Page 1 of 3 123 LastLast
Results 1 to 10 of 25

Thread: Repay Obama tax credit ?

  1. #1
    User
    Join Date
    Feb 2009
    Last Seen
    07-22-11 @ 04:58 PM
    Lean
    Undisclosed
    Posts
    58

    Repay Obama tax credit ?

    WASHINGTON (AP) -- Millions of Americans enjoying their small windfall from President Barack Obama's "Making Work Pay" tax credit are in for an unpleasant surprise next spring.

    The government is going to want some of that money back.

    The tax credit is supposed to provide up to $400 to individuals and $800 to married couples as part of the massive economic recovery package enacted in February. Most workers started receiving the credit through small increases in their paychecks in the past month.

    Continue
    INSIDE WASHINGTON: Taxpayers to get rude surprise - Yahoo! Finance

  2. #2
    Equal Opportunity Hater
    obvious Child's Avatar
    Join Date
    Apr 2008
    Location
    0.0, -2.3 on the Political Compass
    Last Seen
    12-09-14 @ 11:36 PM
    Lean
    Other
    Posts
    19,883

    Re: Repay Obama tax credit ?

    Honestly, is this really new?

    Virtually every contemporary tax cut will need to be repaid. Especially those taken out with debt. At least there's a little bit more honest and a bit more timely. God knows that we're on the line for billions if not trillions in debt finances tax cuts accrued over the last decades. If one was smart, they'd take the money they got from the tax cut and put it into an appreciating property specifically to pay back that tax cut in the future.

    Excuse me if I'm jaded, but when one gets down into the accounting, these contemporary tax cuts are really just loans.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  3. #3
    Banned
    Join Date
    Jun 2008
    Location
    Canada
    Last Seen
    12-26-10 @ 06:57 PM
    Gender
    Lean
    Independent
    Posts
    8,083

    Re: Repay Obama tax credit ?

    OC, you took the words out of my mouth.

    How can a tax credit based on a loan be sustainable? It simply can't be.

  4. #4
    Professor
    WillRockwell's Avatar
    Join Date
    Jan 2009
    Last Seen
    07-10-10 @ 09:48 AM
    Gender
    Lean
    Undisclosed
    Posts
    1,950

    Re: Repay Obama tax credit ?

    this is a misleading article with an inflammatory headline.

  5. #5
    Defender of the Faith
    ludahai's Avatar
    Join Date
    Apr 2005
    Location
    Taichung, Taiwan - 2017 East Asian Games Candidate City
    Last Seen
    07-03-13 @ 02:22 AM
    Gender
    Lean
    Very Conservative
    Posts
    10,320

    Re: Repay Obama tax credit ?

    Quote Originally Posted by WillRockwell View Post
    this is a misleading article with an inflammatory headline.
    How so? People WILL have to repay some of the credit people THINK they are getting because of flaws in the withholding system.
    Semper Paratus
    Boston = City of Champions: Bruins 2011; Celtics 2008; Red Sox 2004, 2007; Patriots 2002, 2004, 2005
    Jon Huntsman for President

  6. #6
    Professor
    WillRockwell's Avatar
    Join Date
    Jan 2009
    Last Seen
    07-10-10 @ 09:48 AM
    Gender
    Lean
    Undisclosed
    Posts
    1,950

    Re: Repay Obama tax credit ?

    Quote Originally Posted by ludahai View Post
    How so? People WILL have to repay some of the credit people THINK they are getting because of flaws in the withholding system.

    If you pay taxes next year, are you "repaying" your tax credit?

  7. #7
    Banned Goobieman's Avatar
    Join Date
    Feb 2006
    Last Seen
    03-22-15 @ 02:36 PM
    Gender
    Lean
    Very Conservative
    Posts
    17,343

    Re: Repay Obama tax credit ?

    Quote Originally Posted by ludahai View Post
    How so? People WILL have to repay some of the credit people THINK they are getting because of flaws in the withholding system.
    Don't bother. WR isnt interested in having a legitimate conversation.

    The tax code does all kinds of funny things, some planned and some not. The real 'crime' here is the manner in which the tax cut manifests itself - $13/week for the rest of the year. That's just silly.

  8. #8
    Tavern Bartender
    Constitutionalist
    American's Avatar
    Join Date
    Mar 2006
    Location
    Virginia
    Last Seen
    Today @ 10:15 AM
    Gender
    Lean
    Conservative
    Posts
    76,271

    Re: Repay Obama tax credit ?

    Quote Originally Posted by Goobieman View Post
    Don't bother. WR isnt interested in having a legitimate conversation.

    The tax code does all kinds of funny things, some planned and some not. The real 'crime' here is the manner in which the tax cut manifests itself - $13/week for the rest of the year. That's just silly.
    The real crime here is the tax code.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  9. #9
    Sage
    Renae's Avatar
    Join Date
    Aug 2007
    Location
    San Antonio Texas
    Last Seen
    10-23-17 @ 10:14 PM
    Gender
    Lean
    Undisclosed
    Posts
    38,972
    Blog Entries
    15

    Re: Repay Obama tax credit ?

    Quote Originally Posted by WillRockwell View Post
    this is a misleading article with an inflammatory headline.
    Care to elaborate as to why you make this... ehem claim?


    Is there some factual foundation for it?
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  10. #10
    User
    Join Date
    Feb 2009
    Last Seen
    07-22-11 @ 04:58 PM
    Lean
    Undisclosed
    Posts
    58

    Re: Repay Obama tax credit ?

    We took that "gift from "o" and immediately took it off of the weekly paycheck to send right back to him..Figured there was going to be a "give back" somewhere along the line.

Page 1 of 3 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •