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Do You Pay Taxes? Why?

Discussion in 'Uncategorized Threads' started by JBrooks, Oct 13, 2008.

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  1. JBrooks

    JBrooks TS Member

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    Do you pay taxes? Not just do you have to pay when you file, but does your payroll withholdins actually exceed your deductions?

    Do you think you are going to get a tax cut from Obama because you are among the "95% make less than $250,000 per year". Bad news bunky. Here is how Obama's "tax cuts really work. They are not tax cuts to people paying taxes, they are plain old welfare check to people who DON"T pay taxes, (but do vote for Democrats).

    The long and short, if you pay taxes at all the government is going to take your money and give it to people who don't pay taxes. Any part of that you don't understand?

    Bill Kristol WSJ:

    "For the Obama Democrats, a tax cut is no longer letting you keep more of what you earn. In their lexicon, a tax cut includes tens of billions of dollars in government handouts that are disguised by the phrase "tax credit." Mr. Obama is proposing to create or expand no fewer than seven such credits for individuals:

    - A $500 tax credit ($1,000 a couple) to "make work pay" that phases out at income of $75,000 for individuals and $150,000 per couple.
    - A $4,000 tax credit for college tuition.

    - A 10% mortgage interest tax credit (on top of the existing mortgage interest deduction and other housing subsidies).

    - A "savings" tax credit of 50% up to $1,000.

    - An expansion of the earned-income tax credit that would allow single workers to receive as much as $555 a year, up from $175 now, and give these workers up to $1,110 if they are paying child support.

    - A child care credit of 50% up to $6,000 of expenses a year.

    - A "clean car" tax credit of up to $7,000 on the purchase of certain vehicles.

    Here's the political catch. All but the clean car credit would be "refundable," which is Washington-speak for the fact that you can receive these checks even if you have no income-tax liability. In other words, they are an income transfer -- a federal check -- from taxpayers to nontaxpayers. Once upon a time we called this "welfare," or in George McGovern's 1972 campaign a "Demogrant." Mr. Obama's genius is to call it a tax cut."

    Note this one more time:

    "In other words, they are an income transfer -- a federal check -- from taxpayers to nontaxpayers."
     
  2. Little Dog

    Little Dog TS Member

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    2stupid, swammie, and trappie think this is terrific, to take money from those who work and give it to bums
     
  3. JBrooks

    JBrooks TS Member

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    Obama wants to spread YOUR wealth around.

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  4. halfmile

    halfmile Well-Known Member

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    Unless you have a lot of deductions and file a Schedule "A" the mortgage deduction is worthless.

    you have to have 7 thousand of deductible expense to make it worth your while to do the paper work.

    And medical is only credited at half or so.

    Put your mortgage deduction in with your clean car credit. how many people at 40K or less have a nice new eco car?

    Just more crap to befuddle the sheep.

    HM
     
  5. Rico46

    Rico46 TS Member

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    Jan 29, 1998
    Messages:
    725
    MX-8 your right on the money! IRS now days only concentrates on white collar employee's that makes over 52K. Otherwise, all you recieve is computer generated letters. Clinton's reduction of staff at the IRS forced them to concentrate on the upper echelon of tax payers and those that file!

    Rick
     
  6. Little Dog

    Little Dog TS Member

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    The reason 40% don't pay any income taxes isn't because of lax enforcement, it's because they have no tax liability. We can thank the Democraps for this.
     
  7. stokinpls

    stokinpls Well-Known Member

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    The ruling party has plans for your 401K, imagine that!
     
  8. Bisi

    Bisi TS Member

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    Yes, I pay taxes. I'm self employed. I pay quarterly. Why? I guess cause I'm stupid. Taxes are a thief of a part of our life. Go back and look at what you have paid over the past 10 years. What could a person do with that money? To take it from one person and give it to another is wrong.
     
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