Your paycheck is about to shrink

[Sarge]

If you make less than a quarter-million dollars a year, which includes 98 percent of small-business owners, you won’t see your taxes increase one single dime. Not your payroll taxes, not your income taxes, not your capital gains taxes, nothing.

Barack Obama, Londonderry, New Hampshire, October 16, 2008:


CHANGE!!!!!!!!!!!!!!

Suckers

http://money.cnn.com/2010/11/24/pf/taxes/making_work_pay/index.htm?hpt=T2


NEW YORK (CNNMoney.com) -- Are you ready to give up $30 a month?

That's what may come out of your paycheck if -- as expected -- the Making Work Pay tax credit expires at the end of the year.

The credit was enacted last year as part of the Recovery Act to put more cash in people's pockets. For the past two years, it has boosted paychecks by up to $400 for single filers and $800 for joint filers by reducing the tax withheld and giving a credit for that amount. That's $33 or $67 a month.

Taxpayers who make $75,000 or less are eligible for the full credit, while higher earners can receive partial credit. More than 90% of working Americans have been helped by the tax break.

 

[Lanky Livingston]

The credit was enacted last year as part of the Recovery Act to put more cash in people's pockets.

LOL. I guess a tax cut/credit INTRODUCED BY OBAMA expiring counts as a tax-increase by Obama these days? Wow...the right is reeeeeaaallly reaching.

 

[Sarge]

It sure was nice of him to give me some of MY money back. Now he's going to take it again

 

[fansince62]

If you make less than a quarter-million dollars a year, which includes 98 percent of small-business owners, you won’t see your taxes increase one single dime. Not your payroll taxes, not your income taxes, not your capital gains taxes, nothing.

Barack Obama, Londonderry, New Hampshire, October 16, 2008:


CHANGE!!!!!!!!!!!!!!

Suckers

http://money.cnn.com/2010/11/24/pf/taxes/making_work_pay/index.htm?hpt=T2


NEW YORK (CNNMoney.com) -- Are you ready to give up $30 a month?

That's what may come out of your paycheck if -- as expected -- the Making Work Pay tax credit expires at the end of the year.

The credit was enacted last year as part of the Recovery Act to put more cash in people's pockets. For the past two years, it has boosted paychecks by up to $400 for single filers and $800 for joint filers by reducing the tax withheld and giving a credit for that amount. That's $33 or $67 a month.

Taxpayers who make $75,000 or less are eligible for the full credit, while higher earners can receive partial credit. More than 90% of working Americans have been helped by the tax break.

taxes have already been raised (take a look at your phone bill some time). wait until the VAT hits! Liberal virtue has a cost and will need to be paid for. but don't forget...it's the government's money: a tax reduction is not a return to you or me of what we earned...it is a loss for the government.

 

[Lanky Livingston]

My head is spinning from your illogical response, Sarge. First, you list a quote from Obama in 2008. Then you post a link about a tax credit, introduced by Obama LAST YEAR (aka 2009, after that quote), that is set to expire, and you rag on Obama for increasing taxes and imply that he's a liar.

Basic logical deduction tells us if Obama introduced the credit and now its expiring, your income will be the exact same as before he entered office.
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[Sarge]

It's very simple. A tax cut expires. That is a tax INCREASE. Just like the Bush tax cuts. If they expire, it's an increase. Obama was good enough to let us keep our beer money for a year. Now he deems we can't have our beer money anymore. That means less money in our pockets.

 

[fansince62]

My head is spinning from your illogical response, Sarge. First, you list a quote from Obama in 2008. Then you post a link about a tax credit, introduced by Obama LAST YEAR (aka 2009, after that quote), that is set to expire, and you rag on Obama for increasing taxes and imply that he's a liar.

Basic logical deduction tells us if Obama introduced the credit and now its expiring, your income will be the exact same as before he entered office.
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obviously not if his wages/salary changed...ceteris paribus....or he became one of the victims of Obama's stimulous slush fund...aka the magical 8 ceiling....in which case he is receiving unemployment insurance in perpetuity but not his former salary. as noted previously...many commodity taxes have risen and the health care bill has a whole slew of tax increases waiting for a public eager to pay for Obama's popular transformational vision!

and young folks? what a deal! they get to pay for a tripling..perhaps quadrupling of the deficit! (in just two years!)

this guy has been magic for the economy and all our standards of living...no doubt about it. he's brilliant. everything he touches turns to gold!

we can get to the real argument later: whether tax credits or changes to marginal tax rates are the best way to stimulate growth...that is what Mr obama wants to do right? even if the results thus far indicate otherwise.