Did You Get Your Stimulus Check?
Friday, April 24th, 2009
The answer is yes. If you are a taxpaying American, you’re seeing a little over $9 extra show up on your paycheck each week. This is your stimulus check. And your promised tax deduction!
Let’s be honest. Will a minor decrease in withholdings really stimulate the economy when most Americans don’t even notice it? Even if you did realize you were getting the stimulus, does the extra nine bucks really make you want to go out and spend? Wouldn’t it make more sense to give us a fat check all at once like Bush did last year?
Which leads to another question. The withholdings deduction does add up to the $500 tax cut that Obama promised. But under Bush, taxpaying Americans received a tax rebate of $600 to $1200. By neglecting to renew these rebates, didn’t Obama actually raise our taxes?
The math really isn’t that complicated. However, it does take some calculus to see the big picture: the limit of taxes as Obama’s government expansion approaches infinity is equal to your paycheck.
Stay tuned for other ways that Obama will be raising your taxes.