My younger sister called me the other day all excited about the increase she's going to be getting in her check starting in April.
Lynda is getting ready to make a few major changes in her life so she thought she'd change her exemptions and check on how much to expect. Unlike me, she's a planner.
Given the promise from the Obama administration of an average increase of $8 - $13 a week she was a bit concerned about the tax implications. Word is out that tax tables are not being adjusted, so those receiving the stimulus increase may get hit up for taxes at the end of the year and end up owing Uncle Sam.
She is going to realize a whopping increase of 97 cents a week.
You should have heard her as she gushed about all she'd be able to do with her increase to help the economy. She figured that if she saved up for a couple of months she could take a run over to the local dollar store and spend her windfall in one place.
I kind of hated to put a damper on her enthusiasm, but I had to remind her that it took gas to drive to the dollar store.
Now she's going to have to put off doing her bit to help stimulate the economy another month just to accrue the money to cover the cost of gas. Sooner or later all that money the government is so generously "giving" her will add up to enough to help get us out of this hole. You know the old saying, "a dollar here, a dollar there and sooner or later you have real money".
Don't you just get a big kick out of the government taking money from us in the form of taxes, then turning around and giving a pittance back to us? They make it sound like they're doing us a favor by allowing us to keep some of the money they normally take out of our paychecks.
I have my own company. I won't see a penny of the stimulus. Doesn't sound like I'll be missing much.
Call me a skeptic...
3 years ago
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