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Originally posted by David9176
reply to post by timetothink
Well i already pointed out one aspect that you have completely ignored...but here:
If you're in the market for a new car or your first house, the compromise stimulus bill offers modest tax breaks for both kinds of purchases. First-time home buyers would receive an $8,000 tax credit, and they wouldn't have to repay the government later as is required for the current $7,500 credit. An earlier Senate proposal would have provided all home buyers with a $15,000 credit.
The bill also would allow new car buyers to deduct the purchase's sales tax from taxable income.
A key element of the stimulus bill would provide most Americans with a tax credit of $400, or $800 for married couples. The tax credit would phase out for single taxpayers with adjusted gross incomes of $75,000 to $90,000 and married couples with AGI of $150,000 to $190,000.
The tax credit would increase the average taxpayer's paycheck by about $8 a week, prompting some to question whether it will do much to stimulate consumer spending. But for a single worker, the credit is the equivalent of a $500 salary increase, after taxes, says Clint Stretch, managing principal for tax policy at Deloitte Tax. "In this economy, if you walked into your boss' office and demanded a $500 raise, you'd probably get laughed at," he says.
This is ultimately the reason why no one seemed to notice...probably because increased insurance premiums equaled it out for most people. Also, as i stated in another post, these tax breaks were not sent out in checks like Bush's 2 rounds of stimulus checks.
Retirees who receive Social Security benefits and individuals on disability would receive a $250 tax credit, says Tom Ochsenschlager, vice president of taxation for the American Institute of Certified Public Accountants. Because these individuals typically don't have withholding, they'll likely receive a check, he says.
•An expanded earned income tax credit and child tax credit for low-income families.
•A higher education tax credit. Parents of college students would be eligible to claim a tax credit of up to $2,500. The credit is more generous than the existing Hope Scholarship Tax Credit, which maxes out at $1,800 and is available only for the first two years of college, says Amy McAnarney, executive director of H&R Block's Tax Institute. The tax credit, which would be available in 2009 and 2010, phases out for single taxpayers with AGI of $80,000 to $90,000 and married taxpayers with AGI of $160,000 to $180,000.
•A stopgap measure designed to prevent the alternative minimum tax from hitting more than 24 million households in 2009. The AMT was designed to prevent extremely wealthy taxpayers from using loopholes and deductions to avoid taxes. But because it was never indexed to inflation, it has expanded to encompass more upper-middle and some middle-class taxpayers. About 4 million owed the AMT last year.edit on 2-4-2012 by David9176 because: (no reason given)
Originally posted by pajoly
Originally posted by FeatherofMaat
Good. That is the way humans should be. The Right wants ppl to die to protect profit.
I dare say this is true in a practical sense when you model out the real effect of their budgets. Universal healthcare?! Why that's tyranny!!! Put it another way and it is just as factual to say that the Right is thrilled that we are the only industrialized nation that treats a 3 year child's terminal illness as a profit center. If they could process and reason, they'd see things for what they are, not what their media masters and talking heads demagog.
Originally posted by rexrugerblack
reply to post by dreamstalker
I must say first of all, I'm not ''African American''. I'm an American that happens to be black. Never been to Africa, so I'm not African anything. My parents, grandparents, great, great-greats and so on, were born here. As a matter of fact, my maternal great-great grandfather was white, and my great grandparents were part Native American, so I'm American. Another thing, black people don't run around calling each other brother...that was the 70's. And any man, that will stand beside me, regardless of color, is my brother, bro.
Originally posted by blueorder
the hilarity, given the extravangant entourage he and his wife have, to come off with a statement like this is just too funny- divvy up ALL of your wealth above the national average, then start waffling with absoloute BS like this
Text Service Employees International Union The former president, Andy Stern, was paid $306,388 in salary and benefits from the union in 2009. In his final year, Stern got a 5 percent pay boost, Read more: nation.foxnews.com... American Federation of State, County & Municipal Employees Gerald McEntee, who was first elected union president in 1981, was paid $479,328 in salary and benefits in 2009. Over the past decade, his salary has increased at almost 4 percent a year. Read more: nation.foxnews.com... Laborers' International Union of North America Terence O’Sullivan, union president since 2000, received $618,000 in salary and benefits in 2009 Read more: nation.foxnews.com... American Federation of Teachers Randi Weingarten, who was elected president in 2008, received $428,284 in salary and benefits. Read more: nation.foxnews.com...
Originally posted by circlemaker
It sounds his heart's in the right place but he's trying to work within the status quo. Not going to happen. Drastic times require drastic measures. Only RP is willing to get to the root of the problem.
Originally posted by circlemaker
reply to post by Jean Paul Zodeaux
I'd say ending the fed and bringing the troops home is pretty drastic as far as the status quo is concerned. Meanwhile Obama is trying to treat the symptom rather than the disease.edit on 4/3/2012 by circlemaker because: (no reason given)
Originally posted by Snoopy1978
Obama's brothers are Monsanto, Goldman Sachs, Insurance Industry, Big Pharma, Big Oil, etc.
Watch what he and the rest of the scum on both (actually one in reality) parties DO. The rhetoric is simply to divide the populace for the plutocrats' benefit.
STOP THE DISINFO/PROPAGANDA!
OBAMA IS NOT A FREAKIN' SOCIALIST!