I just found out about this thing. I think I heard talk of it, but never any follow up or confirmation.

I’m surely not the biggest Obama fan. I mean I’m not the big jerk most people are about him, I just feel weird about his whole election. i do have to say  i am thankful for his crew stopping the credit companies from their ripping off and scamming and over charging people into oblivion. Until this happened, you could be $200 in debt, get stuck in a spot where you neglect the issue and within 5 years be $10,000 in debt from overage fees and late fees on that original $200 credit.  Meanwhile the banks and credit companies begged for  bail out money (????????) While in the same month giving out benefits to executives that exceed my yearly income, by about 4 years plus the cost of my car, my last car, and how much money I currently need to get out of debt. So clearly I am very thankful for what he has done.

My issue is no matter how great his intentions are, he needs not be naive and needs to worry that what he says and what gets translated down the line of processing, can be very different. You know how it is, you are at work, you start a project and put all efforts into one thing, next jerk on the line decides  you made to much hassle so he throws stuff away and replaces it with stuff he finds more fitting. Or the co-worker just does not want to learn how to do what you are doing, so they throw everything you did, away and start from scrap. Sure you can scream at them till they make it look like it represents what you wanted, but it surely never will be. unless you do every single bit of work from start to finish to make it happen. and well, this world would have a bunch of useless “specialists” if everyone could be a do-it-all.

But this whole dang make work pay thing is about as useless as it gets ” here’s a dollar and fifty three cents a day”. hmm thanks for the cup of coffee? Or thanks for the taxes I pay for two gallons of gas??? You bought someone one more beer a day for you to over tax them on?

Check Your Withholding

How will the Making Work Pay tax credit affect you?

Most wage earners will benefit from larger paychecks in 2009 and 2010 as a result of the changes made to the federal income tax withholding tables to implement the Making Work Pay tax credit. However, some people may find that the changes built into the withholding tables result in less tax being withheld than they prefer.

If you’re not eligible for the Making Work Pay tax credit, withholding changes could mean a smaller refund next spring. A limited number of people, including those who usually receive very small refunds, could in some situations owe a small amount rather than receiving a refund. Those who should pay particular attention to their withholding include:

  • Pensioners (see more information under Pensioners, below)
  • Married couples with two incomes
  • Individuals with multiple jobs
  • Dependents
  • Some Social Security recipients who work
  • Workers without valid Social Security numbers

The Making Work Pay tax credit, normally a maximum of $400 for working individuals and $800 for working married couples, is reduced by the amount of any Economic Recovery Payment ($250 per eligible recipient of Social Security, Supplemental Security Income, Railroad Retirement or Veteran’s benefits) or Special Credit for Certain Government Retirees ($250 per eligible federal or state retiree) that you receive. If you are affected by this reduction, you should review your withholding to ensure that sufficient funds have been withheld to meet your tax obligation ……………… Read More

Well, I just did my taxes, it showed that I could see up to $400 on my return for this. Then when all was said and done, I see nothing. but after reading this page, I see it as being only able to see a discount throughout the year for 2010 of up to $400. Because I sure didn’t see it this year at all.

This will hurt and cost the government, more than it will help the people.