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Today's Nuze

"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."

Ayn Rand

Nobody's listening.

DOING WONDERS FOR OUR ECONOMY

By
Neal Boortz
@ April 2, 2009 9:23 AM Permalink | Comments (41) | TrackBacks (0)

As of yesterday's Barack Obama's miraculous tax credits began showing up in people's paychecks. How are you enjoying that extra $10? Are you going to use it to buy a pack of cigarettes? Or some new wheels for your house? With an extra $10 a week .. I'm sure that a lot of entrepreneurs are going to go out there and start creating jobs and businesses to get our economy going again.

For some people these are actually tax cuts. For SOME. For most of the people, however, they are handouts. When the final accounting is done this will be money that was taken away from one worker - who actually paid federal income taxes --- and given to another --- who pays none. This is ObamaTalk for a "tax cut."

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What others are saying

  • Tax cut
    No change to my check. Where is this huge tax cut?
    By Mafuta54 @ 04/03/09 06:59:11 AMreport abuse
  • Sorry for Not one of the Lucky
    Hey, "Not one of the Lucky"
    that's weird that your paycheck went down with a "tax cut". Sorry to hear about that. You should talk to HR dept.

    good luck.

    for the record, I wish they'd eleminate the Fed Tax for 1 year plan...much better than $100 bucks a month for me for sure.
    By Jbb @ 04/03/09 01:36:10 AMreport abuse
  • Tax "cuts" in California
    Sorry, but my state took my tax "cut" in 1% hike in the sales tax signed into law by our RINO Gov.
    By Occam's Razor @ 04/03/09 12:42:38 AMreport abuse
  • Yeah
    Well seeing my hours got cut at work because our competition figured out using "undocumented workers" makes them more competitive, some of that $10 will go to offset lost hours.

    My electric company recently got permission to raise rates. Some of that $10 will offset that.

    My insurance rates got raised as did everyone else's in this state. Some of that $10 will offset that.

    My property taxes went up again, as they do every year. Some of that $10 will offset that.

    My school taxes went up again this year,as they do every year. Some of that $10 will offset that.

    My water bill doubled this year due to a "usage tax." Some of that $10 will offset that.

    If my math skills are as good as Timothy Geithner, I may still have some money left over from that $10 to help "stimulate the economy."
    By Scott @ 04/02/09 10:06:20 PMreport abuse
  • Stimulus
    My husband and I used our first stimulus bucks to buy 2 copies of "Liberty and Tyranny". I hope El Presidente Obama approves :)
    By Terri @ 04/02/09 08:49:50 PMreport abuse
  • Not a true tax cut
    It is my understanding that this is not a tax cut, but a change in withholding. This means you still will owe taxes on this money at the same rate as before Obama "gave" us some of our money back. All you are doing is moving this money from withholding to what you will need to pay next April. The money is STILL taxable -- you are just delaying when you send the money to the government. So, some of you who think you are getting a windfall will get a surprise next April when you owe money...
    By Renee @ 04/02/09 07:49:34 PMreport abuse
  • taxes
    I am a retired Marine and a civil service employee. Just got a small bonus for the outstanding work I did over the bast year, out of $960, the gov't took back $346 and some change. due to the bonus I am not sure what tax gain I get from the Presidents plan. I did read in an article that if you are receiving Railroad pension, Social Security, or VA compensation, you will get not tax benefit from this plan. As a retired Marine, I get some (very little) VA compensation for injuries I received over 22 years. So.... I am curious to see exactly how the Presidents Tax plan will help me,


    Welcome to the Obama-nation.
    By flm @ 04/02/09 04:45:32 PMreport abuse
  • No Difference
    I see a lot of misconceptions. First, for the dozen or so who misunderstand this new withholding, NO, you do not need to "pay it back" at the end of the year. The withholding tables were adjusted to refect the tax "credit" you will receive on April 15th 2010.

    This "should" equate to about $20/week for most married couples and $10/week for single filers.

    Practically speaking, President Obama's tax credit is no different from President Bush's a year ago except that it is being enacted slowly through the tax code throughout the year rather than as a one-time handout. I'm not happy with either "credit", but you're being hypocritical if you supported one president's handout over the other's.

    That said, I do have to confess that I'm a bit baffled. I received an extra $40 in my WEEKLY paycheck. A co-worker got an extra $50 in his. That is about double what my tax credit SHOULD be.
    By KL @ 04/02/09 04:32:07 PMreport abuse
  • I'm Getting more than $10
    My tax reduction is $65 per month...add my wife's and it will prob be close to $100 per mo.

    Not sure where Neal is getting $10 from...are you people really looking at your check stub?

    Of course, I'd rather have 0% tax for 1 year instead of this spendulous bill...that would be $20k for us this year.
    By Jbb @ 04/02/09 04:09:51 PMreport abuse
  • Hey JBB, thats great that you and your wife is getting 100 a month
    Wow, JBB. That is great that you are getting that. I just checked my pay check and it went DOWN. My wife and I are FAR from being rich!

