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Results tagged “tax cuts” from Nealz Nuze

INCOME TAX CUTS TO BOOST JOBS ...

By
Neal Boortz
@ September 21, 2009 8:10 AM
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... but unfortunately not in the United States. Sweden announced over the weekend that it is going to cut income taxes in order to stimulate the job market. The government says, "The coalition government has agreed on reforms for jobs and entrepreneurialism that will increase employment in the long-term. It has to be more profitable to work and more companies should be able to hire employees."

Seems like such a simple concept. I wish someone in the Democrat Party would take notice.

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THE TRUTH ABOUT OBAMA'S TAX 'CREDITS'

By
Neal Boortz
@ May 1, 2009 8:12 AM
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Are you enjoying your whopping $10 a week from Obama's "Making Work Pay" tax credit? Well enjoy it while you can, because the government is more than likely going to re-seize it in the long run. This is because new IRS withholding tables could cause millions of taxpayers to receive more money than they are "entitled" to under the credit. For some, this will mean a smaller-than-expected tax refund. For others who calculate their withholding differently, you could end up owing the government, come next April.

Here are some prime examples of what some people may be facing.

-- A single worker with two jobs making $20,000 a year at each job will get a $400 boost in take-home pay at each of them, for a total of $800. That worker, however, is eligible for a maximum credit of $400, so the remaining $400 will have to be paid back at tax time--either through a smaller refund or a payment to the IRS.

-- A married couple with a combined income of $50,000 is eligible for an $800 credit. However, if both spouses work and make more than $13,000, the new withholding tables give them each a $600 boost--for a total of $1,200.

-- A single college student with a part-time job making $10,000 would get a $400 boost in pay. However, if that student is claimed as a dependent on a parent's tax return, she doesn't qualify for the credit and would have to repay it when she files next year.

And when it comes to Social Security and veterans, there are a whole heap of issues there too. But don't you worry. Tax cheat Timothy Geithner says that he is "exploring ways to mitigate that effect."

That should make you feel much, much better.


EXTENDING TAX RATES, BUT ...

By
Neal Boortz
@ March 27, 2009 8:31 AM
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... only if you are "middle class." Not a real shocker here, but basically the Democrats are planning on extending and/or lowering tax rates for middle class Americans. Meanwhile, they will "allow the Bush tax cuts to expire" .. which is just government-speak for "increase taxes."

Senator Max Baucus says that middle class taxpayers will permanently benefit from a 15% tax rate on capital gains taxes. However, higher income tax brackets would pay a capital gains tax of 20% by 2010.

You do realize, of course, that middle class taxpayers aren't generally investors. This means nothing to most of them. The investments come from people with money to invest (duhhhhhhh), and for them ... the capital gains tax rate goes up.

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THE MIDDLE-CLASS

By
Neal Boortz
@ March 26, 2009 8:25 AM
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Congressional Democrats are currently battling it out over a budget. But there seems to be one big piece of the Obama agenda that is missing from their plans: Obama's beloved middle-class tax cut. If you'll remember, much of these tax cuts aren't even tax cuts at all, more like welfare for people who don't pay taxes. But the idea was quite effective at getting Obama elected.

OMD Director Peter Orszag says, "while 98% of the budget mark-ups in the House and Senate are on par with the administration's budget blueprint, some campaign trail promises, like middle class tax cuts, may get left on the cutting room floor."

Now don't get all grouchy just yet. His middle class tax cut does appear in his economic stimulus package. Otherwise known as the government growth bill. So once the people get used to the idea of this "tax cut" there is no way that the Democrats are going to take that away.

By the way ... really do need to remind you. These people don't pay income taxes. What Obama is calling a "tax cut" is really government checks TO the taxpayer instead of checks FROM the taxpayer. Nice way to build government dependency.


MORE AMERICANS WANT TAX CUTS

By
Neal Boortz
@ February 5, 2009 8:09 AM
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Not that the average American has a clue .. but Congress, are you listening? According to the latest Rasmussen polls, only 37% of Americans now support the economic stimulus bill.

That means that 43% are opposed and the rest can't tell their head from a hole in the ground.

