Tuesday, February 08, 2011

Misleading You

Last week I got a couple of surprises in the mail. You see I'm thinking about income taxes as I do every year for the first four months until I've wrestled with TurboTax and tried to avoid pulling a Geithner or Rangel.

I watched the debate at the end of last year about the Bamster's non-cutting tax cuts which were only a reprieve from a massive raise in taxes. I sort of welcomed the one year holiday from some Social Security deductions. I wiped my fevered brow when I figured that while I wouldn't be much better off, at least I wouldn't be much worse.

Then last week I got my annual Air Force retirement adjustment for the coming year. I knew there was no cost-of-living raise. I understand that when cost of living doesn't go up there is no adjustment. That's acceptable. I actually thought that with taxes constant and Social Security reduced temporarily that I would get a little bit more cash each month. That's why I was shocked to see a $50 per month increase in taxes withheld.

Two days later SWMBO received her annual adjustment for her Colorado teacher's retirement. That one had a $60 per month increase. Between the two our taxes go up more than $1300 for the year. Her teacher's salary took another $80/month hit. What I know so far is about $2500 more taxes, but that's still not the total from all sources of income.

In other words, all sources of revenue that have reported so far for my household are showing an increase of taxes withheld in the new year. NO TAX CUTS.

So, what is this telling me?

Income Taxes Lower Under Bamster Than Dubya!

Did you read that carefully? Did you see what they've done?

Total tax revenue collected is down, not tax rates paid by individuals or companies. Fewer people are working and paying. More people are exempted. Rates haven't changed and new levies have made taxes actually higher for anyone successful. The total bucket of cash extorted is lighter but the amount that contributors are chucking into that bucket isn't lower for the chuckers.

Do you think that Joe Sixpack will understand that? Do think this might be an attempt to get the great unwashed to think something other than the truth? Is it possible that our media is once again in the employ of the Messiah to shape his message?

That couldn't happen, could it?

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