Now I thought that all of these tax cuts were coming out of the Social Security Trust Fund? So now the Craps want to take even more food from the moths of the starving Floridians and give it to the young heterosexual couples?
Posted on 06/05/2003 10:35:36 PM PDT by TheEaglehasLanded
Editor,
Well, the Democrats have a new definition of the rich, if a couple makes $26,000 or more and gets a child tax credit your evil, filthy rich Americans. Excuse me, but if you do the math both spouses working full time jobs (2000 hours) the entire year and make $6.50 or more an hour they'll make $26,000 as a couple. Under this new definition of wealthy, Democrat demagogory says if you actually pay taxes you don't deserve a tax cut, and if you don't pay taxes you deserve another payment from the government and we will call it a tax cut.
Considering most people in Springfield would not be getting a tax cut if the Democrats had their way, since all but 2 Democrat Senators and 8 House Dems voted against the tax cut where the average family of 4 with 2 kids under 18 in Springfield with each spouse earning $30,000 will be receiving $800 in child credits, $1,122 in tax cut for the 15% rate bracket would end at $56,800 ($28,400 x 2), rather than $47,450. The marriage penalty relief proposal increases the standard deduction from $7,950 to $9,500. $232 in savings if all taxable income ends up in 15% bracket. Let alone any capital gains income from investments they will save over $4,000 in the next 2 years compared to the Democrats plan of $0.
Of course the Democrat members whining the most wanted to kill all the provisions of the Presidents tax cut anyway because it was too big. Now they are whining that the tax cut was not big enough because people who don't pay any Federal Income Taxes and get most if not all of their social security and medicare taxes that is supposed to be used for their retirement they pay back in EITC credits, let alone food stamps, and other government payments. So what will be left to pay their Social Security and Medicare Benefits. Well once they get a raise or a better job that will be created by the tax cut they will jump over the $26,000 Democrat Rich Line and that's when they'll pay it back.
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