This is insanity.

Social security is already on its last legs. So now we're going to give "rebates" to people who pay no income tax and only minimally into the SS system via FICA?

I don't suppose that trimming SS benefits is in the cards?

Why are we giving "rebates" (a misnomer) to the very people who are most likely to rely on Social Security?

It's out and out Socialism at this point. The have-nots are taking from the (very few) "haves" at a rate which cannot possibly be sustained.

They should give rebates to everyone, and not just the lower 95% of wage earners..kids too - imagine the stuff a ten year old would buy if he had $1000 from Mr Obama

acanuck: imagine the stuff a ten year old would buy if he had $1000 from Mr Obama

H. W. Plainview: acanuck: imagine the stuff a ten year old would buy if he had $1000 from Mr Obama

I might buy that now...

Guess what subby, they've been doing that for years.

subby would be shocked to learn that there are more types of taxes than simply income tax.

So does this mean that in addition to getting my money back I will be getting some of yours too?

cretinbob: Guess what subby, they've been doing that for years.

'Earned Income Credit'?

Didn't Reagan do this?

Republican does something = True American Hero

Democrat does the same thing = Evil Socialist Scum.

I remember griping about something similar to this 8 years ago. Bush appointed Jon Snow to head the treasury. Snow was CEO of CSX, a company that (not only paid) zero taxes, but also received tens of millions of dollars in rebates on the taxes it never paid.

Time to git paid. But don't call this a 'tax rebate' if people who don't pay income taxes get it also. Call it what it is, supplemental wealth re-distribution in lieu of a puppy-bate.

robotics500: H. W. Plainview: acanuck: imagine the stuff a ten year old would buy if he had $1000 from Mr Obama

I might buy that now...

Oriental Trading Company, about $29.99. Enough leftover for gum!

;)

And he just mentioned that the notion that refundability of tax credits for those that don't make a lot of money was a principle that not only he holds, but one that Ronald Reagan held with the Earned Income Tax Credit in the '80s

EIC was the first thing I thought of when I read the headline. I don't feel obliged to support Obama's giveaway, or EIC, just because Reagan supported EIC.

I loathe the EIC. I worked at a tax firm and we had to upsell IRAs to the clients and a natural leading question was what do you intend to do with your refund. Not one person ever once mentioned the children. Out of a hundred, only three said anything of use. One was going to pay for beauty school, one was paying overdue utility bills, and one was going to fix his truck so he could get to work. All the rest were going to blow the money on shopping for clothes, electronics, or vacations. Not one person ever expressed interest in an IRA.

eddyatwork: I loathe the EIC. I worked at a tax firm and we had to upsell IRAs to the clients and a natural leading question was what do you intend to do with your refund. Not one person ever once mentioned the children. Out of a hundred, only three said anything of use. One was going to pay for beauty school, one was paying overdue utility bills, and one was going to fix his truck so he could get to work. All the rest were going to blow the money on shopping for clothes, electronics, or vacations. Not one person ever expressed interest in an IRA.

Not me! I give money to the IRA every year.

/darned Brits.

JacksBlack: It's out and out Socialism at this point. The have-nots are taking from the (very few) "haves" at a rate which cannot possibly be sustained.

Nah. The have-nots are taking from the FUTURE have-nots, which will inevitably make them "have-negatives."

I love how Republicans act as though income tax were the only tax people pay (apart from the estate, excuse me, death, tax). Most especially payroll taxes, those regressive behemoths that constitute a majority of most workers' tax burden are defined into nonexistance. We couldn't possibly give money to poor people like we do to this middle class, because it would reward them for being poor!

I'm not against this. We live in a country of take take take...from the citizens. Living in NJ (where mass transit is virtually nil), i need to clear $1000/month just to stay in a home I own, and be able to drive to my job 15 miles away (property taxes + insurance). That's not including mortgage, food, gas, or utilities.

My point is, all Americans have to pay to even exist...even if you don't consume anything or use any services. I also believe that cost to exist has risen dramatically over the years as companies lobbied politicians to pass mandatory laws ensuring their revenue stream (i'm looking at you insurance companies). Whether it's a toll on a one mile road, or a fee to use a public restroom, we're all being nickel and dimed to death.

where have y'all been. this isn't new. it's been going on for decades. EARNED INCOME CREDIT.

Cinletharwi: cretinbob: Guess what subby, they've been doing that for years.

'Earned Income Credit'?

Goddam Nixon, that farking commie.

I'm hoping for a federal law allowing anyone can sell their home to the government at the appraisal value on your property tax bill.

If I can't get $350k for my home anymore, why am I paying taxes on it like I could?

Isn't this just like the Earned Incom.....

Oh.

NVM

eddyatwork: I loathe the EIC. I worked at a tax firm and we had to upsell IRAs to the clients and a natural leading question was what do you intend to do with your refund. Not one person ever once mentioned the children. Out of a hundred, only three said anything of use. One was going to pay for beauty school, one was paying overdue utility bills, and one was going to fix his truck so he could get to work. All the rest were going to blow the money on shopping for clothes, electronics, or vacations. Not one person ever expressed interest in an IRA.

Most of the educated working people I know don't have IRAs. What's your point?

/has an IRA from when she was consulting
//now has an IRA and a 401k, apparently just to make my accounting annoying.

soze: Cinletharwi: cretinbob: Guess what subby, they've been doing that for years.

