Posted on 01/29/2009 6:35:19 AM PST by Mind Freed
A payroll tax credit and breaks for business are among the tax cuts Congress will pass as part of the big economic stimulus package coming soon.
(Excerpt) Read more at finance.yahoo.com ...
You can rest assured it’s a faint.
Yeah, you are right. You might get a 10-13 hike in your paycheck which will never be noticed due to rising prices.
Anyone who thinks they are getting a big check in the mail is stupid, unfortunately when the dem sheeple hear stimulus, they think that big old check is on the way.
Pathetic. As usual, government crumbs are offered, while super-rich fascists will be signing ginormous contracts with the almighty Fed run by an Eclair.
That’s feint, as in an action to deceive.
Faint is what you would do if you did get a big check from the government.
....Bob
the thing is, even people who do not make enough to pay income taxes will get a check! that's called welfare, my FRiends!
It’s WORSE than welfare! It’s redistribution of wealth. Taking from those who actually pay taxes, and giving to those who don’t pay taxes, even knocked up crack whores who live in government housing, and have their meals paid for by the government, and who receive the EIC.
I believe tho, it will include people on social security, agreed some are wealthy, and most are not... and both have worked and paid taxes all their working days, and I do not begrudge that group getting a rebate
You only get it in small increments in your paycheck. Should mean about 11 or 12 dollars extra per week, or if you’re married maybe 20 dollars extra per week combined. Go stimulate the economy on that, LOL.
Evidently you can opt to take it as a tax credit next year if it’s not deducted weekly/biweekly (or however you receive your paycheck), don’t know exactly how that’ll work
I did that intentionally.....I fainted last night after supper watching how widely the Dems smiled with their first thrust of sodomizing the working person, children, grandchildren, the already conceived unborn. Then they left to go over the the WH to have some alcohol spiked koolaid with The 0.
...and continue to pay taxes on any pension, annuity etc as well as on SS retirement benefits if their other income is "too much" as determined by the IRS.
I would certainly faint if it weren’t a feint. (Sorry. I couldn’t resist)
I know you’ve had your eye on that extra pack of breath mints but I wouldn’t spend the extra refund money just yet.
What will it cost businesses to jigger it’s payroll and withholding for 200,000,000 people?
Remember that any cut in the “payroll tax” (Social Security tax) brings closer the day of reckoning, the complete collapse of that system when our children realize the only way to redeem those lock-box bonds is to raise taxes to pay for them. Then we’ll see the other side of Pelosi’s statement about reducing “useless” lives to cut expenses (she didn’t use that word but you know damned well what she meant.)
"Enhancing the first-time home buyers’ credit, which was enacted last year. Under current law, the credit, which is capped at $7,500 and applies to purchases of primary homes after April 8, 2008, and before July 1, 2009, must be repaid over 15 years, starting two years after the credit is claimed. In the House and Senate proposals, folks who buy homes in 2009 don’t have to pay back the credit as long as they don’t sell the house within three years."
Sound like an area ripe for a little creative accounting? Hey, if Tim Geithner can get away with it...
Of course, now that we've established the principle that the Federal government will lend you money interest-free to buy something, we can apply it to other things. Look for a tax credit that substantially covers the cost of buying a 'green' car with a Detroit nameplate as part of the coming UAW bailout package.
Got that right.
They’re businesses so in the minds of congress critters they don’t really care how it impacts them.
I thought I had read that a version this was passed in 2008 and that deal expected the tax credit to be paid back over the life of the mortgage. The current pelosi dump absolves people that took advantage of this in 2008 and extends the tax credit going forward with no repayment for anyone. Subject to the three year rule of selling the house.
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