Obama +1

Onkel Neal · 01-05-09, 12:25 PM

Obama: $300 billion in tax cuts

President-elect begins push on Hill for rescue proposal. On tap: Breaks for workers and businesses, energy and road and school construction.

Now we're talking. Combine this with non-NASA/defense/border spending cuts and I'll put an Obama sticker on my Suzuki.

Except this part, it's stupid to give tax rebates to people who don't even pay taxes

Quote:

The tax credit is likely to be offered only to those below a certain income level, but the Obama team hasn't specified where the cut-off point would be. The credit also would be refundable, meaning that even tax filers without any tax liability -- typically very low-income workers -- would receive one.

Frame57 · 01-05-09, 12:33 PM

Yep! I agree and people that do not pay or have spouses pay into social security should not get that either.

DeepIron · 01-05-09, 12:41 PM

Quote:

Except this part, it's stupid to give tax rebates to people who don't even pay taxes

Here, here! Absolutely, if you don't pay in, you don't get back...

AVGWarhawk · 01-05-09, 12:47 PM

Yes, you got to give a little to get a little.

Digital_Trucker · 01-05-09, 12:55 PM

Quote:

Originally Posted by Neal Stevens

Except this part, it's stupid to give tax rebates to people who don't even pay taxes

How else is he gonna "Spread the wealth" without enacting more transparent methods. This is a really easy way of spreading tax dollars to deadbeats without the majority of taxpayers even noticing. [Dons asbestos suit in anticipation of flaming for use of the word deadbeat:rotfl:]. And yes, to those about to flame, I understand that the proposal says "working people" who don't pay tax. I'd like to see a definition of working people before I agree with it. Does this mean someone who works 2 weeks a year?

Edit : Does his definition also include those of us who are unable to work and have no other taxable income? If it does, I'll shut up and take my check

Tchocky · 01-05-09, 01:13 PM

Quote:

Originally Posted by Neal Stevens

Except this part, it's stupid to give tax rebates to people who don't even pay taxes

Quote:

The tax credit is likely to be offered only to those below a certain income level, but the Obama team hasn't specified where the cut-off point would be. The credit also would be refundable, meaning that even tax filers without any tax liability -- typically very low-income workers -- would receive one.

It's actually a great idea. Incentivises people to work harder, now that pay rises will not be taxed as severely.
Also, anything that puts more money in the pockets of those on low incomes will help th'economy. They're much more likely to spend increases in wealth, instead of saving. Obviously both spending ans saving is required, but the economy needs to speed up.

A tad Keynesian of me, but it's en vogue

Hitman · 01-05-09, 01:21 PM

Quote:

Except this part, it's stupid to give tax rebates to people who don't even pay taxes

But they certainly do. They pay the indirect taxes, i.e. all taxes that increase the price of everything you buy. For example, gas, alcohol drinks, cigarrettes, etc.

Whatever they buy to eat, drink, dress or move, it has an indirect tax on it (VAT here in Europe).

Zachstar · 01-05-09, 02:54 PM

Those are state taxes.

Anyway.. I am not too much of a fan of these tax cuts. The last thing we need right now are more tax cuts...

At this rate the ONLY way he is going to be able to afford all of his promises is to vastly cut the military.

Stealth Hunter · 01-05-09, 02:57 PM

But they're still taxes.

Sailor Steve · 01-05-09, 03:46 PM

Quote:

Originally Posted by Stealth Hunter

But they're still taxes.

I disagree. The Federal Income Tax is refunded by the Feds because they often 'accidentally' take too much. A tax cut is supposed to help the economy by giving back some of that. Giving it to someone who didn't pay it in the first place is wasteful, to say the least.

That said, I took one of those 'Deadbeat' refunds, since it was there, which makes me a hypocrite, or at least conflicted. But I'm in good company with John Stossel, who reported himself as a welfare queen for taking offered government money to repair his beach house, saying he was against it but he'd be a fool not to take it when offered.

AVGWarhawk · 01-05-09, 03:53 PM

Quote:

Originally Posted by Sailor Steve

Quote:

Originally Posted by Stealth Hunter

But they're still taxes.

I disagree. The Federal Income Tax is refunded by the Feds because they often 'accidentally' take too much. A tax cut is supposed to help the economy by giving back some of that. Giving it to someone who didn't pay it in the first place is wasteful, to say the least.

That said, I took one of those 'Deadbeat' refunds, since it was there, which makes me a hypocrite, or at least conflicted. But I'm in good company with John Stossel, who reported himself as a welfare queen for taking offered government money to repair his beach house, saying he was against it but he'd be a fool not to take it when offered.

