Wednesday, April 01, 2009

Steve Kagen's, April Fools Joke

From Fox 11 WLUK Green Bay.
Wisconsin 8th District Congressman Steve Kagen is playing his constituents for fools, and it's not an April fools joke. You know that extra $15.00 you will receive on your next pay check. It's called sleight of hand, it's called now you see it and now you don't. Here is what Kagen is telling you.
""These are your tax dollars coming back home right where they belong: into your pocket. These dollars go a long way in the Midwest," Rep. Steve Kagen (D-8th Congressional District) said."
Payday tax cuts go into effect

The joke is on the people of the 8th District. What he is not telling you he has his hand in your other pocket to take it back. Now read this.
Tax professionals, however are warning that some could end up having to pay back a portion of the extra money they receive. "The burden is on you, as the recipient of the money, to watch it," Mellem said. According to Mellem, those who receive more than the allowed credit will have to pay it back on next year's income taxes.

Did you catch that, you have to pay it back!
Those with more than one job are the most likely to be affected.

I know a lot of people with two jobs. Most likely to be affected?
"You're going to get it a little at a time and it's easy to spend and to stimulate the economy - which is what the purpose is - but, at the end, if you owe money you're not going to be a happy camper," Mellem added.

Kagen's prank is on you, Steve Kagen is taking you for a FOOL!
For some, next year might be the first time they've ever owed after years of receiving a refund check at tax time.

Individuals that make more than $75,000 and couples that make more than $150,000 are not eligible for the tax break.

Surprise, surprise, no refund check next year. And Steve Kagen will be laughing as you write that check to Uncle Sam next April 15th!

Steve Kagen pulled this off and the joke is on the people of Wisconsin.

Check with your tax preparer if you don't believe me.

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