How can Obama give a tax break to people who don’t pay taxes?
January 29, 2009 by Tax Blog
Filed under Questions & Answers
dmbfans101 asked:
Obama’s tax break for 95% of people includes 40+% of people that do not pay taxes. Plus he is not planning to extend the Bush tax cuts, therefor increasing taxes on 49% or tax payers.
Obama’s tax break for 95% of people includes 40+% of people that do not pay taxes. Plus he is not planning to extend the Bush tax cuts, therefor increasing taxes on 49% or tax payers.
troopshomebyxmas on Sun, 1st Feb 2009 3:35 pm
He doesn’t – he gives them earned income credits which they then get as cash as a refund. Its just a welfare program to those people.
Mike on Mon, 2nd Feb 2009 4:35 am
You will be able to claim a tax credit on the standard 1040 form. You file your taxes, thus you get the credit. Simple.
mo on Tue, 3rd Feb 2009 4:40 pm
You are trying to argue semantics. 95% of taxpayers will get a break. You can’t give a tax break to someone who doesn’t pay any taxes to begin with.
eric s on Thu, 5th Feb 2009 8:21 am
he has to call it a tax break because calling it what it really is… Marxism, socialism and/or communism might scare too many people (though not those on the left).
it’s his way of redistributing wealth.
you work hard, save some money and try to get ahead? forget about it. obama is going to take what you earned through all of your hard work and give it to someone else. might as well just go on the dole now.
in Obama-land hard work is penalized not rewarded.