Saturday, February 21, 2009

Your Weekly Address: Obama Celebrates $8 Tax Cuts As Though It's The Greatest Legislation In US History

This guy is really getting on my nerves. Seriously. Enjoy your 8 bucks.

New plan: Everyone mail 8 dollars to the White House with a note telling the President where he can shove his "tax cut".

Check out how the AP celebrates this as well.

It took only weeks for the notoriously slow Congress to pass the $787 billion economic stimulus package. President Barack Obama signed it into law less than one month into his presidency.

So when should most people hope to start seeing the benefits of tax cuts in it? By April 1, according to the president.

Oh my gosh! Obama has already improved the efficiency of Congress! He's that good!

"Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans," Obama said Saturday in his weekly radio and Internet address.

The president said his signature two-year "Making Work Pay" tax break will affect 95 percent of working families, and, in six weeks' time, a typical family will start taking home at least $65 more every month.

Thanks boss! $13 a week! Lotta Money! But he doesn't really want you to actually go to work.

Taxpayers won't get a separate check mailed to them like many did with last year's one-time payment designed by the Bush administration to help boost the economy.

Instead, Obama's credit — up to $400 credit for individuals and up to $800 credit for married couples — is to be doled out through the rest of the year through paychecks. Most workers are to see about a $13 per week increase in their take-home pay. In 2010, the credit would be about $7.70 a week, if it is spread over the entire year.

$7.70 a week! Enjoy! Of course, don't forget that you don't actually have to pay taxes to get a "tax cut"!

People who do not earn enough money to owe income taxes are eligible for the credit, an attempt to offset the payroll taxes they pay.

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