fossten
Dedicated LVC Member
BEGIN TRANSCRIPT
RUSH: Gail in Lakeside, Arizona, you're on Open Line Friday. Hi.
CALLER: Hi, Rush. Thank you for all you do for us.
RUSH: Thank you very much.
CALLER: I wanted to share quickly what I found out when I had my taxes prepared last week. The man that prepared my taxes for me cautioned me to watch out for my tax cut. He said, and you may want to adjust your withholding to take that back away, because the tax rate tables for next year when preparing taxes are not changing. So I could possibly owe my tax cut back to the government next year.
RUSH: You gotta be kidding. Not even I was aware of this trick. Say that again. They're not changing the rates, right?
CALLER: The tax rate tables that they use when you prepare your income tax.
RUSH: Yeah, these are not tax cuts.
CALLER: Right, exactly.
RUSH: These are transfer payments. These are tax credits and all that. There's no tax cut here. I should have been able to think of this on my own here, absolutely right. You're getting income, you're going to be taxed on it next year.
CALLER: Right. And we won't be able to pay it back $13 a week.
RUSH: 'Cause the same rates -- ah, man, your tax preparer is not only pretty smart but he's pretty forthright and honest with you on it. So what you are going to do?
CALLER: Change my withholding and take my tax cut away so I don't have to pay it back next year. Thank you, president, for nothing.
RUSH: (laughing) It just never ends. There's nothing real from these people. They don't say anything they mean.
RUSH: Gail in Lakeside, Arizona, you're on Open Line Friday. Hi.
CALLER: Hi, Rush. Thank you for all you do for us.
RUSH: Thank you very much.
CALLER: I wanted to share quickly what I found out when I had my taxes prepared last week. The man that prepared my taxes for me cautioned me to watch out for my tax cut. He said, and you may want to adjust your withholding to take that back away, because the tax rate tables for next year when preparing taxes are not changing. So I could possibly owe my tax cut back to the government next year.
RUSH: You gotta be kidding. Not even I was aware of this trick. Say that again. They're not changing the rates, right?
CALLER: The tax rate tables that they use when you prepare your income tax.
RUSH: Yeah, these are not tax cuts.
CALLER: Right, exactly.
RUSH: These are transfer payments. These are tax credits and all that. There's no tax cut here. I should have been able to think of this on my own here, absolutely right. You're getting income, you're going to be taxed on it next year.
CALLER: Right. And we won't be able to pay it back $13 a week.
RUSH: 'Cause the same rates -- ah, man, your tax preparer is not only pretty smart but he's pretty forthright and honest with you on it. So what you are going to do?
CALLER: Change my withholding and take my tax cut away so I don't have to pay it back next year. Thank you, president, for nothing.
RUSH: (laughing) It just never ends. There's nothing real from these people. They don't say anything they mean.
