Tax Cut Ouch

[djv]

If your single making 45000 or less about 200 bucks. Sorry Guys.
But if you go get married fast. And togeather make about 65000 you get about 900 bucks. If you have kids you may get 400 cash sent to you before end of year for each. They have to be 18 or under. If married you make 250000 togeather you will get about 3900 bucks. We wont talk about 300000 and up. But they will do just wonderful. So we need not worry about them.
If your older, over 62 retired. Thats about 20% of the population.
You get kick in the nuts. The people that will spend the money. Most need it badley. Get kick in the nuts. Good Plan. Schould spur the economy. How the hell do you leave out about 20% of the population.
These were first number put out today. EXPECT HEAVY SPIN TO START FAST.

 

[SixFive]

Why do people who don't pay taxes need to get more money back?


I'm not sure how successful this plan will be; I saw Warren Buffett label it voodoo economics on Nightline last night, but he sounded like he wanted to get on somebody's ticket soon. (politics).

The folks that are married and making a quarter and getting back 4 dimes, how much are they still paying in? A lot, right? Those were the first things I thought of, but I need to read more about it.

What is the source, I'd like to go read the article. Thanks!

 

[dawgball]

Is next weekend soon enough to get married?

 

[Blitz]

I am not rich, I am your avg. "Joe" scraping by...but it seems simple to me, the people who make the most money, pay the most taxes, hence will be getting more money back in tax relief.

Just seems like common sense to me...:shrug:

 

[michaeljbird]

well said Blitz

 

[Its Gravy]

what is it for incomes over 300,000
and 500,000?
thanks

 

[StevieD]

The tax cut is suppose to stimulate the economy. By giving money back to people who all ready have plenty it will not stimulate anything. But if you gave it to people who would buy things that they need and can't afford then it would stimulate something. It doesn't seem all that complacated to me.

 

[Turfgrass]

Richard Gephardt on CNN this morning. Says that the Bush tax cut is wrong because it doesn?t benefit most Americans. He then launched into his mantra about tax cuts for the ?favored few? and for the ?richest Americans.? Gephardt bragged that his tax cut would ?put more money in the average person?s pocket.?

What we see here is a long-term plan finally bearing rhetorical fruit.

For decades the Democrats have been working to shift the burden for federal income taxes over to a small percentage of higher-income Americans. We?re now at the point where the bulk of federal income taxes are paid by about 25% of all income earners, and where the bottom 50% of income earners pay none.

Gephardt?s statements on CNN this morning were a celebration of victory in the Democrats grand plan. Of course Bush?s tax cuts benefit a ?favored few.? It?s the same ?few? that actually pay income taxes! Of course Bush?s tax cut favors the ?richest Americans.? They?re the ones paying the taxes. When the ?average person? doesn?t pay income taxes, the ?average person? shouldn?t expect to see more money in his pay check when taxes are cut!

Gephardt?s plan? Same old stuff. Just write checks. Give people a check for $300 .. or couples a check for $600 and call it a ?tax cut.? Only in the wonderful world of leftist newspeak can you take give $600 to someone who doesn?t pay income taxes, and call it a tax cut.

 

[djv]

SixFive, Buffett just felt it had gone a little to far on the top end. His tax break is estimated at 300 million. He said somethings not right. His Secretary will get about 300 bucks.
Not sure what is fair to say to the single people who get screwd. Hey many single folks pay as much or more then married couples in taxes. Most retired folks still pay taxes. And will get little or nothing.
No Artical numbers were on CNBC finacial network. Repeated on CNN fiancial. Picked up other info from Buffett and of all people Ted Turner. Who I might add has lost his ass latley because of AOL deal. But still said. This tax break though OK. Still did not reach enough of the people who need one and will spend the money.
His tax break is estimated in the millions also.
This morning shows had added those around 500000 would see 17000 to 25000. The gap depended on many things I did not catch it all.
And the range of 250000 was reported wrong yesterday. 3900 is wrong. 5900 to 6900 is closer.
Hey Six Five It's not hurting me. So I dont give a chit. But I do agree the Buffetts and Turners wont do chit with there money. All the young Moms and Dads need the max relief. And they would spend it. And the older folks just a little ahead of me. Dam most all but top 3% of them need it. And they would spend it for sure.
And why would anyone think single folks wont spend it and need it as much as anyone else.

 

[StevieD]

Why do Republicans think only the rich pay tax? I pay taxes and I ain't rich. I think most people in my middle class tax bracket pay taxes. And we don't get a break from anything. And we don't take any handouts because we are not given handouts. If we want something we save for it. Usually the average wear and tear of normal use means we don't have money for luxuries. But we don't complain. We get up and go to work everyday and raise our kids the best way we know how and go to Little Leauge games and give to the church and whatever other charities we can afford to. We are not even asking for this tax break. But we watch as concert tickets and baseball game tickets go up and up in price as corporate fat cats take their clients to games that we used to be able to afford to take our kids too.But when we go we don't get a break but they get to write it off so they don't care how high the price goes. Corporate welfare nothing more.
Please do not say we do not pay taxes. Some millionaire pays a tax big deal! He should pay it and stop crying about it.

