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What's your taxcut?

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created by toledolen on Oct 28, 2008 at 08:27:00 pm     Comments: 10

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At $40k/yr Joe the Plumber would get a Obama tax savings of $1340. McCain tax savings would get him $472.

posted by charlatan on Oct 28, 2008 at 09:35:40 pm     #  

Only one little problem - someone making $20,000, married with 2 kids DOESN'T PAY ANY INCOME TAXES! Someone with 2 kids and a spouse making $20K, would pay $1530 in social security taxes, but would get $3,670 back in the earned income tax credit, for a net refund of $2,140. And according to that little video, he would get another $1,000! How is that a tax cut?

posted by MsArcher on Oct 28, 2008 at 09:39:42 pm     #  

It's not, it's welfare.

posted by JackRB on Oct 28, 2008 at 09:50:37 pm     #  

They pay sales tax and either directly or indirectly property tax. Then there's gas tax, phone tax, sin taxes, tariffs, tolls, government mandated usury rates.... Inflation hits them the hardest.

The total picture ain't so nice. MSN has an article that says most people's complete taxation is around 40%. A virtual flat tax after all is said and done.

posted by charlatan on Oct 28, 2008 at 10:13:58 pm     #  

And lets not even talk about what a petty a-hole someone is worrying about the tax base of a couple with two kids making 20k.

posted by Ryan on Oct 28, 2008 at 10:25:33 pm     #  

Why should any person get a larger income tax refund than what they paid in?

Its one thing for a person to end up having no income tax liability - I don't necessarily have a problem with that. But I disagree with someone getting back significantly more than they paid in.

posted by mom2 on Oct 28, 2008 at 10:37:16 pm     #  

I'm all for untaxing the poor, but lets do it with something like the FairTax. These tax credits for taxes people don't owe are just another method to buy votes.

posted by JackRB on Oct 28, 2008 at 10:39:14 pm     #  

Everyone pays taxes. And what Ryan said, asshole.

posted by toledolen on Oct 29, 2008 at 11:57:18 am     #  

I wonder if Barack has volunteered to refund the tax dollars he saved under the Bush Tax Cut? If he is all for letting the tax break expire for those earning over 250K a year the Obama and Biden should not have a problem making a public statement that they have refunded the Government their share and earmark it for the middle-class.

posted by KraZyKat on Oct 29, 2008 at 07:35:04 pm     #  

Good thing you're logical.

posted by Ryan on Oct 29, 2008 at 08:42:07 pm     #