'Earned Income Credit'?

Goddam Nixon, that farking commie.

You know, he kind of was. I would hope that as a country we would physically seize a President who proposed price caps and drag him to death. Nixon had some kind of voodoo working.

By the way, if this isn't a real "rebate," is it just a "bate?"

listen, you farknozzles - if you pay part of your income to the government... IT'S INCOME TAX.

i love how the farking subhuman right wing always whines about poor people getting tax relief.

these cocksuckers need to live on less than $20k for a couple of years and see how they farking like it.farkers.

oh, and you know who raised the payroll tax to pay for an income tax cut? SAINT RONALD REAGAN.

/ still waiting for mine

veedeevadeevoodee: / still waiting for mine

eight whole days since the inauguration and you're still waiting? that's it - i'm voting for mccain!

POAC: I remember griping about something similar to this 8 years ago. Bush appointed Jon Snow to head the treasury. Snow was CEO of CSX, a company that (not only paid) zero taxes, but also received tens of millions of dollars in rebates on the taxes it never paid.

Are you sure that they weren't tax credits? Because any company that takes consecutive losses can keep the tax difference as a credit to be redeemed when the company becomes profitable.

Bonkthat_Again: My point is, all Americans have to pay to even exist...even if you don't consume anything or use any services.

Mistake #1 - Living in NJ.
Mistake #2 - Assuming you don't ever consume, or use services.

FlashHarry: oh, and you know who raised the payroll tax to pay for an income tax cut? SAINT RONALD REAGAN.

You have made the very, very stupid mistake of assuming that the right wing understands anything about their government and its operation, let alone the history of their own party.

veedeevadeevoodee: / still waiting for mine

Got mine last week.

/It was delicious.

eddyatwork: All the rest were going to blow the money on shopping for clothes, electronics, or vacations. Not one person ever expressed interest in an IRA.

Isn't this the point of the rebates to stimulate the economy? Don't they want the people to spend and not save it?

...and this is why using the tax code to deliver welfare benefits is insane.

HotLonelyTeenageGirl: FlashHarry: oh, and you know who raised the payroll tax to pay for an income tax cut? SAINT RONALD REAGAN.

You have made the very, very stupid mistake of assuming that the right wing understands anything about their government and its operation, let alone the history of their own party.

true. i now see the error of my ways.

zomg!!11!1 teh poor pay no income tax therefore they shouldn't get teh tax reebaytz!!!11!!

is that better?

Ryan2065: Isn't this the point of the rebates to stimulate the economy? Don't they want the people to spend and not save it?

And investing money in a fund/company doesn't inject money directly into the economy?

Money for nuthin
Chicks for free

MTV?

H. W. Plainview: acanuck: imagine the stuff a ten year old would buy if he had $1000 from Mr Obama

I think those would cost way more than $1000.

But I actually like this idea. Trickle up economics :)

Cinletharwi: 'Earned Income Credit'?

Fine, then stop calling it a "rebate". Because that's not what it is.

I am back to Ron Paul and Huckabee: abolish the IRS and do something different. This is stupid.

JacksBlack:
Why are we giving "rebates" (a misnomer) to the very people who are most likely to rely on Social Security?


We aren't...lower income people have a shorter life expectancy. That means they're less likely to live long enough to get their money back, and if they do they're less likely to get back what they paid in.

Rebates are a waste of time though. It would be better to just have a federal tax holiday (including payroll taxes). Save a lot of time and effort and still put the money back into people's hands.

I personally don't like it but from a business point of view poor people are a hell of alot more likely to spend money they get today...today.

Let us punish success! Trying to be successful at work? Get a raise or promotion? WELL farkING FORGET IT, 'CAUSE UNCLE OBAMA IS GOING TAX THE shiat OUT OF YOUR SMUG, RICH, FAT ASS! SUCKER!

Money should not end up in the hands of people who are too lazy to make a decent living. How will money spent on illegal drugs and prostitution help the economy?

They'll use the money right away. The less you earn the more you should get.

Propain_az: Let us punish success! Trying to be successful at work? Get a raise or promotion? WELL farkING FORGET IT, 'CAUSE UNCLE OBAMA IS GOING TAX THE shiat OUT OF YOUR SMUG, RICH, FAT ASS! SUCKER!

This is so stupid, I can't even come up with the words to rebut it. It is like somebody just hit you in the head with a sledgehammer 15 times, and then you decided to start typing.

Subby is a liar and/or idiot. Here's a realistic summary of the article:
"Obama: We're going to give payroll tax rebates to people who pay payroll taxes".fark-it, let's just abolish the payroll tax! I mean republicans hate taxes right? I'm sure they'd be all for that.

Didn't everyone participate in the last tax rebate? All they had to do is file a form, even if their income was $0.

any money the government doesn't spend is good money

We get it. Reagan introduced the EIC. It doesn't mean we want the EIC to increase (Essentially a bigger rebate). I don't get why so many people in this thread are equating the increase in a rebate to being okay with the initial EIC.

It's quite possible to be okay with a program without wanting it to go above a certain amount. You can agree with the EIC at its current level and not agree with a doubling of the EIC. So can we stop pointing out "the EIC is already there!!!!1!".