Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“A democracy is two wolves and a small lamb voting on what to have for dinner. Freedom under a constitutional republic is a well armed lamb contesting the vote.”     Benjamin Franklin

February 12, 2009

Thanks For Nothing, Mr. President

by Doug Mataconis

Remember Barack Obama’s promise to cut taxes for 95% of American workers ?

Well, it’s in the stimulus bill, but it doesn’t amount to much of anything:

Q: What are some of the tax breaks in the bill?

A: It includes Obama’s signature “Making Work Pay” tax credit for 95 percent of workers, though negotiators agreed to trim the credit to $400 a year instead of $500 — or $800 for married couples, cut from Obama’s original proposal of $1,000. It would begin showing up in most workers’ paychecks in June as an extra $13 a week in take-home pay, falling to about $8 a week next January.

Let’s be generous and say its $ 13 a week for the entire year.

Over a 52 week year, that amounts to $ 676.00 .

Barely enough to make a car payment for some people.

Not enough to cover rent for most.

And the mortgage ? Forget about it.

There is, however, one thing you’ll be able to buy with that $ 13 per week:

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Actually since, the shirt is $ 15.99 plus shipping and tax, you’ll need to use about two weeks worth of your tax cut to buy it.

But it’s worth it to make a point.

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2 Comments

  1. What about the power-house of the American economy? Those self employed individuals individuals that take a pay check whenever they make a profitable sale, say, once a month? Does that stimulus come when they file taxes NEXT April 15, 2010?

    Comment by Paul — February 12, 2009 @ 10:53 am
  2. Consciously or unconsciously, people who promote the highly powerful state are opposed to the bourgeoisie. Or, to quote Bill Cosby on taxes, they come for the regular folks first.

    To the poor, the self-employed are the rich. To the upper classes, they are lower class. Like the kulaks of the Ukraine, they are viewed as a good class to mulct, and none of the elite will shed a tear if their victims are destroyed in the process

    Comment by tarran — February 12, 2009 @ 1:26 pm

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