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Thread: GOP plan to extend tax cuts for rich adds $36 billion

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by Goldenboy219 View Post
    You can back this up. I am not making a judgment call, only setting the record straight. To state that a person making $50k gross/year pays zero federal taxes is of course absurd (and displays your desire to make things up to suit your ideology).
    By the way, what is my ideology? I find it interesting how you seem to care how much someone else pays in taxes or how much someone else makes. If you guessed that my ideology was that you should be able to keep more of what you earn and that keeping more of what you earn makes you less dependent on the govt. then you would be right. You see I don't care how much you make so why should you care how much I or anyone else makes and pays in taxes. Signaling out a particular class to target tax increases at is a violation of the very principles upon which our economy was built, individual wealth creation and guaranteed equal opportunity, not guaranteed equal outcome.

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by winston53660 View Post
    From your article:


    So you should love Obama for cutting taxes.
    How do you cut Federal Income taxes for people who do not pay any Federal Income Taxes or the 16 million unemployed that don't have an income?

    Obama tax cuts

    Tax cuts

    Total: $288 billion

    Tax cuts for individuals

    Total: $237 billion
    • $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[29]
    • $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[29]
    • $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
    • $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
    • $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[41]
    • $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
    • $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
    • $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
    • $1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by Conservative View Post
    How do you cut Federal Income taxes for people who do not pay any Federal Income Taxes or the 16 million unemployed that don't have an income?

    Obama tax cuts

    Tax cuts

    Total: $288 billion

    Tax cuts for individuals

    Total: $237 billion
    $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[29]
    $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[29]
    $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
    $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
    $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[41]
    $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
    $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit which provides money to low income workers for families with at least three children.
    $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
    $1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.

    So you are against tax cuts now?

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by winston53660 View Post
    So you are against tax cuts now?
    Not at all, love tax cuts that is why I support full extension of the Bush tax cuts.

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by Conservative View Post
    Not at all, love tax cuts that is why I support full extension of the Bush tax cuts.
    And you should applaud Obama for cutting taxes to the middle class

    Also from your article:
    In recent years, credits for low- and middle-income families have grown so much that a family of four making as much as $50,000 will owe no federal income tax for 2009, as long as there are two children younger than 17, according to a separate analysis by the consulting firm Deloitte Tax.

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by winston53660 View Post
    And you should applaud Obama for cutting taxes to the middle class

    Also from your article:
    So a rebate check is a tax cut in your world? Bush cut tax rates, Obama gave a one time tax cut spread over the year.Brilliant liberal economic policy, LOL. Those still working today are benefiting from the Bush tax cuts, not so the Obama cuts.

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by Conservative View Post
    So a rebate check is a tax cut in your world? Bush cut tax rates, Obama gave a one time tax cut spread over the year.Brilliant liberal economic policy, LOL. Those still working today are benefiting from the Bush tax cuts, not so the Obama cuts.
    Oh so now you are against tax cuts again....Sure do you wish you would make up your mind if you are for or against tax cuts,

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by winston53660 View Post
    Oh so now you are against tax cuts again....Sure do you wish you would make up your mind if you are for or against tax cuts,
    keep up the good work!

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by randel View Post
    keep up the good work!
    LOL, liberals sure cheerlead each other a lot. Still waiting for why anyone believes projections that expiration of the Bush tax cuts will generate another 36 billion for the Treasury? Cheerleading false or misleading information is what liberals always do. Must be a cult!

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by Conservative View Post
    LOL, liberals sure cheerlead each other a lot. Still waiting for why anyone believes projections that expiration of the Bush tax cuts will generate another 36 billion for the Treasury? Cheerleading false or misleading information is what liberals always do. Must be a cult!
    good afternoon conservative....so which is it, tax cuts good or bad? make up your mind....

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