Yesterday, President Obama unleashed his pet herd of RINO's once again, and once again they trampled their constituents underfoot. The RINOs' spinelessness on the income tax "cuts" aside, Republican citizens should be angry enough to spit over the so-called 2% Social Security tax "relief." And relieve yourself on your the Republican caucus is what you are going to want to do when you figure out you didn't get a damned thing out of the Republican leadership's meeting with the President yesterday.
The 2% SS "tax relief" is right out of the Obama playbook. "Tax Relief" means "deferred taxation," it does not mean you get a tax "break." The SS tax relief proposal means you get a 2% increase in your paycheck for the next 12 months, at which time you will have to pay most or all of it back when you file your income tax return.
So, what's our push-back recommendation? Give yourself real tax relief. Change your withholding on
your W4 at work to Married with 10 dependents (unless you are that family with the 19 kids, in which case it would be Married with 30 dependents)*. Yes, you will have to pay taxes on that, too, but wouldn't it be a tremendous tea-party-like statement if every tax-payer in the country withheld 5% (more or less) of their income next year in protest of yesterday's 2% "relief" decision?
Don't worry. Claiming that many deductions is perfectly legal. Don't let your payroll department tell you it is not. As soon as I locate it, I will post the contents of a private-letter ruling from the IRS along with a few links that prove the legality of this action.