The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Jim McMannis who wrote (158070)	10/17/2008 12:33:25 PM
From: BWAC	Read Replies (1) of 306849

<<So how do you give 95% of households an income tax cut when 40% of them don't pay income taxes?>> Oh damn! Let me answer that............... Child tax Credit ($1000 per) Credit as in they just give it to ya even if you paid in nothing. Earned income credit. Normally comes very near to returning most all of the SS you paid in. 50% credit on IRA contributions. Send in $1000, get a crdit back from the IRS for $500. Back of envelope stuff here of course...... $38,000 married, two kids. Pays no income tax at all (ZERO), gets $2000 Child Tax credit back, gets most all SS/FICA deductions back $2000 or so, $500 IRA credit. Cut 'em a check for $4500 when the return is filed. Is this what you mean by how? Sounds kinda Bush plan like to me?

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