Just What We Need To Stimulate The Economy

  In a report released on Monday , the Treasury Department inspector general reported that 15 million tax payers could owe additional taxes when they file their 2009 tax returns.

  This is a result of Pres. Obama’s, Making Work Pay, tax credit. This tax credit was the carrot in Pres. Obama’s massive stimulus package that was enacted last February.

  The tax credit was made available through new withholding tables issued by the IRS. The new tables were intended to spread out the tax credit evenly over the year. The credit was intended to be four hundred dollars for individuals and eight hundred for married couples.

  However the tables don’t take into account individuals who have more than one job, the tables do not take into account couples who both work, nor do the tables take into account social security recipients who also earn taxable wages.

 According to J. Russell George, the Treasury inspector general, more than ten percent of all tax payers who file individual tax returns for 2009 could owe additional taxes. The inspector general also said that the tax credits are still available for 2010 and that the problems will continue if they are not solved.

 So thank you Mr. President. We really needed that tax credit, it was a great way to sell your stimulus package to the greedy uninformed among us. Just hold out that carrot of “FREE MONEY” and so many people went along for the ride. But there are no free rides.

 So at a time when we are beginning to see the smallest of improvements in the economy, but at a time when people need every dollar to pay the bills, the federal government will come along and say , “oh sorry did I do that?” “Oh well just give it back and all is forgiven”.

  In the way that this tax credit was given, it means that the money that we received has been spent . Now the government will demand payment in one lump sum. How many people have four or eight hundred dollars just lying around to help the government correct its mistakes? And to those who don’t , will there be the usual late penalties ?

 At a time when we are being told that the sky is falling , at a time when working people are being told that they will be expected to carry an even larger burden if health care is passed, at a time when the very future is in question due to the radical agenda of our current President, at a time when all of this and more is weighing on the minds of working people around the nation, this is the worst time for the government to do such a thing.

  The best thing the government could do in this case is to allow the mistake to just be corrected and to allow those who benefitted from it to keep the money.

 The last thing we need to do right now is to increase the burden on families and working people. That is no way to stimulate the economy Mr. President.


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