OT: US Recession & Tax Rebates

[Guest]

As some of you may already know by keeping up with the news, Bush is now in the works of doing yet another Tax Rebate. Last night, they were saying it would be $800 per person, but now it seems $500 is the more solid figure. Either way, if you did recieve that money, would you plurge it on goods, save it, or pay bills with it?

I know I would most likely pay bills with it.

Once again, Bush seems to have screwed things over. This would be the second time he has issued a tax rebate to prevent the economy from entering a recession. This time, it seems worse than before. If they don't do something soon, theres gonna be alot of people out of work and a serious situation on their hands.

 

[imported_mo'gluk]

yeah its the most moronic thing I have heard of.. and he is only doing the same thing democrats would have...we always have this discussion when an election year is here....

 

[Guest]

I usually get back about 6K per year anyway.

but , that doesn't change the fact that Bush is a moron

 

[Greer]

It is insane. If they can give us a tax rebate, to me it just means that we are over taxed to begin with.

 

[imported_mo'gluk]

mechanic must be a student with kids.....

 

[Scuzzlebutt]

You get 6k back per year as a college student?

 

[imported_mo'gluk]

I didnt start college till I was married and when I had a child my returns went from the hundreds to the thousands... its part of the EIC and the normally low income of students. my last year of college + post college work made barely elgible and I got 5400$ back so dependingon what other deductions are out there its possible as a student to get a lot back.

Of course there are also sneakier and non-legit methods to get a larger return but I don't know those I have just heard about them..

 

[Scuzzlebutt]

Why would you overpay your taxes that much? And if it is all in deductions and credits, why even pay taxes at all. Might as well put that extra money in an expandable CD or something and make an extra $200-300 over the year.

 

[Guest]

I think we have had tax rebates before.

I can recall back in Wisconsin long ago we spent that one official US. govt. tax rebate on getting a new furnace, for our home, that we had up there.

Even so, a tax rebate is like merely trying to put a bandage used upon a gushing gun shot wound to the stomach; of the economy.


We don't get much back anymore ever at our age, with 3 kids grown and gone subtract 3 legal deductions. . huge wage cuts from a billionare CEO's, to all their employees, wages they won't get back, etc.

Fortunately our home and vehicles are paid for, we owe no one mortgage $ nor vehicle notes any longer, sooo most all of our spending is utilities, groceries, semi annual checkups with insurance still get some bills on seeing a doctor 2x a year, and gas for his truck to ..go to work, on his wage cuts.

IF we get some tax rebate now, chances are we would save it for this summer's air conditioning bills, and blow a bit of it, on going out to dinner once.

But ya know that saying.... "the check is in the mail" .............RIGHT !!!

 

[imported_mo'gluk]

no its not a matter of over paying taxes its the EIC, which is the gov't way to help low income family's not feel like they are poor..... I don't think its a great idea but it did help us make purchases on a new minvan and also kept me takingout a few less loans...

 

[Guest]

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mechanic must be a student with kids.....

[/ QUOTE ]


ding ding ding

 

[Scuzzlebutt]

Wow, in that case, Im so glad I could help support your children for you man.

 

[imported_mo'gluk]

hey thats uncalled for... you don't like the system call your congressman don't complain about the people that use systems crappy politicians put in place before realizing what it would cost the american public.

I know that I used the EIC for the years I was in school and the 1/2 year after I graduated and now I am no longer elgible for these "great" tax programs but I in no way am bitter about others using it. especially when the predominence of the lower classes pay a higher percentage of the tax load.

 

[Guest]

that is not what EIC is, that is Welfare you are talking about. It's Earned Income Refund, basically it allows you to get a tax refund instead of being taxed more out of your income.


earned in·come tax cred·it (plural earned in·come tax cred·its) or earned in·come cred·it noun
Definition:
tax reduction for low-income workers: a credit for certain low-income workers that is administered in the form of a reduction in federal income tax

I'm not saying some ppl dont need Welfare but a lot dont, I work in a Dr's office and nothing pisses me off more than someone who comes in and is on Medicaid and they have a $2.00 co pay and they cant make it but they reak of cigarrettes. But most of us if we even have health ins have anything from a %20 co pay to $20-$50 per visit, not counting our deductible, and these ppl dont have to pay for their ins at all and cant make the 2 bucks each visit but they can buy 2 packs a day. Anyways I'm ranting EIC is not paid for by your taxes, its a credit to reduce your federal tax.

 

[Scuzzlebutt]

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hey thats uncalled for... you don't like the system call your congressman don't complain about the people that use systems crappy politicians put in place before realizing what it would cost the american public.

[/ QUOTE ]

As if you could actually call your congressman and change something like this. The fact is, if voting actually made a difference, it would be illegal. You can change the people in office but the system is going to stay the same. And trust me, im well aware of who's paycheck suffers the most when it comes to the burden of tax liability. Im a single male in the 28% tax bracket and i'll likely get little to no refund this year. Most of that is due to careful planning so I dont overpay the government and allow them to hold my money ransom until February.

