Tax Rebates

[Made in the USA]

www.kansascity.com | 01/24/2008 | Tax rebates at center of stimulus package

Let's see, we borrow 150 billion from China to send out all these tax rebates to US consumers; who in turn run to Walmart and buy Made in China goods. Now, whose economy is this supposed to help??

[Tee]

The stimulus bill will go to the House next week, then go on to the Senate, where some Democrats hope to add elements such as extending unemployment benefits for workers whose benefits have run out.

Not sure how keeping lazy people lazy a little longer helps the economy.

If you can't find a job within 6 months, then you ain't looking too damn hard!

[Army_of_One]

Originally Posted by Tee

Not sure how keeping lazy people lazy a little longer helps the economy.

If you can't find a job within 6 months, then you ain't looking too damn hard!

I would agree...I wonder how much of the tax rebate will go on lottery tickets and booze for some people?

[brownsugar]

I'll take my rebate and take a vacation to arizona to see family, hell I haven't had one in ten years.

[wordsmythe]

Originally Posted by Army_of_One

I would agree...I wonder how much of the tax rebate will go on lottery tickets and booze for some people?

Does it matter? They want the money spent not saved.

[Highwayman]

The government passing out money is a reminder that they are still taking too much of our money in the first place and they know it.

While I’m all for anything that gets our money back to us and out of Washington, this tax rebate is just a band-aid. What needs to be done is to make the tax cuts permanent. Small business and other employers are looking ahead with uncertainty about their tax burdens and will hold off hiring new employees or investing in updated equipment. Permanent tax cuts will give business the breathing room to grow and create more jobs.

[Bubba]

Partially correct, tax cuts need to be permanent, BUT...the tax cuts need to be cut for the low-income and middle class families. Not, the way it is now, being tax advantages for the rich and big businesses.

[Army_of_One]

Originally Posted by Bubba

Partially correct, tax cuts need to be permanent, BUT...the tax cuts need to be cut for the low-income and middle class families. Not, the way it is now, being tax advantages for the rich and big businesses.

Why should wealthy people pay a higher percentage in taxes? Why do you think someone should be punished by a higher tax bracket for being successful? What DO you think wealthy people do with their money and what do you think they would do with it if they had MORE of it via tax cuts?

[K C Muffin]

Sometimes ya just don't know how lucky ya are....we won't qualify for one. My vacations are generally business trips and I'm not one that enjoys flying or hotels on "free" time. I'd lots rather drive to Lake of the Ozarks, stay in a nice condo, eat out, shop, take nature walks and veg.

[Bubba]

Originally Posted by Army_of_One

Why should wealthy people pay a higher percentage in taxes? Why do you think someone should be punished by a higher tax bracket for being successful? What DO you think wealthy people do with their money and what do you think they would do with it if they had MORE of it via tax cuts?

That is just it, the wealthy may pay more dollars in taxes than the lower income people and the middle class, but the percentage they pay is less because of all the loopholes, credits, deductions and write-offs.

Here is what I have posted before in another thread...

Put simply, the rich pay a lot of taxes as a total percentage of taxes collected, but they don’t pay a lot of taxes as a percentage of what they can afford to pay, or as a percentage of what the government needs to close the deficit gap.

Mr. Buffett compiled a data sheet of the men and women who work in his office. He had each of them make a fraction; the numerator was how much they paid in federal income tax and in payroll taxes for Social Security and Medicare, and the denominator was their taxable income. The people in his office were mostly secretaries and clerks, though not all.

It turned out that Mr. Buffett, with immense income from dividends and capital gains, paid far, far less as a fraction of his income than the secretaries or the clerks or anyone else in his office. Further, in conversation it came up that Mr. Buffett doesn’t use any tax planning at all. He just pays as the Internal Revenue Code requires. “How can this be fair?” he asked of how little he pays relative to his employees. “How can this be right?”

Even though I agreed with him, I warned that whenever someone tried to raise the issue, he or she was accused of fomenting class warfare.

“There’s class warfare, all right,” Mr. Buffett said, “but it’s my class, the rich class, that’s making war, and we’re winning.”

http://www.dodgeboard.com/forums/new...hlight=Buffett