Congress Tinkers with Withholding Tax Tables for 2010
"After much investigating and several discussions with the IRS, it appears the Democrats have played a “cash-flow trick” on working Americans and are taking more out of American’s paychecks across the board–all the while touting the Making Work Pay tax credit."
Rest at link - I highly recommend everyone read the whole thing.
This morning on FOX News they had a segment on Obama welfare cell phones. That universal tax you see on your phone bill is helping to fund the $1 BILLION dollar tab to provide "fee" cell phones welfare recipients along with 70 free minutes per month. I was writing fast, but I believe that's the numbers.
It's called redistribution of wealth. I prefer to simply call it stealing the fruits of one person's labor against their will to give to someone who did not work for it.
California to withhold a bigger chunk of paychecks
The amount goes up 10% on Sunday as Sacramento borrows from taxpayers. Technically, it's not an income tax increase: You'll get the money back eventually.
SACRAMENTO AND LOS ANGELES — "Starting Sunday, cash-strapped California will dig deeper into the pocketbooks of wage earners -- holding back 10% more than it already does in state income taxes just as the biggest shopping season of the year kicks into gear.
"Technically, it's not a tax increase, even though it may feel like one when your next paycheck arrives. As part of a bundle of budget patches adopted in the summer, the state is taking more money now in withholding, even though workers' annual tax bills won't change."
Well, fiddly dee. Who needs that extra 10% from your paycheck to buy food today, buy gas to get to work today or pay your heating bill today? After all, six months from now, you MIGHT get it back.
Demand Congress stop withholding taxes now
If you haven't read this testimony yet, withholding was openly referred to as a "scheme" - this is from the lower 1/3rd at this link:
Declassified (Confidential Committee Print)
Withholding Tax Hearing Before A Subcommittee of The Committee on Finance,
United States Senate, 77th Congress, Second Session on:
Data Relative to Withholding Provisions of the 1942 Revenue Act, August 21 and 22, 1942
(Printed for the use of the Committee on Finance)
United States Government Printing Office, Washington 1942
SUMMARY/Contents Statement of:
Friedman, Milton, Division of Tax Research, Treasury Department
Hardy, Charles O., of Brookings Institution
Jacobstein, Meyer, of Brookings Institution
Paul, Randolph E., Treasury Department
2. To accomplish this goal, it was recognized that a scheme was needed to reach the largest number of people.
3. That the scheme, regardless of whether it was a "coupon," "stamp" or "withholding of income tax at source," would constitute a "forced loan" to the Federal Government and it would apply to taxpayers and nontaxpayers alike, with exceptions."