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The Tax Cut Nobody Heard Of
3 years ago  ::  Oct 20, 2010 - 11:19AM #1
Posts: 277

 


Thought this was an interesting piece.


www.nytimes.com/2010/10/19/us/politics/1...

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3 years ago  ::  Oct 20, 2010 - 1:26PM #2
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The article is deceptive in that they do not tell you that you paid that money back when you filed for income tax!!! The sad fact is, it was such an insignificant amount to begin with, but then they went and took it back! I posted about this last year before tax time, but no one seemed to care.


If he repeals the Bush tax cuts, they say that the average family will pay about $2100.00 more per year in income tax. This of course does not include all of the hidden taxes that are being, or have been placed on us already (i.e Soda, tanning, cigarettes, etc) CAP and Trade, and the insurance premiums going up as planned by Obama and the insurance companies. I just hope when the Republicans regain control, that they will do what they are promising. When and if that happens, I pray that Obama will do what Bill Clinton did, and actually listen to, and work with Republicans. I have a feeling, however, that he'll veto every blessed thing they put in front of him, then come election time, they'll all cry that it's the Republican controlled W.H. that made it this way.


What is most disgusting about the article is that they say that the reason no one knew about the taxes was because it was "designed that way". Yeah right!! Every time you turned on the radio or T.V. there was Obama "Now let me be clear, I've cut taxes for 95% of Amercians. Americans are seeing more money in their paychecks every week..." This is why so many people got furious with him. We weren't feeling the $17.00 per week making a difference. When we found out he was going to spring it on us at incomtax time, to pay it back... then we were beyond mad.

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3 years ago  ::  Oct 21, 2010 - 1:11PM #3
Posts: 5

Here's some more info on it.  It actually was about $7.50 per week!  Whew!  Why did we not feel that?  But yes, every time you looked at him he was telling us he cut taxes for 95% of us.LOL


blogs.forbes.com/brianwingfield/2010/10/...


Quote:Why has nobody noticed it? It hasn’t been that significant–about $15 per paycheck, for individuals who get paid every other week. (It phases out for people making more than $75,000.) For many, it’s been offset by rising taxes elsewhere or commodity prices. Moreover, since February 2009, when the stimulus bill was passed, unemployment has risen from 8.2% to 9.6%. A year ago, it topped out at 10.1%.

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