 

[dawgball]

By Stevie D, "But we don't complain."

That's the best line of the year by far!:lol2

 

[StevieD]

Why do find that funny. I hear these big rich repuplican fat cats complaing all the way to the bank. When do you hear the middle class complain?

 

[c20916]

They didn't say you don't pay taxes, the rich just pay more, so they get more back. The thing I don't like about this plan is how most of these are just temporary. The marriage break will only last two years, and then the married will go back to being penalized again in 2006.

In my opinion this is just a short term stimilus that is going to be out of control in a couple of years. You think people will be happy when they find out in 2006 that all the money they got back the past two years, they will now have to repay b/c all the benefits of the plan now will be gone.

 

[Turfgrass]

Yup ? your rate may come down from 38.6% to 34% .. but that?s only for 2003 and 2004. In 2005 your tax rate goes right back up again.

 

[StevieD]

Why do people who don't pay taxes need to get more money back?


Seems like I have heard this mentioned a few times. This is not suppose to be a rebate. It is suppose to be stimulate the economy. Giving someone who has money in the bank more money isn't going to stimulate anything. It is not like a guy getting $66,000 back is going to run out and buy a second Corvette. But give a middleclass guy $1,000 and that money will be spent.

 

[c20916]

That's what I think the problem is in America, you give a middle class person $1,000 and he will go out and spend $2,000 on his credit card, pay off part of it and then be in debt, and complain that he doesn't have any money. While the upper class people will either invest the money or spend it wisely.

Will I agree tax breaks are good for the economy, it just seems like people go crazy when you give them back a little extra money in thier paycheck.

I am by the way middle class, but that's just my opinion.

 

[dawgball]

I think this is a product directly resulting from the flaw of the bi-partisan system. Republicans (which I probably am) AND Democrats care more about undercutting the other more than working towards continuous improvement on the whole. I think instead of pointing fingers and name calling while the other party is in office, we should WRITE OUR REPRESENTATIVES! How many of us actually do this? But we'll get on a sports-gambling message board and bitch up a storm. As long as it took all of us to write these messages, we could have emailed, snail-mailed, called, or smoke signaled the actual people that vote for us.

There are always going to be flaws (or drawbacks) to any idea. It's time that we started working together. If it wasn't for individual's egos, this country would be in a lot better shape. I like to call this the Jesse Jackson theory. How in the hell does this guy convince people he actually cares about them. He is out for one thing...more money for himself! Just like Rush or any other person that LIVES on the soapbox. They have figured out how to push people's buttons, and they are laughing their asses off as they count their millions. If you really think Rush believes everything that comes out of his pie-hole you, sir, are a flaming idiot! Same goes for Jesse Jackson, Martha Burke, Jim Rome, or any other bullhorn talking head.

I guess this rant is simply telling everyone to take thier good ideas (which this board is full of them on both sides) and send them to the people that can actually make a difference. I bet 95% of the people here could not name their state and U.S. representatives, and I am part of the 95% on this one. I don't have a clue.

If we pull in the same direction, regardless of our differences, we will get to the goal quicker. As Rodney King said, "Can't we all just get along!"

 

[Blazer]

Nice, I fall in that <65K married range and just had to pay out taxes a few months ago. It will be nice to get that back so I can buy a boat.

I am the perfect example of why this tax cut is a good idea. I make above average and I am spending my money (with other money I have saved) to purchace an item. Money into our economy. Hey Uncle Sam give me more money I promise to spend it.



I have no pity for those who do not get money back. In the bigger picture they have not contributed enough to the pot to pull money out. To look at it another way, they kept thier money in the first place while I had to pay taxes. If they would of invested the tax savings they originally recieved they would have more money than I. They seem like people who come to a party empty handed and want to drink out of my bottle.

 

[c20916]

I am with you blazer, I am in the same category as you I had to pay uncle sam last month too. There won't be a rebate check like in 2001, since the tax rates are going to be lowered retro back to Jan 1. you just get more in your paychecks b/c less fed tax will be taken out, and then we get the relief from the stupid marriage penalty for the next two years.

Don't they know we are penalized enough by getting married and having to put up with our wives, then we have to pay more taxes to boot.

Now lets just get rid of the old sunsets they put in there. :nono:

 

[SixFive]

I pay taxes and I ain't rich. I think most people in my middle class tax bracket pay taxes. And we don't get a break from anything. And we don't take any handouts because we are not given handouts. If we want something we save for it. Usually the average wear and tear of normal use means we don't have money for luxuries. But we don't complain. We get up and go to work everyday and raise our kids the best way we know how and go to Little Leauge games and give to the church and whatever other charities we can afford to. We are not even asking for this tax break.

My sentiments exactly on this statement. I agree with you 100% on this, and I am in the same category. My point is this, why should somebody who isn't paying any taxes because they don't make enough get money back?

PS, I'm not a Republican. Cheers, fellow middle-classer!