Tax Cuts

[Snaggletooth]

One of the candidates pledges a tax cut for 95% of taxpayers. Really sounds good.

For a family of four (with the children eligible for CTC), a typical wage-earner actually has no taxes until the family income exceeds $36K or thereabouts. Not sure of the exact demographics in rural Tennessee, but I'm sure there are at least 35-40% of households in my town whose income does not exceed this amount.

Can anyone tell me how 95% of taxpayers are going to get a tax reduction when they don't have any taxes to begin with?

[Jiggers]

Tax Cuts for those that don't pay taxes????

One of the candidates pledges a tax cut for 95% of taxpayers. Really sounds good.

For a family of four (with the children eligible for CTC), a typical wage-earner actually has no taxes until the family income exceeds $36K or thereabouts. Not sure of the exact demographics in rural Tennessee, but I'm sure there are at least 35-40% of households in my town whose income does not exceed this amount.

Can anyone tell me how 95% of taxpayers are going to get a tax reduction when they don't have any taxes to begin with?

I agree. I see too many who get refunds and no taxes paid. How can they reduce their taxes?

That has been the lie of one of the cadidates.

Unfortunately, those same people think they do pay taxes and are due more refunds.

Idiots, and voters, unfortunately.

If they want to really spur the economy, how about investment tax credits again? But this time make them for United States made products only. U S made vehicles, equipment, etc.

[ED SMITH]

Hmm! Let's see-the other 5%. Aren't they paying over 50% of all personal income tax collected? So I guess a little more won't hurt.

Since nearly 50% of "taxpayers" don't pay any taxes and many get EIC, welfare by any other name, they have no interest in tax cuts, but do have an interest in seeing taxes raised on the other 50%. So who do you think they are going to vote for?

It was a mistake, fostered by both parties, to increase the number of people who don't have to pay taxes, thus creating an incentive for these people to support whoever is going to tax the other guy.

IMO, if you don't pay taxes, you don't get to vote.

[ChEAr$]

Typical family of four

One of the candidates pledges a tax cut for 95% of taxpayers. Really sounds good.

For a family of four (with the children eligible for CTC), a typical wage-earner actually has no taxes until the family income exceeds $36K or thereabouts. Not sure of the exact demographics in rural Tennessee, but I'm sure there are at least 35-40% of households in my town whose income does not exceed this amount.

Can anyone tell me how 95% of taxpayers are going to get a tax reduction when they don't have any taxes to begin with?

whose children are under 17, don't have an income tax liability (regular situations) until
after 43,000$!

Now if I were King, they wouldn't get a tax cut, which in all probability will be an
extra rebate amount, sort of like earned income credit, but based only on income.

That sounds like "discrimination... unLESS.... I get one too.

[ChEAr$]

Voting

(snipped for brevity....).

IMO, if you don't pay taxes, you don't get to vote.

Sounds like a plan. To check in to vote, bring a notarized copy of your tax return.

[Gary]

Other Candidate

And I heard the other candidate respond that 100% of the taxpayers would get a tax cut under his administration. They are all full of it. Besides, as we all know, the President doesn't determine the tax laws.

[DTS]

One of the candidates pledges a tax cut for 95% of taxpayers. Really sounds good...Can anyone tell me how 95% of taxpayers are going to get a tax reduction when they don't have any taxes to begin with?

It's my understanding that this will be accomplished through p/r withholding, at least that is what that the surrogate for the candidate who proposed this says.

No w/h, no refund. Someone is going to be really mad around April 15th.

[ChEAr$]

words of wisdom heard today:

Don't leave your dog in charge of your food, nor
congress to watch over you money.

[David1980]

pledges a tax cut for 95% of taxpayers.

You could make the argument that the person who is not paying any tax isn't a taxpayer.

[BHoffman]

Be a Patriot

http://www.youtube.com/watch?v=UCqgNWRjmAc&feature=related

[VT-EA]

To see how the tax plans compare fill in this blankety-blank blank.

http://www.electiontaxes.com/

[FEDUKE404]

Playing word games

The version I heard is that part of the "tax cut" mentioned by Sen. Obama actually refers to a bunch of people who ALREADY have no federal income tax liability. These folks would have more money given to them in a procedure not unlike an "enhanced" earned income tax credit.

I do think it is an interesting point as to whether folks with zero income tax liability 1) can receive a "tax cut" in the first place and/or 2) can be called "taxpayers" at all.

FE

[erchess]

I used to beat my head

against the desk when I worked in an EIC shop. Now please understand that I am for the EIC but I wish it were not part of the tax system and were instead administered by the local DSS or even the local United Way. But I digress.

If someone had no tax I would say "Because your income was low this year you are not paying any tax. You are getting back your withholding of X and getting Y additional from society because we appreciate the fact that you worked."

If someone had tax I would say "Congratulations! You are a taxpayer! You are paying X in tax but because you had Y withheld and Z from society because you have to support a child (or children) your refund is A." I met no end of confusion from the latter group because their definition of "Taxpayer" was "Anyone who files a Tax Return" and of course they did not distinguish between "Tax Return" and "Request for Refund".

I actually developed a clientele of people who slowly changed their attitudes and their behavior. I had to talk one fellow out of going back on the factory line the year he got promoted to supervisor and no longer got EIC. But I showed him how his total income even with the increased tax burden had gone up and he went away happy. Well the next year he was the second highest supervisor in the plant and the next year was his last with me because he spent a year working that job in different plants around the country as part of a process of grooming him to become the top person at a new plant they were building somewhere. This man had his GED but his children all went to college and professional school. I still hear from him every once in a while even though I have moved.

[David1980]

I'd love to see EIC separated from CTC.

Well, obviously those are two separate credits but you know what I mean. If part of the money is for the kid then the kid should get the money regardless of whether the parent works. If on the other hand it's a reward for the parent for working it shouldn't matter if they have kids or not. So I'd like to see EIC ignore the number of children one supports.. no, that's not the right word. I'd like to see EIC ignore the number of children one claims.

[taxea]

Tax Cuts

This is all just a big "maybe". I choose to believe that the new prez can't make good on any "if elected I will" promises without the agreement of congress. I'll believe it when the law/s are passed and not concern myself or believe it until then.taxea