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To: Jim McMannis who wrote (158070)10/17/2008 12:31:51 PM
From: Jet.ScreamerRespond to of 306849
 
You don't. But if you think we are not already giving money back to nontaxpayers you are wrong. Food stamps and similar programs do it. It is no different then when someone isn't taxed on a company car that is used for personal use, the gas they use and the insurance on the car because their employer pays for it.



To: Jim McMannis who wrote (158070)10/17/2008 12:33:25 PM
From: BWACRead Replies (1) | Respond to 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?



To: Jim McMannis who wrote (158070)10/17/2008 12:40:11 PM
From: bentwayRespond to of 306849
 
"So how do you give 95% of households an income tax cut when 40% of them don't pay income taxes?"

You redistribute wealth Jim. Raise them up to where they would have needed to pay taxes, but now don't.<g>



To: Jim McMannis who wrote (158070)10/17/2008 4:56:57 PM
From: Dan3Respond to of 306849
 
Re: So how do you give 95% of households an income tax cut when 40% of them don't pay income taxes?

You give them a FICA tax cut - and make it retroactive to the beginning of the year if you want to fix things.



To: Jim McMannis who wrote (158070)10/17/2008 5:55:53 PM
From: estatemakrRead Replies (1) | Respond to of 306849
 
JM, here's one way. You find a big Lib to say to hell with written contracts, "you're gonna lower that payment or else!"

biz.yahoo.com


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