Good strategy

[d-ray657]

I have to give EJ Dionne credit for this, but I think it is a great idea. I hope the Dems do it. Not only do the Bush tax cuts expire at the end of the year, the middle-class tax cuts that were part of the stimulus plan expire at the end of December as well. The Dems should present a bill to extend the stimulus tax cuts immediately, before the election.

The stimulus tax cuts were more progressive than what is proposed in renewing the Bush tax cuts for those making under $250K. The stimulus cuts diminished as the income reached $250K - not just in percentage but in dollar amount - those making close to $250K got less back than those making $50K. Extending this tax cut, or even making it permanent is therefore less expensive than keeping a slice of the Bush tax cuts. Therefore, it is more fiscally sound.

The GOP would have a helluva time defending a vote against this. It continues to provide some tax relief for those who need it most, thus taking some of the burden off of the middle class tax payers. To do it before the election leaves some more time to consider the effect of allowing all of the Bush tax cuts to expire, or renewing some or all of them.

How would the GOP defend voting to increase taxes for the middle class (to use GOP terminology), when this tax plan is much more fiscally sound than the Bush plan? If both this tax cut and the Bush tax cuts expire, however, the middle class would see a double whammy with two tax increases, compared to one for the upper incomes. Extending the stimulus tax cut is a win-win. If it is extended, it benefits those who need it the most. If it fails, the GOP is stuck with blocking tax relief for the middle class, but the Dems don't have to deal with the class warfare argument, because this expiring tax cut affects only the middle class. There is no need to differentiate in proposing the bill - it can be extended as it is in place.

A final benefit is that it reminds voters (or makes them aware for the first time) that the stimulus plan included extensive tax cuts. A look at any tea party activity demonstrates a glaring ignorance of this fact. I hope the Dems were listening (to Dionne, not to me.)

Regards,

D-Ray

[djv8ga]

Lol!!!

[whell]

So, its a good idea to play politics with folk's take home pay? Sounds pretty cynical and mean-spirited to me.

Of course you know that the ARRA "making work pay" is a credit against W-2 wages only, and a mighty $400 for singles or $800 for married folks, and would phase out at $75000/$150000 for single / married filing joint respectively.

The Bush tax cuts were on income earned from wages, dividends or capital gains. So, if the Bush tax cuts are not extended, retirees, for example, will certainly see a tax increase. Those "evil rich" small business owners who pay pass through taxes on their income earned from Sub - S corps will also take an extra hit.

Also, unless you recalculated your withholding and submitted a new W-4 to your employer - most folks didn't - you didn't get the ARRA tax reduction unless you remembered to file for it on your 1040 (I wonder how many folks missed this item on their tax returns, and Uncle Sam just kept the money?). So, with ARRA, the gov't likely kept the money for most of the year, and gave it back on tax returns. With the Bush tax cuts, it was a reduction in withholding rates that folks were able to tax advantage of all year long.

But if E J Dione thought of it, it must be a good idea, right?

[djv8ga]

EJ Dionne ???...Too fucking funny!!!!!!! Yeah, that "who ever he is" will sway the vote...LOL...LOL...LOL...LOL...!!!!! Good God dude, get a life (or a job (?))...LOL!!!!!!!!!

[whell]

Originally Posted by djv8ga

EJ Dionne ???...Too fucking funny!!!!!!! Yeah, that "who ever he is" will sway the vote...LOL...LOL...LOL...LOL...!!!!! Good God dude, get a life...LOL!!!!!!!!!

Wow. A piercing retort brimming with intellect. Impressive.

[djv8ga]

Originally Posted by whell

Wow. A piercing retort brimming with intellect. Impressive.

Yeah...that's how I roll. This thing is pretty much over.
Oh, and Mr. Whell, I own two small business's. I hope you do too, or your post is worthless.

[whell]

Originally Posted by djv8ga

Oh, and Mr. Whell, I own two small business's. I hope you do too, or your post is worthless.

I have no idea why whether I own a small business or not might invalidate the post. Perhaps you might enlighten me?

Do I have to be living on retirement income as well? Or do I have to be only a W-2 wage earner to understand the Making Work Pay tax credit?

[djv8ga]

Originally Posted by whell

I have no idea why whether I own a small business or not might invalidate the post. Perhaps you might enlighten me?

Do I have to be living on retirement income as well? Or do I have to be only a W-2 wage earner to understand the Making Work Pay tax credit?

Well, it's kinda like this. Your post means nothing. You can talk about tax code, but until YOU ARE the employer, it means nothing. Thank you very much for that info.
Why do we need tax credits anyway?

[finnbow]

Originally Posted by djv8ga

Well, it's kinda like this. Your post means nothing. You can talk about tax code, but until YOU ARE the employer, it means nothing. Thank you very much for that info.
Why do we need tax credits anyway?

At the risk of being a tad undiplomatic, you're an ignorant prick.

[djv8ga]

Originally Posted by finnbow

At the risk of being a tad undiplomatic, you're an ignorant prick.

And you're a stupid cunt.