Obama's tax cut: most Americans don't know it's there

[PeshakJang]

...
New Jersey governors from both parties sent property tax rebates in the mail for years, conveniently timed to arrive a few weeks before elections.

I really have to hand it to Obama. He cares more for governing than for bs politics.

You must have forgotten the checks he is mailing to people on social security... conveniently timed to arrive a few weeks before elections.

captain Reagan actually did that. He raised taxes several times and nobody seems to remember that. He was onto something there.

Of course, that was only after he lowered taxes by such a significant percentage, and the increases were basically tweaks to end loopholes and "smooth" the tax base.

 

[Jeffg010]

http://www.accountingweb.com/topic/tax/bush-tax-cut-dithering-might-lead-shrinking-paychecks

Lets talk about the real problem here congress needs to vote on this soon or we going to get hit hard in taxes. Any way you look at it bush saved more me taxes then Obama ever did. Will they forget to vote on this and let it run out just like the death tax? Only time will tell.
"If all the tax cuts expire, which they will if Congress does not vote otherwise, tax rates will return to June 2001 levels. They are:

* 10 percent will increase to 15 percent
* 15 percent will increase to 28 percent
* 25 percent will increase to 31 percent
* 28 percent will increase to 36 percent
* 35 percent will increase to 39.6 percent"

 

[dammitgibs]

It's not a freakin tax cut you morons, it's a tax credit. Your tax rates are the same this year as the year prior and the next year. If you say Obama lowered taxes this year then next year when I don't get a tax credit can I say Obama RAISED taxes? Of course not that would be stupid, so quit telling me he cut taxes.

 

[CycloWizard]

It's not a freakin tax cut you morons, it's a tax credit. Your tax rates are the same this year as the year prior and the next year. If you say Obama lowered taxes this year then next year when I don't get a tax credit can I say Obama RAISED taxes? Of course not that would be stupid, so quit telling me he cut taxes.

Uh, elections are on Tuesday. Until then, tell me what I want to hear!!!111one!!!ONE! P&N is always funny this time of an election year, as the foaming at the mouth comes to a head. Real discussion will resume in a month or so.

 

[Throckmorton]

It's not a freakin tax cut you morons, it's a tax credit. Your tax rates are the same this year as the year prior and the next year. If you say Obama lowered taxes this year then next year when I don't get a tax credit can I say Obama RAISED taxes? Of course not that would be stupid, so quit telling me he cut taxes.

Are you arguing that it's not a tax cut because it's temporary or because it's a credit while the official rate stays the same? Both are just technicalities. What about the Bush tax cuts that lasted for only 10 years?

 

[dammitgibs]

Are you arguing that it's not a tax cut because it's temporary or because it's a credit while the official rate stays the same? Both are just technicalities. What about the Bush tax cuts that lasted for only 10 years?

I'm saying it's not a tax cut because tax rates were not cut.

 

[sportage]

This was covered on MSNBC by Maddow. And you need to start tuning in btw...

Obama tax relief was in the ... wait for it... THE STIMULUS PACKAGE.
Remember? The STIMULUS PACKAGE?

And as for tax cuts, Obama's cut is reflected weekly in lower pay check withholdings.
Rather than one lump sum, as was the Bush cut. Obama's tax cut shows up every paycheck. And you are more likely to spend those xtra dollars thus helping the overall economy.

Now.. as to the Bush $200 tax cut, the one you got in the mail but only AFTER
you got a letter from Bush saying "Im sending you a check". That letter
cost tax payers $$$ to advertise and give credit to Bush for tossing you $200.
Remember all that?

So.. probably the reason you never noticed the Obama cut, funded by the stimulus, was that Obama did not send you a letter beforehand advertising his tax relief.
Tooting his own horn and blowing smoke up your Azz, as was the Bush process.
You probably just thought those xtra dollars in your pay was some accounting fluke?

Bush sent you $200, only after first sending everyone a nice letter saying
"hey... Im sending you $200.. lucky you".

Republicans... what ya going to do with them.
You can't live with them and they won't let you live without them...

 

[dammitgibs]

This was covered on MSNBC by Maddow. And you need to start tuning in btw...

Obama tax relief was in the ... wait for it... THE STIMULUS PACKAGE.
Remember? The STIMULUS PACKAGE?

And as for tax cuts, Obama's cut is reflected weekly in lower pay check withholdings.
Rather than one lump sum, as was the Bush cut. Obama's tax cut shows up every paycheck. And you are more likely to spend those xtra dollars thus helping the overall economy.

Now.. as to the Bush $200 tax cut, the one you got in the mail but only AFTER
you got a letter from Bush saying "Im sending you a check". That letter
cost tax payers $$$ to advertise and give credit to Bush for tossing you $200.
Remember all that?

So.. probably the reason you never noticed the Obama cut, funded by the stimulus, was that Obama did not send you a letter beforehand advertising his tax relief.
Tooting his own horn and blowing smoke up your Azz, as was the Bush process.
You probably just thought those xtra dollars in your pay was some accounting fluke?

Bush sent you $200, only after first sending everyone a nice letter saying
"hey... Im sending you $200.. lucky you".

Republicans... what ya going to do with them.
You can't live with them and they won't let you live without them...

Gosh golly thanks for the info, I'll start tuning into Maddow every night!

 

[Nemesis 1]

You must have forgotten the checks he is mailing to people on social security... conveniently timed to arrive a few weeks before elections.



Of course, that was only after he lowered taxes by such a significant percentage, and the increases were basically tweaks to end loopholes and "smooth" the tax base.

Really when is election . No SS check here. I will not burn this 1 if there is one . I will give it to salvation Army.

 

[Engineer]

I'm saying it's not a tax cut because tax rates were not cut.

Effective rate, i.e. "tax burden", was cut. Similar to the ole "US corporations have the highest tax rate in the world" when in reality, their tax burden (effective rate) is the 2nd lowest in the world. Semantics...it's all in the wording. :sneaky:

 

[dammitgibs]

Effective rate, i.e. "tax burden", was cut. Similar to the ole "US corporations have the highest tax rate in the world" when in reality, their tax burden (effective rate) is the 2nd lowest in the world. Semantics...it's all in the wording. :sneaky:

Ok fine then next year when my "tax burden" is higher I'm going to run around like a hannity and yell "Obama raised my taxes!!!" and I will be correct using the same logic that people said he lowered their taxes.

 

[Engineer]

Ok fine then next year when my "tax burden" is higher I'm going to run around like a hannity and yell "Obama raised my taxes!!!" and I will be correct using the same logic that people said he lowered their taxes.

That's your prerogative. My effective rate was lowered with the tax credit. Call it however you want though....no skin off my back. If the credit is not there next year, then yes, your taxes were raised (effective rate - assuming that you received the credit during the past two years).

Oh, can I have your tax credit since you didn't receive a cut? I'll put it to good use! :biggrin: