Is anybody else as upset about this as I am-

[Maray]

Not a debate - just wondering ?

Last Minute Deal Eliminates Tax Credits for Poor Kids
So Millionaires Can Have Bigger Tax Cuts
Urge Congress to Undo This Immoral Act
If you are already a member of TrueMajority, click "Reply" and then "Send," and a fax (text below) will be sent to your Senators and Representative, urging them to ensure that low-income parents receive a $400-per-child tax refund just like wealthier parents. If this message was forwarded to you or if you'd like to edit your letter, click this link and then follow the instructions to send your faxes.

http://www.truemajority.com/index.asp?action=10021&ms=txcrt1&ref=131679


AUTH (c) 2003 The Philadelphia Inquirer. Reprinted with permission of UNIVERSAL PRESS SYNDICATE. All rights reserved.
So here is the scene: A handful of Republican leaders from the House and Senate were holed up in a conference one weekend trying to hammer out the final details of the tax cut, but they've got a problem. They'd like to give more money to millionaires, but were bound by a pledge to cap the tax cuts at $350 billion.

Then suddenly, "Eureka! We can just amend it so that the poorest families don't get the new $400-per-child tax credit available to richer families. That will leave billions for deeper cuts in dividend and capital gains taxes." So, after a last-minute wording change, the bill was quickly passed by both houses and signed by the President last week. What a disgrace. In the end, people earning over $1 million will bring home an average of $93,000 extra this year while a single mother of 2 struggling to make ends meet on $18,000/year will get no help.

These huge tax cuts are a bad idea, but what really galls me is thinking about that moment when somebody in Congress offered up this latest idea to take from the poor to give to the rich, and a majority said "sure." These are not the American values I was raised with.

A lot of us are making a stink, and this one could get turned around. To send your faxes urging your Senator and Representative to amend the Bush tax cut to include the children of low-income families, click "Reply" and then "Send." Or click on the link below.

http://www.truemajority.com/index.asp?action=10021&ms=txcrt1&ref=131679

Then please forward this to anyone else you think believes in basic fairness.

Sincerely,

Ben Cohen
President, TrueMajority.org
Co-Founder, Ben & Jerry's Ice Cream*
* I am writing this email on my own and not on behalf of Ben & Jerry's, which is not associated with the TrueMajority campaign.

Here's the letter we'll send to your Senators and Representative:

Dear Senator/Representative:

Our government should stand for basic fairness and justice.
That's why I do not understand why families earning between $10,000 and $26,000 per year would be excluded from receiving the $400-per-child tax refund that wealthier families will receive this summer just so millionaires can get bigger tax cuts.

As a constituent I ask you to please amend President Bush's unfair tax cut plan to include these poor families and their 12 million kids. To leave the tax cut as it is brings too much shame upon this great nation.

Sincerely,
(We'll put your name and address here)

 

[disneychrista]

If you are already a member of TrueMajority, click "Reply" and then "Send," and a fax (text below) will be sent to your Senators and Representative, urging them to ensure that low-income parents receive a $400-per-child tax refund just like wealthier parents.

How can you refund a tax that the low-income parents are not paying?? Those parents with "low-incomes" get the Earned Income Credit and a refundable Child tax credit. Those with incomes between $10,000 - $26,000 do not earn enough to owe tax, so they would not be able to use the child tax credit. Zero tax owed - $400 = zero tax owed. Giving them this $400/child now, could lead them to oweing $$ in 2004 (on their 2003, income tax returns).

I am one of those who will not see the full $400 per child. My income is only slightly over the $26,000/yr. While I would love to receive $800 this summer, I understand why I won't.

 

[kejoda]

Well you know we gotta keep the rich people rich.

Thanks for posting this Maray, I'll be signing up to for this.

 

[disykat]

My understanding of the tax credit for kids is that if you pay taxes you get the credit. Do you mean that you want poor families to get "refunded" money they haven't paid?

According to my tax booklet from this year's taxes you didn't qualify for a reduction only if you had no taxes to reduce.

 

[WebmasterAlex]

I did a little looking around on this, apperantly the ones who will not get the credit are families that are paying little or no income tax in the first place.

The White House defended the decision, arguing that tax cuts should benefit taxpayers, not low-income families who pay little or no taxes. White House spokesman Ari Fleischer said that under the new tax reduction, three million people who used to pay taxes no longer will have to pay. He questioned whether those individuals should get even more, in the form of a child tax credit payment.

"That, in the end, is a redistribution of income; that is public assistance above and beyond what people pay in their income taxes," he said.


I'm not saying whether it is right or wrong, just that the site you got that article from only wants to present one side of the issue.

 

[jfulcer]

But, uh.... those making between 10k and 26k pay little or no tax. I agree with the previous poster that if they get a payment, they may actually owe on next year's taxes.

I won't be signing up for this. I think the 'true majority' should read <i>all</i> the small print.

 

[disneefamily]

Disnee Dad Says...........................................I won't argue the point, but how do you give a tax cut to someone who pays no income tax, and because of the EIC (which is a good thing), actually pays a negative income tax, as in they get back more than they pay?

You can not argue for a tax cut for someone who who doesn't pay income tax, it is an impossibilty. You can argue the system needs to be changed, brackets changed, standard deduction enlarged.

Fact is a family of four making $30,000 will pay ZERO income tax and will get EIC refund of $875.00

BTW That poor mom, is certainly struggling. But she will pay ZERO INCOME TAX, AND WILL GET AN EIC CHECK IN THE MAIL FOR $3,191 dollars, plus any withholding taken out.

How does someone paying -3191 in taxes, get a tax cut?
Fact, is the liberals don't want you to know the whole truth, it doesn't sound quite as compelling.

Don't get me wrong, I think the EIC is a smart plan. It's just if the government is going to give back some of OUR money back to US, they should give it to the people that sent it in in the first place.

 

[KimRaye]

Originally posted by disneefamily
Disnee Dad Says.... It's just if the government is going to give back some of OUR money back to US, they should give it to the people that sent it in in the first place.

This is essentially exactly what I agree with. My SIL mentioned the other thing about low-income families not getting this refund but, based upon the little I knew, all I could say to her was, if they didn't pay taxes (exceeding that amount), they shouldn't get back what they didn't pay.

I KNOW it would be a HUGE help to those in the lower income bracket but, the refund's not a benefit imo, it's about REFUNDING to those who paid.

And, every year, I see the EIC and, we don't get that deduction so, if someone eligible for EIC is getting a check for $3,191 (the example posted), that's a heck of a lot more than we get as a one-income family of four, paying taxes. I'll take my $800, thank you very much!

 

[Jeff in BigD]

Originally posted by jfulcer
But, uh.... those making between 10k and 26k pay little or no tax. I agree with the previous poster that if they get a payment, they may actually owe on next year's taxes.

I won't be signing up for this. I think the 'true majority' should read <i>all</i> the small print.

I couldn't have said it better myself.

 

[Mermaid02]

Agreeing with JFulcer, among others..... sorry but if you pay no tax and/or get EIC..... you shouldn't get the check.

 

[Mamu]

Tax cut, Tax credit. All I know is pay, pay, pay. Something is wrong here. We work just as hard as everyone else.

I can only tell you 1/4 of our earnings went to taxes. Thats a lot of money and we still had to pay on the 15th. I work a whole year, plus, just to pay the government.

 

[jrmasm]

Is anybody else as upset about this as I am-

Um, NO!

Ditto what all the others said. You gotta pay to get a refund.

 

[Ranatra]

No, I am not upset at all.
I thoroughly researched it and made sure I understood it.
But I have to agree with Alex. The site you got the article from is putting their slant on it.

 

[Cindy B]

I work with a few single mothers. We were discussing this tax cut yesterday, and while, yes, they could use the $400/$800 (one woman has one child another two)..they do realize with the EIC, they pay zero tax.

Thier refunds are in the thousands of dollars, so they do understand not getting it. Would they like it? I'm sure they would, but they completely understand why they won't.

 

[Mskanga]

No disrespect to anyone, but no I am not upset.
For years ( before this child tax credit ever came along ) , richer families ( we never knew we are one of them ) , could never take any EIC, and the deduction standard allowances were not enough to get some relief for us. For many years we were just happy to break even and not have to pay even more, I am happy to see that the government finally decided to stick up a bit for the richer families ( according to their standards ) and give us some relief. I bet all those years that other people were taking advantage of the EIC ( in the good sense of the word ) , did not get upset for those who could not take it and were paying much more in taxes.
BTW, if we are considered to be a richer family , how comes I still have to think which bill am I going to pay this week?
What they should do is raise the minimum salary, that's what they should do!

 

[Redmic]

If you do not pay taxes you cannot a tax cut. That is just common sense.

What you are advocating is income redistribution. That is a separate debate. Personally, I believe taxes are too high and are glad to see that they are being reduced.

 

[Indyman]

I'm not angry about this at all. Nothing is being taken away from the poor, as the article states. It's just liberals putting their typical spin on this bill.

 

[wvjules]

I have a question. I'm one of those lowly single mom income's that's barely making it. (Well, I was until I was unemployed.) But last year I cashed in my 401K which ended up putting me over the EIC limit not to mention the fact that I had to pay $836 federal taxes. So I didn't get to claim the EIC, but I did (I think) get the Child Tax credit. So, if I get a refund of $400, I'll end up owing next year AGAIN????? If that's the case, then I don't want the money. I don't want to have to pay next year.

 

[SilverLily]

I can't believe people fall for everything they read without researching it a little more.

I agree with everyone else. No, you shouldn't get a refund if you didn't pay!

 

[jfulcer]

Originally posted by Mamu
Tax cut, Tax credit. All I know is pay, pay, pay. Something is wrong here. We work just as hard as everyone else.

I can only tell you 1/4 of our earnings went to taxes. Thats a lot of money and we still had to pay on the 15th. I work a whole year, plus, just to pay the government.

Welcome to the United States overtaxing club.

You should get with your employer and have them take a little more out each paycheck so that you don't have to pay. We have them take out a little extra every month and we ended up getting about a $100 refund this year. I know I know, it's taking more than that 25%, but then you're not socked with a huge tax payment.