Pirate's Cove

Oh, joy! According to al-Reuters UK, Obama is going to keep his campaign pledge of a tax cut for 95 percent of the people, which is sort of true

U.S. President Barack Obama ordered the U.S. Treasury on Saturday to implement tax cuts for 95 percent of Americans, fulfilling a campaign pledge he hopes will help jolt the economy out of recession.

 

The tax cuts are part of a $787 billion economic recovery plan passed by the Democratic-controlled Congress over Republican opposition. The aim is to put more money in the pockets of Americans and stimulate the economy by increasing consumer spending.

 

“I’m pleased to announce that this morning the Treasury Department began directing employers to reduce the amount of taxes withheld from paychecks, meaning that by April 1st, a typical family will begin taking home at least $65 more every month,” Obama said in his weekly radio address.

Well, his actual promise was a $1,000 “rebate” check – meaning welfare check – for 95% of Americans. If we want to quibble, we will only be getting $780 of relief per year. But, not really, since the amount we save drops by almost half beginning January 2010. But, I do not want to be totally pessimistic, since we will be able to at least keep some of our money. For now. Pssst: I would recommend investing heavily in fast food chains that have dollar value menus.

“Never before in our history has a tax cut taken effect faster or gone to so many hard-working Americans,” he said.

But, a good chunk of the 95% do not even work. They are welfare couch potato’s, who are a drain on society (I do not want to imply that all of them are. There are certainly people in situations who have no choice, or are trying to work, better their lot in life, etc.) So, the question is, since this is not a “rebate” check that will be sent out, how does someone who does not earn a paycheck have less money withheld from their paychecks?