i WAS FIRST MADE AWARE OF THIS INCOME TAX INCREASE EARLY THIS YEAR WHEN AN EMPLOYEE OF ONE OF MY PAYROLL CLIENTS SHOWED AN INCREASE IN HIS TAX WITHOLDING. THIS MAN SUFFERING FROM CANCER WORKED PART TIME EARNING $200.00/WK AND HAD NO INCOME TAX WITHELD FROM HIS PAY FOR 2 YEARS WHEN SUDDENLY IN 2011 HIS $200.00/WK WAGE GENERATED AN INCOME TAX DEDUCTION OF $4.81. I THOUGHT THAT WAS ODD BECAUSE HI SS DEDUCTION WAS REDUCED BY $4.00/WK DUE TO THE GENEROUSITY OF PRESIDENT OBOMA BY GRANTING A 2% REDUCTION FOR THE EMPLOYEES SS CONTRIBUTION.
THE INCOME TAX RATES DID NOT CHANGE BUT THE INCOME BRACKETS FOR EACH RATE DID CHANGE.
BY USING SEVERAL HUNDRED ARITHMETIC MODELS, I DETERMINED THAT RAISING OR LOWERING THE INCOME BRACKETS BY AN AVERAGE 2% WOULD HAVE AN EQUIVELENT OF AN AVERAGE OF 4% IN THE IN INCOME TAX WITHHOLDING SO WITH THE BLESSINGS OF THE PRESIDENT, AN EFFECTIVE TRANSFER OF WITHOLDING FROM THE SOCIAL SECURITY TO GENERAL REVENUES WAS ACCOMPLISHED WITHOUT THE ENCUMBERANCE OF BEING A LOAN OR SALE OF BONDS. THIS CHANGE IN NET PAY ALSO WOULD BE AN INSIGNIFICANT DIFFERENCE IN THE NET PAY OF MOST PAYCHECKS AND THEREFORE WOULD BE UNDETEIBLE BY THOSE RECIEVING A PAY CHECK.
BUT WE HAVE TO REALIZE THAT THE SECRETARY OF TREASURY WHOSE JURISDICTION INCLUDES THE OPERATION OF THE IRS. AND THE CURRENT TREASURY SECRETARY WAS EXPOSED AS AN INTENTIONAL TAX AVOIDANCE EXPERT. WELL I LEAVE IT UP TO ALL OF YOU TO YOUR OWN OPINIONS.
Comments
Thanks for this information,,,