the difference between a tax cut and tax credit

stolen from rush:

CALLER: I wanted to share quickly what I found out when I had my taxes prepared last week. The man that prepared my taxes for me cautioned me to watch out for my tax cut. He said, and you may want to adjust your withholding to take that back away, because the tax rate tables for next year when preparing taxes are not changing. So I could possibly owe my tax cut back to the government next year.

RUSH: You gotta be kidding. Not even I was aware of this trick. Say that again. They're not changing the rates, right?

CALLER: The tax rate tables that they use when you prepare your income tax.

RUSH: Yeah, these are not tax cuts.

CALLER: Right, exactly.

RUSH: These are transfer payments. These are tax credits and all that. There's no tax cut here. I should have been able to think of this on my own here, absolutely right. You're getting income, you're going to be taxed on it next year.

CALLER: Right. And we won't be able to pay it back $13 a week.

RUSH: 'Cause the same rates -- ah, man, your tax preparer is not only pretty smart but he's pretty forthright and honest with you on it. So what you are going to do?

CALLER: Change my withholding and take my tax cut away so I don't have to pay it back next year. Thank you, president, for nothing.

Obama is proposing to raise taxes on households earning over $250,000 by increasing the rate on the top two tax brackets and limiting deductions, starting in 2011. Republicans and other critics, knowing they will get little mileage from defending the rich, instead are casting the plan as a tax hit on people who run industrious little companies driving job growth. That's not likely, according to one in-depth analysis, which found that more than 95 percent of small business owners would be off the hook." The magical 95% number again, as in 95% of you are going to get a tax cut. Well, we just had a call, Gail in Lakeside, Arizona, and she just had her tax preparer do her 2008 income tax return, and her tax preparer warned her about the Obama tax cut that starts in April, where many of you ostensibly are going to see $13 more per week in your take-home pay. Withholding tables are being rewritten as we speak, so that when your employer gives you your first check in April you will see $13 a week additional in your net, and that reverts to $8 a week starting in January. Gail's tax preparer told her to be very careful because this really is not a tax cut because they are not adjusting the rates.


So the 13 additional dollars that many Americans will see in their paychecks is not the result of an income tax rate reduction. It's simply a tax credit. Even people who do not pay taxes will get this $13. She was told by her tax preparer if you take the $13 a month, that is additional income that you will be taxed on next year, in essence you'll have to give it back, because the rates are not being lowered and that will be called income. So there is no tax cut.

make sure you make your deduction change now so that you dont get hit next year paying the check. well you're going to get suck paying it no matter what. better to have it spread throughout the year, rather than pay it back in one lump sum. and yes, thank you president obama, for nothing!.

watch out for the FUDS!

as I mentioned in my last blog I found myself in a huge mess on one of my favorite web sites. you see, I was mistaken for a "troll". now a troll is a liberal blogger who goes onto conservative sites and " muddies" up the stream of comments. how can I have possibly been confused as a "troll". easy, I had a "dissenting" view. upon further review I noticed that there were self appointed and self annointed "troll hunters". these would spot the troll, identify the troll, then go after "it". I'm going to call these people "FUDS". no it is not an acronym, it is more like FUD, as in ELMER. ssshhh!, be vewy, vewy quiet, I'm hunting trolls. hehhehhehheh. unlike wabbit and duck season, hunting trolls is never out of season. it's a full time job and it even comes with a benefits package. no experience is required, training is available. basically if you can point and shoot a gun, you're a shoe in.no discretion needed, shoot first, ask questions later. so, happy hunting : )

friendly fire

damn people there is some serious shiznit going on out there in the blogosphere.I don't know if iwas just at the wrong place at the wrong time or these over zealous mofo's were actually out to get me.whatever it was it was a total clusterfuck for me.80% of me says wrong place wrong time.only because there was only really one other guy with a dissenting view.so maybe I was just lumped in the same category as him labeled as an enemy.but I didn't talk like that guy did so that makes the other 20% of me say yes,they were out to get me.and only because I held a different view than theirs.the funny part about all this was that there was more shit talked about my spelling sentence structure and punctuation than about my view.

as I went back and read the thread again it seemed like my antagonistic friends were somewhat conflicted.like they weren't really sure if I was who they made me out to be.which would explain why they never really went in for a kill.towards the end one did finally make up his mind and deemed me an enemy.but it's cool if you can't stir up any controversy than you're not doing your job right.I really felt sorry for the people who were trying to understand everything but got lost in the fray.

anyway I look forward to our next encounter who knows maybe we'll be on the same side of the issue.but if not...watch out for the fireworks.oh yea for what it's worth this goes out to my new friends.I do ALL my blogging and commenting from my iPhone and any with an iphone will tell you.it guesses words for you in case they are mid-spelled <----case in point mid instead of mis.I am not behind a computer I am really texting all my responses.so there you have it so now stop bitching so much about it.

