I told you so!!

[Varmit]

For those of you who bought into Nobama's saying that he wasn't going to raise taxes...

http://finance.yahoo.com/news/INSIDE-WASHINGTON-Rude-apf-15091434.html?.v=1

I guess he didn't really raise taxes, but he isn't going to let you keep them either.  You would think that that MORON would have had his advisors go over this. 

[Diane Amberg]

We got a letter about this today.

[Wilma]

What was your letter about, Diane?  I had a letter, too, about the $250.00 I am supposed to get.  But if anyone thinks they are going to get it back by monkeying with the tax charts, it won't happen.  For a person who has no taxable income after the exemptions and deductions, there is nothing to apply a credit to and I already know that you can't take a credit from nothing.  Are they going to ask me to just simply mail the $250.00 back to them?

Besides this article was written by a reporter whose main purpose is to get attention.  If he is capable of interpreting the tax code, more power to him.  As to the individuals like you and me, it is our responsibility to see that enough is held out to cover what we are going to owe at the end of the year.  You can either have more held out in anticipation of a bigger refund or have less held out and expect to pay in more at the end of the year.  Trying for a balance is frustrating and would involve adjusting your withholding numerous times during the year.

If you are afraid that you will be asked for more money at the end of the year, have your withholding adjusted now so that there will be more withheld.  Don't accept the  apparent increase in your pay check.  Have it withheld so that it will already be paid in.  Or if you don't care, take the increase in the pay check, live it up and pay it back when asked to.

[Varmit]

This is just another example of Nobamas dishonest, underhanded way of governing.  he said he wasn't going to raise taxes, that he was giving a tax cut that would give taxpayers a larger paycheck, he just didn't say that they would have to pay that back.  So he really cut a thing.  Typical liberal.  I wonder how much was wasted setting up this little scheme?

[Diane Amberg]

 Wilma, Al and I both get small pension checks from the state of De. The letter was included. it explains the Making Work Pay business. IRS is the culpable one in this. There are new tax tables.   "The Office of Pensions is required to use these new tax tables even though pension plan distributions do not meet the IRS definition of "earned income" and most pensioners will NOT qualify for the Making Work Pay Credit."   In great big black letters it says,"while the new tables will increase your monthly net pay, they will also increase the likelihood that you will owe taxes and possible penalties at the end of the year." "Retirees who will not be eligible for the Making Work Pay credit are the most likely to be affected." Then it goes on to say to check with your tax preparer to see if you need to file a new withholding form or request more taxes to be taken out. Then there is a web site for us to use. It looks like we are going to be able to"borrow" our own money for a little longer. ( We pay quarterly as it is and don't have any withholding.) This letter really didn't have anything about the $250.00 coming later this month. Today's paper did have an article."The $250.00 payments are meant to provide a boost to those who don't qualify for the Making Pay Work tax credit." "However, they will go to retirees even if they have earned income and receive the credit." "Those retirees will have the $250.00 payment deducted from their tax credit - but not until they file their tax return next year, long after the money has been spent." So it is not a wind fall. I better save most of it.

[Varmit]

Diane, just who do you suppose told the IRS to implement this little scheme? 

[Wilma]

Do you think that Obama has had the time along with everything else he has done, to create an intricate, complicated addition to the Tax Laws.  The IRS can do that all by themselves.

And do you really believe anyone that says "no new taxes", "less taxes", or any of the other foolish things that campaigners promise to get your vote?  I didn't.  Do you believe that anyone can reduce taxes?

[Diane Amberg]

The IRS is perfectly capable of screwing it up all by themselves.

[Varmit]

  Do you believe that anyone can reduce taxes?

Yeah, I do. Regan did, that is how he turned the economy around.  It was Nobama that went around saying that he was going to give ""95% of Americans a tax cut"  now he's taking it back.

[Diane Amberg]

You skipped a couple of Presidents.   Now be fair, what did they say and what did they do?