 

[Scuzzlebutt]

Its not just a break on your taxes though. Its a subsidy for income. If you only earn say $15,000/yr or less and you have two children you get an earned income credit of nearly $5000. With standard deductions, people in these situations receive thousands of dollars more in a refund than they payed into the income tax system. And where do you think the moeny comes from for this program? Other peoples taxes, ie. why I say I am glad that I could help support his children.

 

[Guest]

<blockquote><hr>

<blockquote><hr>

hey thats uncalled for... you don't like the system call your congressman don't complain about the people that use systems crappy politicians put in place before realizing what it would cost the american public.

[/ QUOTE ]

As if you could actually call your congressman and change something like this. The fact is, if voting actually made a difference, it would be illegal. You can change the people in office but the system is going to stay the same. And trust me, im well aware of who's paycheck suffers the most when it comes to the burden of tax liability. Im a single male in the 28% tax bracket and i'll likely get little to no refund this year. Most of that is due to careful planning so I dont overpay the government and allow them to hold my money ransom until February.

[/ QUOTE ]

you are undoubtedly the biggest troll I have ever seen on these forums, and I have seen a lot, don't bother replying you are already on my ignore list, the only person on my ignore list I might add.

 

[Guest]

If you don't like the system go move to a remote island, so when don't have pay for someone's education will become a doctor or nurse that will save your sorry butt when your poop hits the fan, and the world will be happiness in the land as you didn't have to pay the help them get to where they and they didn't have help a miser like you

 

[Scuzzlebutt]

<blockquote><hr>

If you don't like the system go move to a remote island, so when don't have pay for someone's education will become a doctor or nurse that will save your sorry butt when your poop hits the fan, and the world will be happiness in the land as you didn't have to pay the help them get to where they and they didn't have help a miser like you

[/ QUOTE ]

Holy [censored], I cant even begin to count the grammatical errors or piece together the impossible sentence structure you have going here. I hope to god I didnt help pay for your education, if so I demand a refund.

 

[Scuzzlebutt]

<blockquote><hr>

you are undoubtedly the biggest troll I have ever seen on these forums, and I have seen a lot, don't bother replying you are already on my ignore list, the only person on my ignore list I might add.

[/ QUOTE ]

He made me cry real tears...

 

[Guest]

It is not a rebate since it is my money that the government took from my payroll. It is a return of funds with no interest. I would spend it as I do all of my money that is not taken by the government.

Our (Nevada) caucus is tomorrow and I must note that the Democratic front-runner (Obama) has been running ads all week about his $1000 tax "rebate" if elected. So, the electorate seems to favor some tax relief.

 

[Guest]

All the more reason for you to move to a remote island, so you want have deal with people like me and the happier the whole world will be.

 

[imported_mo'gluk]

*grumbles about OT topics always getting to over the top*

 

[Guest]

I'm gonna put mine towards a new computer !!! Maybe then I can PVP , cause the dinosaur I use now doesn't let do jack.... LMAO

 

[Scuzzlebutt]

See, I would move to a remote island, but then the six years I spent serving my country would seem like such a waste. I figured I might stick around and enjoy some of the freedoms which I helped to defend. That cool with you?

 

[Guest]

That pales to 18+ years that my husband has put in to date serving in the military, so people like me have to continue to deal with folks such as you and if you are going to stay here then work to change the system or stop pancakes about it like a teenager dealing with PMS.

 

[Scuzzlebutt]

Speaking of PMS... can someone get this biatch some midol?

Im so glad your husband served our country for as long as he has. I have nothing but respect for him. Oh, BTW, thanks for letting me know my years of service pales in comparison to anything. Nice to know we are appreciated.

 

[Sir Ha-ward]

 

[Guest]

While a cash giveaway would be nice, how's it going to be paid for? More deficit spending isn't the way to go. The republicans have sealed their reputation in stone as being the kings of deficit spending. First Reagan, now this. I'm moving most of my money out of the country.

If they want to re-energize the economy for the long run, they have to solve these issues:
1. control the mortgage and banking industry. regulation is not a dirty word.
2. revise the tax system so that manufacturing makes sense here again. add a vat tax, cut taxes elsewhere (preferably low income-income taxes). The lack of a vat tax, combined with our ideology of "free-trade" which prohibits putting tarriffs means that our exports are more expensive than their imports.
3. find a way to get the cost of health insurance off the backs of employers. Our employers are at a disadvantage to those in the rest of the developed world because they have to pay this cost, whereas in europe, the government pays for health insurance - an effective subsidy to the employers.
4. revise the way the education system is paid for. funding education on property taxes means that theres huge disparities in funding and quality of education.
5. eliminate "no-child-left-behind"; it drains resources by forcing teachers to spend all their time and effort on the stupidest kids - thus ignoring the mid level and high level kids that can actually amount to something eventually.

 

[Guest]

You haven't had a good looking the mirror lately have you?

Pot, I'm kettle, wish I could say, nice to meet you, but if I did, I would be lying and I'm not very good at that.

 

[Scuzzlebutt]

<blockquote><hr>

*grumbles about OT topics always getting to over the top*

[/ QUOTE ]

Politics, religion, and her.
Three things people just can't talk about.