AWOL

an army soldier who went AWOL January 6th was arrested in boulder Colorado thanks to a tip given to police.end of story,NOT!.you would think it is,but sadly it wasn't.the reported took it upon himself to take a shot at the soldier by reoprting that when he was booked,he had three pairs of panties in his pocket,and was wearing a thong underneath his boxers.

where did he get them,what was he doing with them?,the writer ask's.what is this world coming to,when a perfectly straight guy can't wear a thong?.I'm pretty sure he is straight,mainly because the writer would put himself in deep doodoo if this guy was gay.the activist would have been all over him for embarrasing him,ridiculing him,persecuting him,you name it.the bottom line is he would have been toast.also if he were gay,the writer would have attacked the army instead of the soldier.

this writer made the story more about the underwear he was wearing rather than him being AWOL.and to finish him off,he let the world know where he was stationed,what company,and brigade.can you smell lawsuit,defamation of character.I think it could stick.I don't believe that the boulder PD went out and gave a news conference just to tell you the guy was wearing a thong.which is somewhat what the writer said happened."upon booking,the police said he had three pairs of panties in his pocket,and was wearing a thong under his boxers".yep,that's totally relevant to the story.

do we really need?...

do we really need another awards show?,where pompous,arrogant,self-absorbed,ego-centric,sycophants showing America how beautiful and rich they are.if it were not for the minimum wage peasants that do all the "dirty work".there would be nonreason at all to watch.not that I do.I've never been one to fawn all over actors and actresses.to me,it's just another job.don't get me wrong,I don't mind rewarding success,but all these different awards for the same people is overkill.what is it that goes through the minds of the people that have to watch live,or set their dvr's,TiVo's,and still VHS'.can someone please explain this to me.

my problem with Hollywood is their political activism,and that they actually believe they are larger than life.that they actually "become" some of the characters they play.now at this award night,most,if not all the "participants" will be wearing white ribbons in support of gay marriage.there is no shame in their game.use whatever or whoever to further your cause.to willingly shove their activism down the throats of the viewers,shows a debth of contempt that is uncalculable.their arrogance is not without merit,still,many people will still watch,those who are on the other side poitically.why,not because they are sado-masochist's,but because they can seperate themselves from their politics.something that Hollywood is unable,or unwilling to do.

rise from the ashes !

I witnessed something I believed to be mythical.the re-birth of the dead? MSM.like a phoenix that rises from it's ashes,so is the MSM.the MSM was vital in getting Barak Obama elected.but how was this done?.if you listen to talk radio,"objective journalism" is no longer alive.that might be so,but what is in it's place,could be far worse.witness the birth of "entertainment news".the equivalent of talk radio.when you look at things from the entertainment angle,which is talk radio.

rush,hannity,levin are "entertainers".they take the news of the day and comment on them.the better you are,the more listeners you get,the more you make.it truly is an open and free market.

it doesn't matter how you re-package,re-invent shit,it's still shit,and people won't buy it.which is why "progressive" radio is a complete failure.which begs the question,why bring back the "fairness doctrine",in any form.don't forget,the MSM were a major factor in obama's election.with millions less viewers,than listeners on radio to boot.rush,hannity,levin,combined,have about 50 million listeners.the viewing audience for these televised shows is considerably less.so has the tide turned,is the shoe on the other foot?.what is talk radio going to do,to be more competative in this industry.it seems the student has now become the master.in a perfect world,this would be a good thing.but last time I checked,this world is far from perfect.which means that the democrats will still go forward with some form of the "fairness doctrine".because as we all know,it's never been about fairness or equality,but domination.it is about squashing alternative opinions.

where did the help come from?

by now,you might have heard the name "henrietta Hughes".she is the homeless woman who not only managed to make it,get into,she was able to ask Obama a question.I'm paraphrasing...I'm homeless and all I want is a small house with a small kitchen and my own bathroom.so Obama tells her to get in touch with his peeps after the meeting.he was going to help her out.

well,she got a house.not from Obama or any democrat organization,or policy.no,she got help from a REPUBLICAN!!!.the wife of republican.Illinois state representative nick Thompson.she offered Hughes a home to stay in "rent free" for as long as she needs it.every news report out there fails to report this.rather,they "infer" that it was an Obama policy,or that it was the "democrats" that helped her.

aren't there enough...