You make a good point Steve...but...(you know that was coming

)...you were continuously look to be gainfully employed. That is the difference. Some make a living at being the 'deadbeat'. In fact, a few family members

I know. Also, the refund is not a "mistake", it was the employees choice of declared dependents on the W2. I declare all my dependents on my week to week check. Why should I give the government a free loan on my money that is rightly do me under the tax code? So some declare no dependents and get a large check at tax time. Others like me take all I can week to week. This lessens the amount on my return but I have more week to week in spendable cash. Your tax returns can be controllable but that is up to the individual on what they declare from week to week. Throw in a house with interest and that makes for more of a return...your house is about the only tax shelter left.

FIREWALL · 01-05-09, 04:24 PM

Obama's got it figured out.

He'll send you a gold plated dollar for $9.99

Gold veneer just like him. All glitter but, not gold.

His recovery idea's will break this country.

AVGWarhawk · 01-05-09, 04:26 PM

So is handing out $700 billion to the banks. We are truly on a rudderless ship on a voyage to nowhere.

Digital_Trucker · 01-05-09, 04:30 PM

@Anyone who took offense to my deadbeat statement. My definition of a deadbeat is someone who deliberately does exactly as much, and not one bit more, as is necessary to collect all the government benefits possible. That excludes anyone not able to work, anyone seeking work and not finding any (or finding little) and probably thousands of possibilities that I haven't considered as of yet.

nikimcbee · 01-05-09, 10:05 PM

Quote:

Originally Posted by Neal Stevens

Obama: $300 billion in tax cuts

President-elect begins push on Hill for rescue proposal. On tap: Breaks for workers and businesses, energy and road and school construction.

Now we're talking. Combine this with non-NASA/defense/border spending cuts and I'll put an Obama sticker on my Suzuki.

Except this part, it's stupid to give tax rebates to people who don't even pay taxes

Quote:

The tax credit is likely to be offered only to those below a certain income level, but the Obama team hasn't specified where the cut-off point would be. The credit also would be refundable, meaning that even tax filers without any tax liability -- typically very low-income workers -- would receive one.

I'd pay money to see that bumpersticker.:rotfl:

01-05-09, 12:33 PM	#2
Frame57 Sea Lord Join Date: May 2008 Location: 1300 feet on the crapper Posts: 1,860 Downloads: 2 Uploads: 0	Yep! I agree and people that do not pay or have spouses pay into social security should not get that either. __________________ "My Religion consists of a humble admiration of the illimitable superior spirit who reveals himself in the slight details we are able to perceive with our frail and feeble minds." Albert Einstein

01-05-09, 12:47 PM	#4
AVGWarhawk Lucky Jack Join Date: Jun 2005 Location: In a 1954 Buick. Posts: 28,253 Downloads: 90 Uploads: 0	Yes, you got to give a little to get a little. __________________ “You're painfully alive in a drugged and dying culture.” ― Richard Yates, Revolutionary Road

01-05-09, 02:54 PM	#8
Zachstar Sea Lord Join Date: Feb 2005 Location: Shreveport, Louisiana Posts: 1,956 Downloads: 13 Uploads: 0	Those are state taxes. Anyway.. I am not too much of a fan of these tax cuts. The last thing we need right now are more tax cuts... At this rate the ONLY way he is going to be able to afford all of his promises is to vastly cut the military. __________________

01-05-09, 04:24 PM	#12
FIREWALL Eternal Patrol Join Date: Mar 2006 Location: CATALINA IS. SO . CAL USA Posts: 10,108 Downloads: 511 Uploads: 0	Obama's got it figured out. He'll send you a gold plated dollar for $9.99 Gold veneer just like him. All glitter but, not gold. His recovery idea's will break this country. __________________ RIP FIREWALL I Play GWX. Silent Hunter Who ???

01-05-09, 04:26 PM	#13
AVGWarhawk Lucky Jack Join Date: Jun 2005 Location: In a 1954 Buick. Posts: 28,253 Downloads: 90 Uploads: 0	So is handing out $700 billion to the banks. We are truly on a rudderless ship on a voyage to nowhere. __________________ “You're painfully alive in a drugged and dying culture.” ― Richard Yates, Revolutionary Road

01-05-09, 02:57 PM	#9
Stealth Hunter Silent Hunter Join Date: Nov 2006 Location: Y'ha-Nthlei Posts: 4,262 Downloads: 19 Uploads: 0	But they're still taxes.

01-05-09, 04:30 PM	#14
Digital_Trucker Silent Hunter Join Date: Jul 2007 Location: The Peach State Posts: 4,171 Downloads: 141 Uploads: 10	@Anyone who took offense to my deadbeat statement. My definition of a deadbeat is someone who deliberately does exactly as much, and not one bit more, as is necessary to collect all the government benefits possible. That excludes anyone not able to work, anyone seeking work and not finding any (or finding little) and probably thousands of possibilities that I haven't considered as of yet. __________________ RSM-GIEP-Killflags-LV Tribute-Playable Elco __Peace be with you, Dave.