Obama Giveth... Obama Taketh Away...

Folks... I'm begging you... you've GOTTA access this link!

Here's the newsbite synopsis:

Compared to how January 2011 might have played out, where every taxpayer in the United States would have received a smaller paycheck if the 111th U.S. Congress hadn't acted to extend the 2001 and 2003 tax cuts, the Congress' late action to extend those tax rates for another two years, while also throwing in a 2.0% payroll tax cut, might seem like a great deal.

But then we saw the changes the IRS rushed out for the income tax withholding rates that will apply in 2011 and we can confirm that the odds that you'll actually have a full additional 2.0% of your income to take home aren't very good at all.

From what we can tell, you'll only see that much of a change over your 2010 paycheck take-home pay if your income is less than $2,100 if you're a single filer, and $7,900 if you are a married filer.

Meanwhile, many of you may find yourselves actually taking home less money on your paychecks!

As for why the promise of a 2.0% payroll tax cut really doesn't add up to 2.0% of your salary or wage income... the Obama administration is altering tax withholding for 2011 with respect to what they established in 2010.

By lowering the income threshold at which income tax withholding begins to apply for the lowest income earners, the government effectively reduces the size of the payroll tax break. [This] will have economic consequences in that wage and salary earners won't actually have anywhere near as much money, and therefore, ["the breaks" will] nowhere near the impact that the Obama administration's economic planners [have led people to believe they will].

Anyone wanna wager a guess as to how much play this info will get via the mainstream media...?

Folks... as friends, relatives, and most other readers know, my Sainted Wife Mary...

(*SIGN OF THE CROSS*)

...works for a top-flight CPA firm.

When I came upon the article excerpted above I immediately sent her the link and asked her to verify it.

Folks... everything being reported in this analysis is true.