cupofjoe1962

Obama Proposing Tax Cut Of $1,000 for Most Families who earn less than $150,000 or singles who make less than $75,000.

How will we get this money?

Will they cut our take home pay or will we have to wait until we file our
taxes?

DarrylS

From what I understand it will be a deduction on your taxes next year...

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"Being the best doesn't mean you always win. It just means you win more than anyone else".. tweet from Kurt Warner to Tom Brady.

BelichickFan

So he's already changes the cutoff of middle class to rich to this $150K/$75K now, I see. He was talking about $250K during the campaign.

BTW, those who don't pay income tax will be getting welfare here not a tax cut.

FreeTedWilliams

IT is a straight out redistribution of wealth, these people ALREADY PAY NO INCOME TAXES, and now in addition to the money they already get from EIC, he is going to give them an additoinal $1,000, so if I were you, I would open up a Big Screen TV business, because that is what they are going to spend there moeny on (updrading the current big screen TV that they already have).

This is the dumbest thing in the whole, if you really want to get the economy going , lessen the tax burden on the people and business that actually create jobs! This will do nothing more than more the country towards Obama's coveted 50% dependent on the government for their very lives.

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PatriotsReign

I actually agree with you here BF. This is total bs. He did say he'd cut taxes on those making less than $250k and that was his definition of the middle class. For the life of me, I do not understand why our gov't is cutting of tax rebates at such low levels.

Keep in mind, it may not have been Obama who did this. It could have been congress.

BelichickFan

Oh, no, you can't get away with that one It was always Bush's fault, even with a (D) majority the last two years . . . and Obama will be signing the bill . . . he may not have written this up but he owns this bill.

PatriotsReign

what-evAH BF.....

BelichickFan

Hey, I put a smile there

If Obama signs it he owns it, end of story.

Real World

That's how it's been with BOOOOOOOSH.

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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."
Leo Tolstoy, 1897

Synovia

I make less than 75K. I will assure you that I do, in fact, pay income tax.