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How Will This Affect My Tax Refund Next Year?
Question: "Have I understood this wrong? Is the tax rebate in all actuality an advance on our refunds next year? Does it mean that if we spend this money now that we won't get the money back next year?" Colleen in Liberty, Miss.
McPherson: Colleen, it is unclear to me exactly what the impact will be on our 2008 tax returns, but clearly there will be some effect. I can tell the proposal as outlined so far calls for the rebates to result from a cut in 2008 taxes even though the rebates will be based on 2007 tax figures.
an A.P. reporter caught a particularly illuminating comment by Clinton about the 2001 tax cuts. "We're saying that for America to get back on track, we're probably going to cut that short not give it to you," she said. "We're going to take things away from you on behalf of the common good."
He supports state plans to give driver’s licenses to illegal immigrants, a position shared by roughly 20 percent of his fellow citizens. He’s committed to raising billions from wealthier Americans’ Social Security tax — a stance Clinton, perhaps previewing Republican attacks, described as a “trillion-dollar tax hike.” And in Iowa recently, he came out for a plan that would ultimately grant 19,500 convicted drug dealers early release, and has been criticized by Second Amendment groups.