State of the Union 2012

[ideliver]

Not only do they pay no income tax, all of their social security tax and Medicare tax get refunded via the "earned income credit"

Also, the EIC is "refundable" meaning that you fan get out more than you pay in.

So, if you had $1000 in federal tax withheld and another $1500 in FICA, you can still get the full EIC back ($5000 average... Google for the various amounts)

So, many get a check from the government of the real tax payers $$$

[Echo M3]

Originally Posted by ideliver

oh lawd...here we go again....plain and simple...if we taxed all income at 100% over $250,000/yr...we still have a deficit

we don't have a revenue problem, we have a spending problem...

Also, if you raise taxes on CG to 30% you will see the stock market implode as hedge funds run for the hills for more tax efficient investments...and you will see everyday citizens 401k and pensions take a HUGE hit...

Try to "soak the rich" you end up fcuking everyday people...

Also, when CG was cut to 15%....the tax revenue increased....care to hazzard a guess why???

Finally, someone who knows what the Laffer curve is.

[mspeasl]

Originally Posted by ideliver

Not only do they pay no income tax, all of their social security tax and Medicare tax get refunded via the "earned income credit"

Also, the EIC is "refundable" meaning that you fan get out more than you pay in.

So, if you had $1000 in federal tax withheld and another $1500 in FICA, you can still get the full EIC back ($5000 average... Google for the various amounts)

So, many get a check from the government of the real tax payers $$$

Easy now... You're getting border line. I would hate to see the rath coming your way if you are perceived to have crossed over.

[ideliver]

Originally Posted by mspeasl

Easy now... You're getting border line. I would hate to see the rath coming your way if you are perceived to have crossed over.

"they" and "their" are the 50% of the population that pay no income tax...

[mspeasl]

Originally Posted by ideliver

"they" and "their" are the 50% of the population that pay no income tax...

But thats not what you said in your post. What you mean and what others perceive you ment maybe two different things. Don't you agree..?

[ideliver]

Originally Posted by txz4

EXACTLY!! Lets also not forget how the tax system breaks down, Something like 47% of Americans pay 0% effective in taxes... Wait a minute i guess that guy was right, maybe we do have an income problem

Originally Posted by ideliver

Not only do they pay no income tax, all of their social security tax and Medicare tax get refunded via the "earned income credit"

Also, the EIC is "refundable" meaning that you fan get out more than you pay in.

So, if you had $1000 in federal tax withheld and another $1500 in FICA, you can still get the full EIC back ($5000 average... Google for the various amounts)

So, many get a check from the government of the real tax payers $$$

Originally Posted by ideliver

"they" and "their" are the 50% of the population that pay no income tax...

Originally Posted by mspeasl

But thats not what you said in your post. What you mean and what others perceive you ment maybe two different things. Don't you agree..?

I really fail to understand your comments..."THEY" is a plural pronoun that clearly references the post just above/below...where is your mind at??

Words have meanings...the meanings are clear as written...

Do you have anything constructive to add to the discussion about tax policy/Laffer curves/refundable tax credits???

[MidwestGolfBum]

Originally Posted by mspeasl

But thats not what you said in your post. What you mean and what others perceive you ment maybe two different things. Don't you agree..?

As a complete outsider, I understood completely what he was referring to.

Continue the regularly scheduled thread.

[mspeasl]

Originally Posted by ecjohnston

As a complete outsider, I understood completely what he was referring to.

Continue the regularly scheduled thread.

THANK YOU..............!!

Now as you said, Lets "Continue the regularly scheduled thread."

[ideliver]

Originally Posted by mspeasl

THANK YOU..............!!

Now as you said, Lets "Continue the regularly scheduled thread."

"he" is me...lol

[ghosthi32]

Originally Posted by ideliver

"he" is me...lol

reading comprehension fail on his part

[mspeasl]

Originally Posted by ideliver

"he" is me...lol

That statement is not worth responce and I'm sorry this thread was hijacked

[NYCGP]

Originally Posted by mspeasl

That statement is not worth responce and I'm sorry this thread was hijacked

Paint chips or Power lines...?

[Templar]

Originally Posted by NYCGP

Paint chips or Power lines...?

Both, at the same time.

[ghosthi32]

Originally Posted by NYCGP

Paint chips or Power lines...?

aliens

[ecleland]

Originally Posted by txz4

Bad economy?

no problem. Were just going to pass legislation to further put a negative outlook on businesses that arent doing that well due to the recession.


we have a spending problem.... simple as that. We push the wellfare state, we want everyone to live the American dream (white picket fence) and then say, "oh it wasnt our fault all of these people defaulted on loans they couldnt afford (but were allowed to be given by legislation and more over using "private firms" to further push this agenda)


No doubt Obama inherited a problem by spend happy Bush, but spending more on silliness, passing harmful legislation, and not admitting that congress was liberal during some of that time is just plain selective hindsight.

To put it another way: Expecting Government to solve these problems is like asking Col. Sanders to lead our national effort to stop the slaughter of chickens.