Obama's $40 Deception

Obama wants you to think you will lose $40 a week if the payroll tax doesn't pass. Not quite....


Expect President Obama to start preaching about the average American family having $40 less to spend or save with each paycheck if the payroll tax "holiday" does not pass Congress.

That actually works out to a paltry $20 less per week for a household making the average $63,000 per year. Obama's math, apparently, assumes bi-weekly paychecks. But, he won't tell you that....

The actual figure being passed around Washington is $1,000 per year, which works out to $19.23 per week for the average American.

This $40 calculus just sounds scarier than the reality.

A married couple making $30,000 and filing jointly... will only save $600. It’s even more dramatic for those making less: a married couple making $20,000 and filing jointly... will only save $400.

Also, watch out for the alleged sob stories from people that Team Obama is collecting. We will be slammed with a stream of tear-jerk stories from "typical Americans."

A person from New Mexico said "$40 less a paycheck means I will have to pick between my insulin and the water bill. It means never being able to see my doctor -- even though I have insurance."

What did that person do this time last year? Because, as we all know, this tax holiday has been in place since January 2011.

These are anonymous stories posted on the White House website with no verification. Anyone can say anything and they certainly will.

This is just more Say Anything politics to get some politician elected. Don't fall for it.

This countdown clock is actually on the White House website.
Tacky enough for ya?
Quick, someone call Jack Bauer before it gets to zero!!

UPDATED: 12:55 12/22/11

It has already started. Check out this post on the White House whine site: $40 a week. The lie is starting to take hold.



Not to make light of your financial situation, T.K., but if you earn $40 in five hours, I assume you work for $8 per hour. Full-time at $8/hour works out to $16,640 a year (8x40x52). In that case, you will lose $6 a week, not $40, if the payroll tax rate returns to where it was in 2010.