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The Mythical "Obama Tax Cut"

This article first appeared on Oct 22, 2010.

Almost everyone has undoubtedly heard the newest spin coming from the daily liberal talking points – pronouncements of the "Obama Tax Cuts" about which they decided not to tell us.  To hear PrezBO’s shills, the administration (for our own good) enacted this "tax cut" months ago, but (in a departure from their typical credit-taking, blame-shifting media circus) made the political decision not to tell American’s with the expectation that taxpayers would spend the money "if they were unaware they were getting it".  On top of this outright spin, they claim martyrdom for the fact that Americans "do not know" about this supposed tax cut due to their "selfless" actions to put America’s economy ahead of their own political advantage.

In the light of reality, these claims are laughable on so many levels that the liberals shilling them strain any measure of credibility.

  1. Anyone who thinks this administration would put America’s economy ahead of their own political acquisition of power has apparently been living under a rock for the last 3-4 years.  During the campaign, the liberal media colluded with PrezBO’s campaign to such a point that they were effectively a PR extension of it.  During the campaign, these shills abandoned all pretense of objectivity early on and we have seen nothing to lead us to believe that they have any plans to regain any modicum of fairness and balance in the arena of ideas.  Transitioning to a Presidential administration, PrezBO and his minions have been laser-focused on taking credit where none is deserved and trying to transfer blame to others for their own failed policies.
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  3. To the topic at hand, the alleged "Obama Tax Cut" that "we don’t know about" is a joke.  Any talking head who shills this spin is either completely clueless or abject liars!  To hear the spin, PrezBO and his administration gave American’s a "tax cut" that is delivered via changes to withholding schedules in their paychecks as opposed to one-time "stimulus" checks like those from the Bush years.  The REALITY is that the administration did change withholding schedules, but there was no change to TAX LIABILITY!

 

For those liberals unable to do simple math, changes to withholding affect the amount of take-home pay on one’s check.  Most Americans who get a tax refund today are unfortunately allowing the federal government to hold THEIR money throughout the year INTEREST-FREE until such time as their file their taxes and get a refund of THEIR money.  These Americans are OVERPAYING their taxes.  These changes to the withholding schedules will shrink the amount of overpayments so that Americans will simply not get refund checks as large as they would have.  
Your taxes are not lower – the changes to the withholding schedules just minimizes your overpayments!  

If you are one of the financially astute Americans who actually correctly declare on your W-2 (so as to get no refund), you will actually OWE a tax liability.  With good financial planning and management, Americans could have always done for themselves what PrezBO is now taking credit for his administration!
 
As always remember: Truth, History, and Common Sense refute Liberalism!