But consider this ... a stimulus plan that includes only tax cuts is now more popular that then economic stimulus plan being offered by Democrats in Congress. Compared to the 37% who support this Democrat spending bill, 45% of Americans favor a tax-cut only plan. Why is this? Because Americans know that they would spend the money better than any politician in Washington. But, of course, this is something that is never going to happen. And the reason is simple: power. These Democrats in Washington are not really interested in stimulation the economy. They are interested in making sure that they get to spend the money to fund their pork barrel projects and future campaign commercials. Money in the hands of the American who earned it simply does not translate into power for politicians in Washington. It's just that simple. Maybe I need to say that again ... louder this time:

Tax cuts ... letting people keep the money they earn and spend it how they like ... does not translate into more power for politicians in Washington. They grow their power by spending your money .. not the other way around.

Again .. it's so simple. Maybe the American people are figuring this out.


REDEFINING A TAX CUT

By
Neal Boortz
@ January 6, 2009 8:27 AM
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Barack Obama wants a stimulus plan and he wants it quick. Part of his stimulus plan, as we are now learning, may include $300 billion worth of tax cuts. And the next question is .. tax cut for who? During the campaign Obama promised a tax cut to 95% of working families. This brought up the question of how you deliver tax cuts to people who don't pay income taxes .. and that includes about half of the 95% of Americans Obama was schmoozing. Now Obamabots are trying to get around this little factual inconvenience by reminding you that these people pay Social Security taxes and Medicare taxes. But wait a minute! I thought that money that goes to Social Security wasn't a tax, it's a contribution! What does it say on your paycheck? FICA? That's "Federal Insurance Contribution Act." This is really an insurance premium, not a tax, so what's really happening here is that Obama wants to give those more likely to vote for him a free ride for their Social Security. That turns Social Security into a pure welfare program. Ditto for Medicare.

So .. .when Obama says "tax cut," he really means "welfare check." A government handout. Your money seized from you and given to someone who didn't earn it ... or your children and grandchildren hit with a debt they'll have to repay later.

This is the new definition of a tax cut. And we have Barack Obama to thank for it, not to mention a compliant media ... a media that refuses to expose this government-speak.

Now with this stimulus package, we don't have many specifics yet. We know that it will include a tax credit/welfare check of $500 per individual or $1,000 per family (whether or not you actually pay taxes), which would "eliminate taxes for about 10 million low-income workers and offer relief to those who pay no taxes at all," this according to The Politico. Do you see how they slip that in there .. "offering relief." That is just a fancy way of saying "redistributing the wealth." The package will also include tax breaks for businesses, a one-year tax credit for new hires and a write-off for new investments.

The GOP has responded "warily" to Obama's plan. GOP leadership is starting to say the things that John McCain should have said during the campaign - being skeptical of Obama's new definition of "tax cut." Finally. But too late. Now the GOP doesn't have the power to do squat. Somehow we need to get back to some clear definitions of tax cuts vs. government handout checks.

Simply put, you can't give tax cuts to people who don't pay income taxes. Government checks to people who don't pay income taxes are simply welfare checks.

Before we move on, I thought you might enjoy this. Read this article from The Politico. It explains how the GOP isn't dancing up and down the aisles about Obama's phony tax cuts. After you've read the article come back to read the very first reader's comment. This is your typical Obama voter. Read this comment and experience the wealth envy, the playing of the race card, corporate hatred .. pretty much what you would expect. This person goes by the initials PJN:

The GOP doesn't want a tax cut???????!!!!! WHY? Because it's not for rich, white folk! Because it's reversing the transfer of wealth (AND POWER) that's been the GOP sham for the past forty years- concentrate wealth and power in an increasingly smaller cicle at the top. How do we pay for Obama's tax relief? Tax the living S--- out of the 10% of this country that has 90% of the wealth. Fuld, Madoff, and the rest of the Wall Street criminals at AIG; Bear Stears; Goldman Sachs; Freddie 'n' Fannie; Citi, and on and on...should have every penny they own stripped from them - domestic and overseas- they should be cast out on the street, homeless, to be spat upon and driven to suicide. Hey, every recovery, you gotta break a few eggs, right?

The age of Obama. Gotta love it.



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