If This Is Not Income Redistribution
October 13th, 2008 by Shiplap
Then what is it ?
Obama tax cut ‘refunds’ those who don’t pay
Barack Obama says he will give 95 percent of all American workers a tax cut but does not mention that his plan would send checks to tens of millions of tax filers who pay no personal income taxes - payments that critics say look “suspiciously like welfare.”
Mr. Obama’s campaign promise, which he has repeated in his speeches and in the presidential debates, stems from his “Making Work Pay” tax cut that will give a $500 refundable tax credit to every worker or $1,000 to each working couple. But because this provision in his economic-recovery plan is “refundable,” a large number of middle- to lower-income workers who have no income-tax liability after taking tax credits and deductions the that Internal Revenue Service allows, will be given the equivalent of the tax cut in the form of direct payments from the U.S. Treasury - funded by higher-income taxpayers.
This entry was posted on Monday, October 13th, 2008 at 6:18 pm and is filed under Campaign 2008, Den of Thieves, Obama files. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
October 13th, 2008 at 6:25 pm
“Spreading the wealth around is good for everybody”, haven’t you heard ?
http://www.youtube.com/watch?v=-W6NnAs-tlI
I imagine those whose pockets are being picked have a vastly different viewpoint..
October 13th, 2008 at 6:29 pm
and the difference with the bush economic stimulus package was ?? Plenty of People who paid no taxes got the stimulus package.
I looked into McCain’s package - and I basically get no relief from taxes at all under his plan, but the banker making $1 million gets a $50k tax cut - I guess I have to wait for him to pee, so I can get my trickle down.
October 13th, 2008 at 6:36 pm
Jim Bob, Congress put that in did they not ? Call that the Pelosi effect..
“I basically get no relief from taxes at all under his plan”
No relief, or no further relief ?
October 13th, 2008 at 6:47 pm
Well, it’s called an earned income tax credit, Shiplap, and we’ve had it since 1975. But then everyone knows Gerald Ford was a socialist.
Where do you find these people, Joe?
October 13th, 2008 at 9:22 pm
Hey zimco…I know it’s beyond your comprehension… but this is QUITE different than earned income credits. Entirely different, to be frank.
You see, 40 % of those 95% ALREADY pay no taxes.
This is like free money back, but it’s funded by people who playerd by the rules and still get their wallets picked.
October 13th, 2008 at 10:22 pm
In post #4, we are being asked to believe that the EITC program passed in 1975 is the EITC program we have today. Nonsense. During the Clinton years, EITC, as was CRA, became distant cousins of the programs initially passed.
In 2003, EITC filings were roughly 17-18% of total returns filed. Compared to 41%, is a very small piece of the “tax payers that pay no taxes” pie.
October 13th, 2008 at 10:40 pm
“married taxpayers pay roughly 75 percent of all federal income taxes, despite filing only 40 percent of returns.”
So this is why the young singles have a crush on Obama..
October 13th, 2008 at 11:03 pm
The premise the message states is exactly what happens every year to me (well, as long as I’ve been a teacher). I make less (gross) than I used to pay in taxes, but with the tax credit for children, I get a refund that is greater than what I and my wife pay into the system. If Obama is elected, I’d get even more. I still support Palin.
October 13th, 2008 at 11:23 pm
That, Brian, is because you care what is best for your country, not for your self.
October 14th, 2008 at 4:44 am
It’s funny how you guys are suddenly in favor of paying more taxes. I thought conservatives were in favor of tax cuts. Don’t you guys have any principles left other than whatever Obama’s for Ah’m agin’ it?
October 14th, 2008 at 6:36 am
The overriding principle that socialism is bad for the country trumps O’Bama’s empty promises.
October 14th, 2008 at 7:26 am
if Obama is elected you really think you will get more? I just don’t see how he can do all these new programs he wants and cut taxes/offer credits. It just ain’t gonna happen. His limited track record reflects what “could” happen. He makes promises to start all these programs (loaded with pork) then he needs someone to pay for them - who will he tap for that? The rich liberal’s who are trying to buy him 4 years in the White House - no - it will be the middle class.