    I didn't vote for Obama either and I am not getting ANYTHING from him but screwed.
    By Not one of the lucky @ 04/02/09 03:14:52 PMreport abuse
  • "Tax cut"
    Well, I'm self-employed (no taxes withheld), and my husband's job went poof in January. No "change" for this family. Thanks, D'ohbama!
    By Forked @ 04/02/09 03:08:02 PMreport abuse
  • The Tax Cut Lie
    No change in my check,and I don't make six figures so that filthy rich range must have been expanded way beyond the 5%. Another lie from the den of thieves in Washington. Anyone want to buy my vote? Not worth much any more.
    By Gary @ 04/02/09 02:32:48 PMreport abuse
  • Tax cut (?)
    I'm using half of my weekly tax cut for emergency food and nonconsumables, not to mention a little ammo. I predicd things will get worse in the US.
    By Ken @ 04/02/09 02:21:59 PMreport abuse
  • "Payraise"
    Well, it is worth $60/month now.

    I guess I have to pay it back at the end of the year, right?
    By Someone @ 04/02/09 02:11:02 PMreport abuse
  • Tax Cut
    Since I am one of the 50% that pays federal income taxes, I was happy to see more money in my paycheck.

    I am happy to be keeping more of what I earned.

    There is an argument that this form of "stimulus" does more good than a lump sum payment.
    By Sam @ 04/02/09 01:34:40 PMreport abuse
  • Witholding change vs tax rebate / cut vs tarp vs bonus
    Call it what you want. The IRS is going to take it back on 4/15/10 just like they took back AIG bonuses. There's going to be folks a many that don't know that (the dumb masses) and won't be able to cover their tax bill in 2010. Then what MR. OBAMA?
    By JoeShmoe @ 04/02/09 01:26:10 PMreport abuse
  • Tax cuts
    Didn't see any changes after completing next weeks payroll in Quickbooks with the new tax tables. My folks must be rich and not qualify. I'm sure they are since they didn't get stimulus checks either, not even a KMA letter!
    David needs remedial math. A 4.5% rate increase from 35% to 39.5 is only a measly $225 a week (on $5,000) or $900 a month. Almost enough to pay the rental on Charlie Rangles Caddy De Ville.
    By Bob @ 04/02/09 01:05:40 PMreport abuse
  • $10 "tax cut"
    You need to look outside the box...so what if it a increase of only $10 in your paycheck - and it is not going to have any effect on your daily lifestyle...forget you got that money and take it and put it in a sock. Before December 31st, open a college saving account for your child with a compounding interest (then you can even deduct the extra $10 you got in each paycheck) do this for the next 18 years and voila - you might have even saved enough money to assist your child with their college tuition.
    By Kris Akin @ 04/02/09 01:03:54 PMreport abuse
  • tax cuts?
    I must be one of those 5% who are unaffected, because my paycheck stayed the same. Gee, I don't feel like one of the filthy rich. What am I doing wrong? Oh yeah, I work, pay my bills on time, and cling to my guns and religion. How did the government find me so fast?
    By rebelyell @ 04/02/09 12:04:44 PMreport abuse
  • Tax 'cut', 'credit', whatever
    If we continue to allow the imperial federal government to continue on this path, we may all be living in homes on wheels, whether we want to or not, just so we can hook up and flee these tyrants for a time.....
    By tfansler @ 04/02/09 11:48:02 AMreport abuse
  • "TAX Cut"
    Since $10 a week is such a Joke and not worth much why is it a big deal if you tax people making 5K a week an extra $25 a week?
    By David @ 04/02/09 11:36:57 AMreport abuse
  • Look at your paycheck
    I'm no Obama supporter...but the Neal listeners need to use their own brains instead of blindly folling Boortz's claims...like he says, verify what he says, sometimes he LIES!

    My check today shows $30 less Fed tax. That's $65.10 per mo.
    Add my wife's and we'll probably total $100 a month tax reduction.

    People getting $10 reduction probably don't even know who Neal Boortz is.

    For the record: Won't be 'spending' it, will be paying bills.
    By Jbb @ 04/02/09 11:26:14 AMreport abuse
  • Tax reduction
    O.M.G. This is almost 1/2 of a tank of gasoline a month . ( if the price remains the same ???? )Thanks BRO Obama.
    By Thomas Adkins @ 04/02/09 11:25:26 AMreport abuse
  • Tax "cut"
    Well, I guess those that are retired do not qualify for this so-called tax cut.I get paid once a month.They take income taxes out on me, so why do I not get one?
    Another lie by the big goober I suppose.
    "95% of taxpayers making less than $250,000 will see a tax cut".Guess I am in the 5% that will pay for his incompetent management.
    By mailman @ 04/02/09 11:19:23 AMreport abuse
  • $13 per week? What a joke
    I explained to my employees yesterday that this wasn't a raise, but merely a reduction in federal withholding taxes that will last through December. They didn't seem to grasp that they will have to give it all back anyway when they file.

