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So much for the 'stimulus' If you are a retiree, you recently received an "increase" in your retired pay from the Kenyan's administration. If you looked closely, though, you found that it was simply a reduction in your tax withholding. But before you go spending this windfall gift from the government, think about this: I called and asked if this change represented a reduction in my tax liability for 2009 and was told it wasn't. So, come next April, you will get an unpleasant surprise. You will still be required to pay the taxes you would have paid had your federal income tax withholding not been lowered. Be prepared to owe the government the amount of your reduction times 8 (the number of months it will be reduced). This little bit of trickery comes to you courtesy of our Democrat majority and Obama, the Kenya Kid, under the guise of "economic stimulus." If you want to avoid the "April Surprise," you have three options: a) file a W4 form and reinstate your original withholding amount (you still will probably owe at least one month's "reduction," since it will take them awhile to change it back); b) put it in a savings account so it can draw a little interest until you pay it back in April; or c) spend it in hopes that the Kenya Kid will give you more money before you pay it back next April. The operative words are "pay it."
So much for the "stimulus" that you are going to pay to yourself. The only stimulus for me was to stimulate me to replace every Democrat at the next elections, with the hope of putting a crimp in the Kenya Kid's plot in the near term, and changing Obama back to street activist in the long term! |
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