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Politics : Clinton's Scandals: Is this corruption the worst ever? -- Ignore unavailable to you. Want to Upgrade?

To: Doughboy who wrote (3085)	8/25/1998 11:44:00 AM
From: DMaA	Respond to of 13994

. Why don't you admit you made a mistake and move on? Actually, his big mistake was not to preface each statement with a preamble - "To the best of my knowledge as I recall, bla bla bla." That way, technically, you can never be wrong and never held accountable. Neat huh?

To: Doughboy who wrote (3085)	8/25/1998 12:10:00 PM
From: Les H	Respond to of 13994

The Earned Income Tax Credit was started by Richard Nixon in order to try to buy votes during the recession. He was proposing an idiotic program, the EITC, whereby the government would give refunds to tax filers in order to bring their income up to the median per capita income. Of course, if everyone makes the median income, everyone becomes poor. At this point, the EITC is one of the biggest financial boondoggles. The IRS indicated at least 25% of EITC claims are paid for fraudulent filers, and may run as high as 50%. There are several border towns in the Southwest where they've found thousands of Mexicans coming across to file fraudulent tax returns to get instant EITC refunds. Another flaw with the EITC is it tends to take money from high cost urban areas where salaries are higher and give them to filers who tend to reside in rural areas where salaries and cost of living is much lower. It's just another example of a government designing flawed one-size-fits-all solutions.

To: Doughboy who wrote (3085)	8/25/1998 12:20:00 PM
From: RJC2006	Respond to of 13994

<<< Bob, you obviously "forgot" about the GOP tax cut last year, and now you pretend to understand how it works. I'm willing to credit the GOP for spreading the benefits of the tax cut quite evenly along all income income brackets: the Earned Income Tax credit is a boon for the working poor; reduction in personal exemptions benefits everyone (but the most wealthy), but as a percentage of tax, benefits the lower income levels the most; the Roth IRA is a wonderful savings device for the middle class (not so good for the rich because it is phased out at high income levels, and the $2000 per year limit is de minimis savings for someone who has an upper bracket income); the home tax reduction is a god-send to the middle class (my parents for one were "house poor," ie they have a modest income but they couldn't move out of their house without paying a huge tax. that problem is now solved); and the inheritance tax changes benefit small business and family farm owners pass on their property to children while having very little impact on the very rich. That's how the 1997 tax cut benefited all of us. Why don't you admit you made a mistake and move on? >>> Nice try Dough, I don't give the GOP a mark on the positive side for a tax plan which is nothing more than political gerrymandering. If you wish to help the greatest number of people then the obvious thing is to reduce the tax rate. Now, tell me how many times has the President and the GOP Congress has passed such legislation. You can cite targeted tax cuts until you are blue in the face and I'll say that you're right on every count. The majority of middle class Americans, people who make between 30K and 80K a year, see no relief in their payroll deductions. The true merit of a tax cut isn't what financial maneuvers one must take in order to benefit but rather what happens to their paychecks from week to week. In this regard the President and the GOP Congress get a big fat "F".