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What were those tax cuts again?

03/20/2010

As far as cons go, this one has gone by rather quietly. Stands to reason with the larger issues of health care and all that keep us occupied. The plan of throwing so many things at us so quickly seems to be working rather effectively. So effectively in fact, that people either don’t realize, or are to preoccupied to notice, that their tax bill didn’t reveal the tax cut after all. Or perhaps the shear number of unemployed and underemployed don’t have enough income to realistically notice the false promise.

I was amazed as the administration kept calling a tax table adjustment a tax cut. Worse than people not understanding the difference, is that press and pundits continued to allow leaders to call it a cut without calling them on the deception. It was the famed promise of an extra twelve dollars in the paycheck because the government felt our pain and wanted people to have extra cash to buffer the economy.

I admit I wrongly predicted that a lot of people would be upset as they did their taxes this year once they realized that less withholding from their checks meant less refund after their taxes were done. The tax table changes never, in fact, changed the tax rates. Less withheld taxes means more taxes due. Whether that resulted in a larger tax bill or a smaller refund, the dollars still are required by our benevolent government.

Perhaps, just as the amount was probably too small to impact our faltering economy, the tax impact may be too small to be noticed by most people. Well, what can I say. Tax season will come and go and the issue will go unnoticed as the small potatoes that it is. After all, it isn’t a trillion dollars.

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