Do Obama supporters really, truly

[Sk8Leigh]

You aren't giving people that make less money more money. You are giving them services. People that make less are just being taxed less.

No, if they aren't paying any taxes and then you give them a refundable tax credit, then you are giving them money.

 

[Charade]

You aren't giving people that make less money more money. You are giving them services. People that make less are just being taxed less. Also if you honestly think someone who makes $250,000 and is taxed 28% is affected as much as someone who makes $20,000 being taxed the same you need to have your head examined.

Someone making $250K is in the 33 percent bracket. Someone making $20K isn't in the 28 percent bracket. They're in the 15 percent bracket. I'd bet with standard deductions and EITC, they pay practically no taxes.

Before any deductions or credits, a person making $20,000 has a tax liability of $2600. That's about 13 percent. The standard deduction for a single filer is $5450. So that makes the taxable income of $11,500. With the standard withholdings, this person would likely get a refund of about $1300. So their total tax was about $1300 which is about a 6 percent effective income tax rate.

 

[profdsny]

Short answer: Yes. Noblesse oblige.

 

[djm99]

I just can't believe this. And people say Obama Supporters drink kool aid. Some of McCain’s supporters must be drinking some kind of hard dark liquor. Everyone who has worked a job has paid into a progressive tax system. A system that's been in place since FDR. Are you kidding me? Why a big deal now. What's incredibly funny and sad at the same time, the main people that are screaming bloody murder about Obama's tax plan will likely benefit from it. Half (if not more) don't make $250,000 a year. It's just insane. The same people are robbing Peter to pay Paul. Do you hate Obama so much that you can't see how MOST Americans would benefit from this plan? Even Sam the not licensed plumber (aka Joe the plumber) with his unemployed self would benefit from Obama's Tax plan if he decided to buy his imaginative bosses business that only grossed about $100,000 in profits. This is just ridiculous. You guys take something and just run it to the ground. I can't wait for this election to be over. Goodness gracious.

I just have to laugh!!!

 

[stacyp9]

I just can't believe this. And people say Obama Supporters drink kool aid. Some of McCain’s supporters must be drinking some kind of hard dark liquor. Everyone who has worked a job has paid into a progressive tax system. A system that's been in place since FDR. Are you kidding me? Why a big deal now. What's incredibly funny and sad at the same time, the main people that are screaming bloody murder about Obama's tax plan will likely benefit from it. Half (if not more) don't make $250,000 a year. It's just insane. The same people are robbing Peter to pay Paul. Most will benefit more. Even Sam the not licensed plumber (aka Joe the plumber) with his unemployed self would benefit from Obama's Tax plan if he decided to buy his imaginative bosses business that only grossed about $100,000 in profits. This is just ridiculous. You guys take something and just run it to the ground. I can't wait for this election to be over. Goodness gracious.

I just have to laugh!!!

Psst. Joe's not a faux plumber anymore. He's going to be a music star!

 

[Master Mason]

Yes, europeans think we are stupid. It may be because so many are freaking out about a "muslin" and a middle name. What do you think?

Personally what I think is I don't give a rat's patootie what the europeans think of us. We don't get involved in their governments they should stay out of ours.

 

[Master Mason]

What's incredibly funny and sad at the same time, the main people that are screaming bloody murder about Obama's tax plan will likely benefit from it.

What's incredibly funny and sad at the same time is that the main people that are for it think it is prefectly acceptable to take away something someone else has earned for their benifit.

I Don't give a crap about the raising the taxes, I would rather it didn't happen, what I object completly to is to then turn around and give them to someone else as a refundable tax credit. It is NOT ok to spread the wealth. Forceably taking someone elses money away from them would be a crime to anyone but the government.

 

[Took]

Psst. Joe's not a faux plumber anymore. He's going to be a music star!

Or Sarah's vp, so I hear...

 

[Took]

Personally what I think is I don't give a rat's patootie what the europeans think of us. We don't get involved in their governments they should stay out of ours.

Yeah, right, we never get invovled on the governments of other countries....

 

[Colleen27]

Because it is not their money. And if you are giving them OPM (other peoples money) what is the incentive to do better for themselves?

What incentive does anyone have to do better for themselves? Because they want better. Ensuring people have the essentials in life doesn't take away their incentive to do better, because people want more from life than the bare essentials.

 

[Colleen27]

You're not altogether wrong, BUT we also need to look at the result of INDIVIDUAL GREED. My husband's grandparents raised three children in a two-bedroom house. No air conditioning, one car, one TV, homecooked meals, a very basic life -- they were middle class, not poor folks. Fast-forward to today: People whose children have to share a bedroom, who don't have cable TV, who aren't able to buy a car for their 16-year old driver, or who can't afford a nice vacation are considered POOR. What changed? Our expectations. If we were willing to accept what was "middle class" even just one generation ago, an average person COULD support his family.

I don't think that's true. Some of the hallmarks of the middle class - the ability to own a home, send your kids to college, save for retirement - are out of reach of many if not most average-earners in this country. Lifestyle only accounts for a small part of that change, IMO. The trend towards larger houses is obviously an issue, but so is the need for a college education to support a family, the whole suburban sprawl trend that created the need for more cars, the increasing dependence on electronic communication that leaves one at a disadvantage without television or internet, etc.