    More than ever, I'm absolutely convinced that the average American understands nothing at all about what is happening to them...Neal, you hit it on the head when you refer to gov't-educated people as "dumb masses". The teacher's unions have created an entire generation of idiots-otherwise known as democratic voters.
    By $mooth Operator @ 04/02/09 11:19:17 AMreport abuse
  • Offset
    You know, that $10 extra dollars a week will just about offset the increase in cigarette tax. At least the smokers' budgets remained balanced.
    By 2 Dolla @ 04/02/09 11:14:43 AMreport abuse
  • My Stimulus Money
    Remember when Michelle Obama made fun of President Bush's $600 stimulus check, saying you could buy a pair of earrings with it? Well, under her husband's plan, I'll have to put my earrings on layaway.
    By That Woman in Kansas @ 04/02/09 11:06:17 AMreport abuse
  • House Trailer Wheels
    I have a trailer I use to haul things on the farm. It uses house trailer wheels. New tires cost $75 each -- I'm buying 2 today. It'd take me 15 months to pay for these tires at $10 a month. But hey, I'm happy any time those thieves in DC leave me with a little more of my hard earned money.
    By Corbett @ 04/02/09 10:33:56 AMreport abuse
  • Awesome!
    There are some pretty good game on the Playstation Network for under $10...

    Oh darn, looks like Jojo the Hobo down the street got to my 'tax cut' before I did. Guess I won't be supporting independent developers this paycheck.
    By Josh Y @ 04/02/09 10:30:56 AMreport abuse
  • Just call me Eyore
    I noticed a slight increase in my takehome, slightly. As has become custom, I begin warming up my right hand to fill out that check I write to the IRS every year without fail. Tax cut? Really? I'm going back to work now. Let me know how that 'tax cut' thing works out. The next time I notice a change will be about the time I figure out that I have to pay more because my withholding wasn't sufficient even though it was double digit. Obama's report card isn't looking so good to people who actually pay into the system as opposed to the ones who siphon out of it.
    By Chuck @ 04/02/09 10:29:02 AMreport abuse
  • Change I can believe in
    You gotta hand it to the president. He brought real change I can believe in. Roughly about 40 quarters.
    By Hurricane @ 04/02/09 10:25:18 AMreport abuse
  • that extra $10
    Now I can buy some more "Impeach Obama" material.
    By Laughing @ 04/02/09 09:54:37 AMreport abuse
  • Tax Credit....Get ready to pay for it...
    Get ready to pay for it...because the new Wage Withholding tax changes may place some taxpayers in a slightly “under withheld” situation by the end of 2009. So if you don't change your W4 withholding you may end up paying more taxes when you file next year. Some of the situations where this could apply are: Married couples with both spouses earning wages, people working for multiple employers at the same time and retirees receiving (or will receive) a pension in 2009.

    Gee, thanks for the measly $10 or so Obama. One way or another you will stick it to the american taxpayers, while you waste our money hand over fist. I still want to know who is footing the bill for your "friend", so you can have someone to play basketball with while you are at the G20 meetings? I wonder how many other world leaders brought 500+ people with them to this meeting? It's a good thing your not one of those evil CEO's who waste taxpayers money. Then you could send your lap dogs (congress and acorn) after them.
    By Rick @ 04/02/09 09:54:33 AMreport abuse
  • Y/E
    I just hope he doesn't take it back at the end of the year.
    By Dave @ 04/02/09 09:51:35 AMreport abuse
  • Wonders For Our Economy
    Speculation that everyone who receives breaks on their taxes "buy a pack of cigarettes" is a bit insulting to those of us who work hard and pay taxes. Some of us have class.

    That's why I spent mine on Bud Light.
    By Randy @ 04/02/09 09:50:33 AMreport abuse
  • Frustrated
    I got the tax credit on my paycheck this month (my job pays monthly) and was confused for a while about why it was different than usual... obviously I wasn't really anticipating that tax credit all that much! But the part I am frustrated about is that I am not actually eligible for it... my fulltime job pays much less than the $75,000 cap, but all of my freelance work (an extra 40-50 hours a week on top of the fulltime job) pushes me over that by a significant amount. So now what, I have to sit on this money and hand it back on my 2009 taxes? I didn't have a choice in my withholding changing... just a major inconvenience now.
    By Michelle @ 04/02/09 09:45:42 AMreport abuse
  • So-Called Tax Credit Already In Effect
    Actually, the IRS forwarded revised withholding tables roughly a month ago, incorporating the "Making Work Pay" sham into the rates. Have had two paychecks with the Obamabonus since (3/13 and 3/27).
    By Lance @ 04/02/09 09:42:26 AMreport abuse
  • Not a cut a withholding change
    This isn't a tax cut it is a withholding change. Please stop calling it a tax cut.
    By Mike @ 04/02/09 09:38:21 AMreport abuse
  • Change
    We axed for change - now we gonna git it - yessah!
    By Jerome @ 04/02/09 09:32:02 AMreport abuse
  • Same as the Bush handouts
    these are the same thing as the Bush handouts. I wasnt eligible for them, but I know my friend got a wii w/ that.
    By Stan Gable @ 04/02/09 09:30:26 AMreport abuse
  • Tax Break
    Well, since my company is taking 5% away from all salaries and an additional 10% this month from select employees (read- me), I think my tax break won't do squat by my calculations.
    By Matt @ 04/02/09 09:27:58 AMreport abuse
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