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Old 10-22-2008, 11:55 AM
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Quote:
Originally Posted by Bucklion View Post
Based on what I've read, actually that's not really true, unless what I have read of Obama's tax plan is wrong. If people are going to get government rebate checks despite not having paid taxes, then it is ABSOLUTELY about spreading wealth, or income redistribution, or whatever your favorite phrase is. If only people who actually PAY taxes get money back, then I agree, it is not.
helpful info:

The American Spectator: Getting To 95 Percent

Quote:
The other issue that is important to clarify is that when the McCain campaign asserts that ?32%? (or 40%) of all workers pay no income taxes, this is misleading. Obama?s Making Work Pay Tax Cut directly offsets the first $500 of payroll tax that a worker pays each year. It is therefore ONLY available to workers who pay payroll taxes, and no worker receives a tax cut that exceeds their payroll tax payments. Since its inception in 2007, this was the design of the Making Work Pay Tax Cut: ?This refundable income tax credit will provide direct relief to American families who face the regressive payroll tax system. It will offset the payroll tax on the first $8,100 of their earnings while still preserving the important principle of a dedicated revenue source for Social Security. [Factsheet, 9/17/07]. Accordingly, the allegation that the Making Work Pay Tax Cut goes to workers who do not pay income taxes is entirely misleading ? the 95% of workers that Obama claims will benefit are all workers who pay payroll taxes, and none will receive a tax cut from the MWP cut that is greater than their payroll tax liabilities.
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