October 14th, 2008 at 7:34 am
Didn’t Clinton promise a middle class tax cut? I am still waiting for it. Clinton’s excuse was once he got in office he realized it was impossible, and gosh darn if things aren’t a bit murkier than they were in 1992.
Zimzo, You are getting nothing just like 1992.
October 14th, 2008 at 8:02 am
Yes he did but don’t point your finger too much at Clinton - do you remember the first Pres Bush? “read my lips - no new taxes” At least Pres Bush had the smarts to tell the nation that taxes needed to be raised unlink Pres Clinton who just did it - in between his busy social schedule with Monica. On the Obama topic - I rest my case!!
http://online.wsj.com/article/SB122385651698727257.html
October 14th, 2008 at 9:17 am
I don’t give Bush 41 a free pass on anything, particularly the “No New Taxes” pledge. The argument that one person’s tax pledge break is somehow diminished because “they all do it” is bogus. Clinton and Obama sound identical on this issue, so it is the Democrats that have to explain why Obama is to be trusted on this issue. The Republicans admit that Bush 41 breaking his pledge was not only wrong, but that it may have cost him the election. Of course, we can’t forget Ross Perot either.
Clinton has never been held accountable for breaking his tax pledge and Obama won’t either, where is the intellectual honesty?
Last point, if the Bush Tax cuts are going to expire under an Obama administration, is that not a tax increase? So Obama is going to give part of the expired tax cuts back and call it a Middle Class Tax Break? Give me a break.
October 14th, 2008 at 10:16 am
“Where is the intellectual honesty?”
Intellectual?
Honesty?
We are talking about DEMOCRATS, remember?
October 14th, 2008 at 11:00 am
So suppose that all the country’s wealth was gathered together and distributed by Obama in equal amounts to all US residents.
Within 20 years or sooner, (if we still maintain a free economy) all the money would revert back to where it is today.
October 14th, 2008 at 11:38 am
Ding, Ding, Ding - Jack is correct - we are talking about Democrats.
October 14th, 2008 at 12:05 pm
#16
WHAT AN ARROGANT STATEMENT !!!
October 14th, 2008 at 12:07 pm
#19
Ding, Ding, Ding
Dingbat - maybe that’s what you were trying to write?
October 14th, 2008 at 12:14 pm
Lovisa, Have you ever heard of stating the obvious? That is what Jack was doing, and what I was pointing out.
Welcome back, I see your manners stayed intact on your travels.
October 14th, 2008 at 12:42 pm
“WHAT AN ARROGANT STATEMENT !!!”
You demonrats DO have a knack for feeding my superiority complex.
October 14th, 2008 at 1:38 pm
#22
Trying to outdo yourself in the play-on-words area, are you, jack?
October 14th, 2008 at 2:21 pm
I’m one of the few who can.
October 16th, 2008 at 8:39 am
Elitist a**hole Joe Biden going after Joe the Plumber:
http://www.youtube.com/watch?v=j66LUroXUck
I love that the Democrats are now up against blue collar workers.
October 16th, 2008 at 10:21 am
Cmac, they are also making some misstatements, it is not a single wage-earner making $250k that they are calling wealthy. This is $250k family income.
I would bet that a family making $250k a year living in Manhattan, would argue with you that they should pay more federal taxes than a family making $225k a year living in Boise Idaho..
October 16th, 2008 at 11:12 am
cmac, did you see this one ?
http://www.youtube.com/watch?v=bq-eeWow_WU
October 16th, 2008 at 2:01 pm
#24 - jack
Again, sing this 10 times:
“O Lord, it’s hard to be humble
when you’re perfect in every waaaaay….”
October 16th, 2008 at 2:13 pm
That’s my theme song, baby!
October 16th, 2008 at 2:22 pm
Dans, Biden is a class A BOOB.