Your tax break? Couples=$13/week

So now that we’ve had this “stimulus” package crammed down our throats, the media has started dissecting it. A bit too late. The Associated Press looks at the tax break;

Q: What are some of the tax breaks in the bill?

A: It includes Obama’s signature “Making Work Pay” tax credit for 95 percent of workers, though negotiators agreed to trim the credit to $400 a year instead of $500 — or $800 for married couples, cut from Obama’s original proposal of $1,000. It would begin showing up in most workers’ paychecks in June as an extra $13 a week in take-home pay, falling to about $8 a week next January.

So the Democrats couldn’t even leave Obama’s $1000 credit alone, just like they had to give some of my money away last year to someone who doesn’t pay taxes.

AP says your tax break, if you’re married and file jointly, is a whopping $13/week. But the way I read it, a “tax credit” just knocks $800 off of your taxable income. So if you’re in the 10% tax bracket, your weekly “benefit” is a buck-and-a-half.

Remember when Tom Daschle criticized the Bush tax cuts because it’d only allow us to buy a car muffler? What will the Obama tax cut pay for in your household? Feeling like you’ve been taken for a ride yet?

Purple Avenger at Ace of Spades says 77% of you think you can do a better job than Congress on the economy. And 44% think we’d be better off picking random names out of the phone book. As long as it’s not the DC phone book, I might agree.

Category: Barack Obama/Joe Biden, Economy, Liberals suck, Media