>aren't there enough "rich liberals" out there with enough guilt to pay for every liberal program out there?.why does the government need my money to fund their liberal projects.it's no great secret,this guilt that the rich have.why they look for all the "social" causes to champion.maybe it's crocodile guilt,they feel guilty,just not enough to part with any of their money.democrat john Kerry insists that the taxpayer get no stimulus money." they won't spend it the right way,on the right things".yea,we would spend it on stupid things like food,or paying off some debt,possibly even buying a car.you know irresponsible things like that.Kerry believes that if you get government money,government should have a say on how you spend it.they're doing it with the banks,what makes you think that you're special.seriously though,with all the money out there between the soro's,geffen's,spielberg's,Hollywood,and the entertainment biz,why can't all their causes be fully funded by them.let me have mine,and we'll all be just fine.


like they say in jail..."bend over a crack 'em!.
california's got a budget,and Californian's got screwed!.yep,that breeze you're feeling is your skirt being lifted,and your panties pulled down.
sales tax went from 8.25-9.75
gas tax from .18-.30 cents per gal.(add 9.75% sales tax on top).
registration fees just doubled.
there is also a "luxury tax" for lack of a better word.being a higher than 9.75% tax on big items like cars,houses.
there was other stuff,but I forgot.and you wonder why soo many people are leaving the state and taking up residence somewhere else.even the "illegal aliens" are leaving.why in the world are californian's not asking for schwarzenneger's head!?!.villaraigosa's also for that matter.we recalled Davis because of his registration tax,this idiot has screwed us much worse.villaraigosa is doing the same thing to the city of L.A.

Hollywood activism

today LA times,Hollywood rejoicing after Obama statement that he would reverse bush's ban on GOV. FUNDED embryonic stem cell research.producer jerry zucker and wife,along with other Hollywood elites say "finally!,science is legal again".I never knew so many people can be so utterly ignorant."science" was never illegal,embryonic stem cell research showed absolutely no promise at this time.adult stem cell research yielded better results.if there was promise in ESC research than let the private market fund it,not the federal government.that was bush's policy.this is nothing more than the same Hollywood liberals who believe in abortion for any cause who want nothing more than "cloning" of human life.this is what it is all about.no value human life grown in a lab,then killed for research.all in the name of "science".these hypocrites cry bloody murder when companies do "research" on animals,raise livestock and chickens for food,yet not even a whimper comes out of their collective mouths when it comes to butchering millions upon millions of babies.in just two weeks in office,Obama has signed legislation,closing gitmo,funding abortion around the world and we can now add funding of babies farms for the sole purpose of eradicating their lives.

redonkulus!

as all the leaders of the works gathered this past weekend in Davos switzerland.one thing remained the same.the world's hatred of the united states.we were again bashed,not just by the loonies from the soviet union and china,but also from our other so called friends.France was saying that the Obama administration was engaging in "protectionist" policies.which is true,only here we call it "socialism".another leader said "just because GM has a new CEO,doesn't mean were all going to go out and by their cars".refering to the Obama administration.

translation:just because Obama is president now,don't think we all accept you (America).we still hate you.throughout his campaign,Obama apologized for America.claiming it was bush and his "cowboy diplomacy" as why the world hated us.Obama ripped America when he stumped in Germany.and it was the Germans ripping us at this summit!.I hate repeating this,not only because it is redundant.but it has a sense of mantra to it.but it bears repeating.we were sold a bill of goods with Obama.part of it being that the world would no longer hate us if he was elected.you know,the whole messiah thing.Obama got elected,and the world still hates us,the sea levels haven't receeded,the earth hasn't cooled,the economy has not been fixed,our mortgages haven't been paid,our tanks filled with gas,bills paid,poverty abolished,sicknesses healed,racism stopped.this messiah sucks!.good thing I believe in the real messiah,Jesus Christ!.I hope some of those messiah colored glasses are coming off now,and people are beginning to see this guy for the phony he is.