom Foolery... Here's an example!

[HistoryMamaX3]

We've all heard that President Obama's kept good on his promise to cut taxes and give us all money in our pocket. Yay!

In case you haven't, the run down is that beginning in April- everyone gets $13 a week added to their net pay. Then, in January of 2010, this amount will drop down to $8. Now, this amount seems small- but it really does add up over the year. (Unless of course you are unemployed- you will get $25 per week.)

However- what they have not told you is that while they are adjusting this tax withholdings, they are not going to change the tax rates. This means that this money you are being given to help out- is considered income and YOU WILL BE PAYING MOST OF IT BACK!

Now, for many people, this will not be too much of an issue. Adding an additional $1000 to your yearly income is nice- but for some, this is going to play HELL on their tax filings next year. Many people that count on tax returns will end up with less returns or OWING the government.

Be careful, my friends. I know how hard things can be- and this is going to blind-sight some of our friends and family members... I urge you to take a moment and chat with someone knowledgeable in this area and take the proper precautions so you will not be ill effected in the future!

I don't trust Obama's plans- he says one thing and doesn't tell you the full story. This is NOT the transparency he promised. This is a perfect example of manipulation of the system to look as though we are being helped- when in fact, we will find ourselves had.

[Fistandantalus]

Feb. 27, 2009 at 5:55 PM

Where did you look, because I know I read or heard that somewhere, maybe last night's Glenn Beck show?

[Fistandantalus]

Feb. 27, 2009 at 5:56 PM

...and come ON folks, leave some comments!  Even if you don't agree, we're all intelligent folks, there can be conversations, yes?

[MemawBrie]

Feb. 27, 2009 at 6:05 PM

I was just thinking we could be like some of the clowns he chose for his cabinet and not claim the income ;-D  I mean, hey, we could get away with it...I don't plan on running for public office, do you?

[HistoryMamaX3]

Feb. 27, 2009 at 6:37 PM

I've been trying to find a "legitimate" source. I emailed a friend that works in this area and he said he'd get back to me with all the technical nitty gritties... but he's rather busy today- he did in fact, confirm this to be true from what he sees on next years information.

I was made aware of it today while listening to Rush. A woman called in to let us all know what her tax guy carefully explained to her... Rush took a break and came back on to explain how, yes, in fact she was right. He wasn't aware of it either- and he was going to make sure that we are all aware of it soon enough.

I know this isn't the best of a source, but so far all my own research has yet to prove otherwise- I'd love for someone to explain to me how I am wrong... I would really, really like to be wrong!  I don't do numbers and my husband is FULLY in charge of our taxes.

Liz... I've given up here with hopes that someone might converse with me. :0)  I'll just keep posting away. At least I know that I've helped spread the word.

(Original Poster)

[Fistandantalus]

Feb. 28, 2009 at 10:18 AM

Carmin, I guess I'm thinking about this situation in terms of circulation of cash.  They give it to us, we spend it, putting it back into the economy, then they take some of it back from us.  Are you certain that $1000 is going to cause serious problems for the average American come tax time, because I can't really fathom how that's going to be such a huge problem. 

[HistoryMamaX3]

Feb. 28, 2009 at 12:15 PM

Liz, the problem comes when it is attached to your paycheck as income- but after it has already been taxed. Thus- when it comes to tax time you will be "making" roughly $1000 more taxable income (according to the IRS) which they will gladly want to take back. As I said- for most people, it isn't going to be a big deal and they won't see much of a difference. But for those that make less... They will really see a difference when they OWE the government when they normally get back. Even if they owe just a little- most people in lower income brackets come to depend upon their returns.

It is an easy fix to adjust your deductions- but most people are not going to know this.

It angers me- because the very people they are trying to help here are going to find themselves in a bit of a pickle later on!

(Original Poster)

[MemawBrie]

Feb. 28, 2009 at 12:26 PM

Even some of Obama's fellow Democrats are beginning to question him.  There is dissent among the ranks.  He's trying to appease both sides and something will have to give.

If he passes on a Universal HC system the way he did the "stimulus" package, without even reading or taking issues into consideration, his empire will crumble.

[Msaural]

Feb. 28, 2009 at 1:20 PM

The way I understand this is that they aren't really giving us anything additional.  The approximate $13.00 a week that we will see on paychecks is the result of a federal wage withholding tax cut.  Its still money that we have earned from our employer.  The Gov. is taking less out in taxes.