Hey Wiffle, where are these "Tax Cuts" you keep talking about?

[gocolts 300]

~40

[Rattlesnake 0]

We just got our taxes back today, and this is the most we've ever gotten back from federal and state........and we made more money than last year due to my wife working more last year.

 

[Recliner Pilot 61]

Let's break down the largest of the "tax cuts" from Wiffle's link:

 

Tax cuts for individuals: $116B

 

Provide a tax credit at a rate of 6.2 percent of earned income (after federal taxes are taken out), up to $400 for individuals and up to $800 for couples, in 2009 and 2010. The credit begins to phase out at income levels of $75,000 for individuals and $150,000 for married couples filing jointly. Since the credit is “refundable,” people with no federal income-tax liability will get money back.

 

Temporary. Gone after 2010, phased out if you make too much. Welfare if you don't pay income taxes (about 40% of America). How much of the $116B is actually welfare? Maximum amount: $400 for individuals, $800 for couples. That Obama is a slick one.

 

Yep, that one time $400/$800 is really gonna stimulate the economy.......just look at what happened last year when Bush sent out his one time credit.......wasn't it larger than this? Not sure, but it didn't seem to do much.

 

The rest are just BS "If you jump through this hoop you may get a one time credit for doing what Obama thinks you should do" smoke and mirrors.

 

 

Add them all up and it still isn't even close to half of the Porkulus bill's cost of $800 billion. Factor in the interest on the bill pushing it to over $2 trillion and your figure gets even smaller

 

Nice job Wiffle.

 

ETA: And this was the NYT's spin on the plan. We all know how they love to print the truth.

[GettnHuge 1]

We just got our taxes back today, and this is the most we've ever gotten back from federal and state........and we made more money than last year due to my wife working more last year.

 

 

good luck next year.

 

lol what am I saying, that's not how Osama taxes will work. You could get back even more next year!

 

too bad you'll end up paying many times that in new taxes on your electric bill, heating bill, on gas, on everything you buy, every mile you drive...