Tax Rebates

[DaJudge]

Just heard on the radio that Congress and the Bush administration has come to a tentative agreement on an economic stimulus package of tax rebates. Apparently singles will get about $300 and families will get up to $1200.

I'm all for getting back some of my tax money, but here's what gets me about this plan: Not only will tax payers get this rebate, but so will some people WHO DON'T PAY INCOME TAX! How do you get a rebate for something you never paid in the first place?

[MacUser]

Yep..

Deal Reached on Tax Rebates for Stimulus
http://www.breitbart.com/article.php?id ... _article=1

Pelosi, D-Calif., agreed to drop increases in food stamp and unemployment benefits during a Wednesday meeting in exchange for gaining rebates of at least $300 for almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes.

Families with children would receive an additional $300 per child, subject to an overall cap of perhaps $1,200, according to a senior House aide who outlined the deal on condition of anonymity in advance of formal adoption of the whole package. Rebates would go to people earning below a certain income cap, likely individuals earning $75,000 or less and couples with incomes of $150,000 or less.

[dolfan]

"Earned Income Tax Credit". Don't be upset, DaJudge. It's all magic, y'know. Just close your eyes and go to that happy place where Congress creates money out of thin air.

[DaJudge]

"Earned Income Tax Credit". Don't be upset, DaJudge. It's all magic, y'know. Just close your eyes and go to that happy place where Congress creates money out of thin air.

Yeah. It's called income redistribution. In other words, take my hard earned money, in the form of taxes, and give it to some other person who didn't earn it.

[MacUser]

"Earned Income Tax Credit". Don't be upset, DaJudge. It's all magic, y'know. Just close your eyes and go to that happy place where Congress creates money out of thin air.

Yeah. It's called income redistribution. In other words, take my hard earned money, in the form of taxes, and give it to some other person who didn't earn it.

WHAT?? you mean money I earn is taken away from me and literally given to others?

[DaJudge]

"Earned Income Tax Credit". Don't be upset, DaJudge. It's all magic, y'know. Just close your eyes and go to that happy place where Congress creates money out of thin air.

Yeah. It's called income redistribution. In other words, take my hard earned money, in the form of taxes, and give it to some other person who didn't earn it.

WHAT?? you mean money I earn is taken away from me and literally given to others?

Shocking, I know.

[EagerBeaver]

The real kicker behind this is with the money you receive, you're really expected to go out and spend it, and "help the economy out."

I'm saving mine.

[INLOVE]

Well, we won't get ANY back. They claim we make too much money.

[RamboPreacher]

who is this fica person and why does he get half my paycheck each month!?!?!?

[DaJudge]

Well, we won't get ANY back. They claim we make too much money.

Not necessarily a bad problem to have, but... it does stink that those who pay the most in taxes don't get a rebate.

[Susie Hamilton]

I'll use mine to help pay for the GA trip.

[DaJudge]

I'm saving mine.

[MacUser]

Come on blow it.

Be a good citizen to get the economy going to bail out the Housing market.

[DaJudge]

Come on blow it.

Be a good citizen to get the economy going to bail out the Housing market.

I think I'll lead by example and show people how NOT to get foreclosed upon.

[Paully_44]

Well, we won't get ANY back. They claim we make too much money.

Not necessarily a bad problem to have, but... it does stink that those who pay the most in taxes don't get a rebate.

I guess I just don't understand the justification in capping what a person/family can in earn in order to qualify, yet those who pay no Federal Income Tax qualify?

I have'nt heard yet if the income numbers for qualifying are Gross or Take home. Anyone else?