Tag Archives: spending

Obama’s tax break bad economically

President Obama’s signature tax break of up to $400 for individuals and up to $800 for couples is turning into a confusing mess for millions of taxpayers. What looked to some like free money in February amid the hoopla of Obama’s $787 billion “stimulus” bill was really a decrease in federal income tax withholdings for the 2009 and 2010 tax years. However, because of the speed in getting the bill passed, IRS withholding tables weren’t in place in April when workers started seeing less taxes withheld from their paychecks. Continue reading

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