Tax Rebates

[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.

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?

I'm sure they're talking about Gross income

[dolfan]

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?

I'm sure they're talking about Gross income

It is called "agreeing to the absurd to get the bill passed in an election year." Conservatives get a $300.00 or more "tax cut", liberals get a $300.00 or more hand out to their constitutents. Everybody wins. Why do you have a problem with that?

George Washington said it best, "Few men have virtue to withstand the highest bidder." Apparently, President Bush is one of the many.

[Jennifer Smith]

We already get money back we haven't paid in...

Don't throw snowballs at me!

It is called an Earned Income Credit, and it helps having 4 children! Also helps being in ministry, at tax time anyway.

[DaJudge]

We already get money back we haven't paid in...

Don't throw snowballs at me!

It is called an Earned Income Credit, and it helps having 4 children! Also helps being in ministry, at tax time anyway.

Jennifer, not throwing any snowballs here, just asking: Do you think it's right that you get an "income tax rebate" when you don't pay any income tax?

[Paully_44]

We already get money back we haven't paid in...

Don't throw snowballs at me!

It is called an Earned Income Credit, and it helps having 4 children! Also helps being in ministry, at tax time anyway.

Jennifer, not throwing any snowballs here, just asking: Do you think it's right that you get an "income tax rebate" when you don't pay any income tax?

And those that earn above a certain amount and pay good chunk of taxes get squat?

[Jennifer Smith]

I don't know if it's right or not, but with the tax advantages afforded to ministers we do take advantage of it!

One way to look at it is a rebate of taxes in general.. We pay property taxes, gas taxes, luxury tax (when we can afford luxuries, hehe ), sales tax, etc.

[INLOVE]

I am with you Paully. My husband paid $80,000.00 in income taxes last year. I am a stay at home mom. We paid all of that, and aren't getting squat. Just doesn't seem right.

[darylscook]

pardon me while I ramble

Considering the debt of the nation I don't know if they need to send any money back, I would just be happy if they quit spending so much and stopped taking it in the first place. Now that I have said that....

If they are really trying to "give back" (and also just to "give") money to stimulate the economy, will they need to give money to people who need money to spend. Now for a couple making $150K a year (which is not near as much money as it sounds), bring home about 10K a month, an extra 1K, one time, isn't going to influene them and cause them to spend more than they really would have anyway; even for those that spend 12K a month and have really overdue credit cards, because they are just going to pay them on the credit cards and keep spending 12k a month anyway.

Now for someone make about 60K a year. bringing home probably 45K.. Those who practice good stewardship will probably save it unless they just started good stewardship and then they will pay it on debt. But, we all know that 2/3+ of the people are not good stewards. So they will spend it.

For those making 3K a year and only pay Social Security. Well FICA is really just tax; They spend it like tax. At lease EVERYONE pays FICA under the guise of Social Security is separate. Probably 75% of those will spend it.

Since spending it is what they want. I guess this isn't too bad after all.

Not to mention, I am considered Middle class with 2 kids, I make enought to pay plenty of tax but not enough to get hit with any phase out. Hey, I might get $600 + $600 + $300 + $300 = $1800. Wait, I think I'm liking this plan

Daryl

[Steve]

Today's paper said the phase-out started for AGI's above 75k. The wording was funny, though.....$600 per taxpayer or $1200 per working couple. My wife and I file jointly, but she does not work outside the home, so do we get $600 or $1200?

Also, $300 to those who don't pay taxes is a handout, plain and simple. Only a liberal would call that a rebate!

And another thing, if they can REBATE me that money PLUS give some of my money to somebody who didn't earn it, why not just REDUCE MY TAXES in the first place!!!! Geez!

[Paully_44]

And another thing, if they can REBATE me that money PLUS give some of my money to somebody who didn't earn it, why not just REDUCE MY TAXES in the first place!!!! Geez!

that is what I was wondering, would save paper, money and time.

but then, I think the govt wants people to have a check in hand so they can walk to the bank, cash it and go straight to the store and spend it. If it came as a rebate, maybe more people would be inclinded to save or pay bills, rather than spend.

[Full Quiver]

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.

I thought Bush was a conservative? did you vote for him because this makes twice he has done this. I didn't get a check the first time and don't expect one this time. I do know a woman with 5 kids who got a large check last time even though her and her husband make around $150,000 per year. Besides, would you rather redistribute wealth to Americans or Iraqis? They ain't paying taxes but they sure are receiving.


Earned income tax credit, horrible name I suppose but then again maybe not, is for lots of folks even some without kids at home. It is not a ministry deduction or savings. The 16th amendment brought us this entire mess in the first place. Blame it on Taft, a Republican.

[valley]

I do not support this plan. I personally believe the markets should be allowed to correct themselves. Perhaps if the feds wanted to do anything passing a tax system that will encourage business growth and wealth building.

A friend of mine and I discussed the tax situation. He suggest a simple 10% flat tax with a deduction of $10,000 per person per house hold. I also like the fair tax, but I do not think that is plausible.