 

[Master Mason]

Yeah, right, we never get invovled on the governments of other countries....

Where exactly are we involved in the governments of any european countries exactly? And even in Iraq and Afganistan, who was it that voted for their governments... hmmmm seams to me that they had elections and chose themselves didn't they?

 

[djm99]

What's incredibly funny and sad at the same time is that the main people that are for it think it is prefectly acceptable to take away something someone else has earned for their benifit.

I Don't give a crap about the raising the taxes, I would rather it didn't happen, what I object completly to is to then turn around and give them to someone else as a refundable tax credit. It is NOT ok to spread the wealth. Forceably taking someone elses money away from them would be a crime to anyone but the government.

It's cute how you ignored the rest of my post. How long have you worked a job? If you've worked you've paid into this system day one on the job. Why is it such a problem now? Do you REALLLLLLY think McCain is going to do away with this system? And the tax credit was started by a REPUBLICAN president - did you know that? Yes the great Ronald Reagan. It is funny to watch posters, bloggers, and talk radio blast this tax system that hadn't even accured to them until a few a weeks ago. They are mad at Obama - but praise RR for coming up with the tax credit.

 

[Galahad]

If you've worked you've paid into this system day one on the job. Why is it such a problem now?

What does this mean? I'm not sure I understand what you're getting at. Payroll tax and income tax are not the same thing. It still doesn't make sense to get a refund of income tax you haven't paid simply because you have paid payroll tax. Having paid taxes in the past hardly hold water with the IRS if you owe taxes now. Why should it hold water if you don't owe taxes.

I have less problem with the existance of the EITC than I do the refusal to call it what it is. Eliminating welfare will never and should never happen. Refusing to identify assistance as assistance, for whatever reason, seems counter productivf in a number of ways.

 

[SteveInBrooklyn]

A nation as rich and powerful as America should have no working poor. I believe that if an American works hard he has a right to a living wage, a roof over his head, enough food to eat, and good health care should he get sick.

 

[Master Mason]

It's cute how you ignored the rest of my post. How long have you worked a job? If you've worked you've paid into this system day one on the job. Why is it such a problem now? Do you REALLLLLLY think McCain is going to do away with this system? And the tax credit was started by a REPUBLICAN president - did you know that? Yes the great Ronald Reagan. It is funny to watch posters, bloggers, and talk radio blast this tax system that hadn't even accured to them until a few a weeks ago. They are mad at Obama - but praise RR for coming up with the tax credit.

How long have you worked exactly? Income taxes and payroll taxes are not one and the same. Payroll taxes are to fund medicare and social security, something that (at least in theory) everyone will get some pay out from. Income taxes fund the governement, When you pay no income taxes, you should not get a refund on Income taxes, full stop.

ETA: Just because something is happening now, or has happened in the past, does not mean that I need to support it happening more or again. As for your comment about who did what or supported what in the past, well in the 50's it was the democrats that were opposed to civil rights, does that mean that you should support not giving civil rights because the dems used to support that as well? See the falicy of your agruement?

 

[SeeVee]

What incentive does anyone have to do better for themselves? Because they want better. Ensuring people have the essentials in life doesn't take away their incentive to do better, because people want more from life than the bare essentials.

That is so cazy.

If I work harder, I make more money=incentive.
If I work harder, I make less money =disincentive
If I dont work enough, they'll give me someone elses money=disincentive.

Your attitude is so infuriating to those of us who worked our rear ends off to get where we are. Once again, I work 65-70 hours a week. During that time, I managed to earn two degrees. I didnt get in trouble with the law. I didnt spawn my seed several times over. I did not overextend my self with car or house payments. Excuse me for resenting the fact that you want to take MY money to give to someone else who wont do the same.

 

[SeeVee]

It's cute how you ignored the rest of my post. How long have you worked a job? If you've worked you've paid into this system day one on the job. Why is it such a problem now? Do you REALLLLLLY think McCain is going to do away with this system? And the tax credit was started by a REPUBLICAN president - did you know that? Yes the great Ronald Reagan. It is funny to watch posters, bloggers, and talk radio blast this tax system that hadn't even accured to them until a few a weeks ago. They are mad at Obama - but praise RR for coming up with the tax credit.

Instead of taking what some left wing nut posted on a web site as the gosphel, do a little research yourself. The EITC was started in 1975 (under Nixon Correction - FORD) as a temporary measure to assist families to offset ss taxes. In 1978 (under Carter) it was made permanent. In 1986, Reagan continued it and declared that millions of "poor" families had been help as a result. It was expanded even more in 1993 and 1998

http://www.taxpolicycenter.org/publications/url.cfm?ID=1000524

In my opinion, it was wrong from the beginning and gets "wronger" everytime it gets expanded. Just by virtue of the fact that it keep getting expanded is proof positive that it did not/does not work.

 

[Galahad]

The EITC was started in 1975 (under Nixon)

If it was 1975 wouldn't it have been Ford?

 

[SeeVee]

If it was 1975 wouldn't it have been Ford?

You are correct! Sorry!