Obama's Making Work Pay Credit

Take a look at this article from CNN Money:

You're likely to see some more green in the next couple of weeks. Not only on the trees. Very possibly in your wallet, too.

President Obama has asked that all employers adjust their payroll systems by Wednesday so eligible workers can start receiving the new Making Work Pay tax credit through their paychecks. The credit, available for 2009 and 2010, was a part of the economic recovery package lawmakers passed in February.

Just how much extra cash you will see depends on your marital status, your salary and how many allowances -- or exemptions -- you normally take.

As a rough guide, singles eligible for the credit might get between $10 to $15 per paycheck if paid weekly; for those married filing jointly, they're likely to see an extra $15 to $20.

So the gracious Obama is giving Americans a tax credit. How kind, and benevolent for him to give us money. But just how is he doing this? Well, read on:

How Does It Work?

Using new withholding tables from the IRS, employers are supposed to pay out the Making Work Pay credit by reducing how much tax is withheld from eligible workers' paychecks.

"Changing withholding tables is a routine task. It's not difficult," said Scott Mezistrano, senior manager of government relations at the American Payroll Association.

So in other words, the man isn't giving us a tax credit, he simply isn't taking as much out of our checks for taxes. Yes, it is a tax break, disguised as a liberal hand out, a charitable offering, a kind gift from the One. Leave it to democrats to not be able to cut taxes outright, they have to twist it around to make it look like they are handing out money. Pathetic.