Oh yes we forgot. He gave an totally insignificant and meaningless one time tax credit of $ 400 a year, $ 8 a week, for people making $ 75,000 or less. But at the same time he is going to let the Bush tax cuts expire in the end of 2010 and therefore almost all tax payers will be paying much more in taxes icluding those making $ 75,000 or less. He is going to impose a one trillion dollars "Cap and Trade" tax increase which will double the bill amount that people are paying for energy. He already wasted 4 trillions dollars in his first 3 momths in office which will not only triple the defict and the national debt but also will impose the largest tax increase on people in the last 60 years.
I received that “tax cut” in my paycheck, along with a note from our payroll expert that we might wish to readjust our withholding, as this “tax cut” would be counted as income when filing next year’s taxes. You see, this was not a tax cut, but a reduction in the rate of withholding. THE TAX RATES WERE NOT CHANGED, thus the “rebate” will count as income. Had my husband and I not submitted a new W2 with fewer deductions, we risked not having enough withheld, and would probably be fined and penalized. Revenue trick? Or just more slick smoke and mirrors?