Help me to understand how 40% who don’t pay income taxes should get a rebate check?

[Bob]

Obama talks about 95% of the population will get a tax cut, well that sounds great, but if 40% get a tax break who did not pay income taxes, wouldn’t that be more like a welfare check? If the Dems get more folks dependent on the government, I guess that increases their base. So the rich don’t pay their full share? What do the rich pay in America compared to other countries around the world? (from non-blog sources please LA.) If corporate taxes are second highest in the industrialized world, are they not paying their full-share?

Oh, isn’t it great that another non-helpful stimulus package is coming, thanks to Dems and Repubs. That money if printed will weaken the dollar. I’m glad the dollar has been holding its own lately, but at this rate we headed to 1923 Germany.

[ak1971]

Originally Posted by Bob

Obama talks about 95% of the population will get a tax cut, well that sounds great, but if 40% get a tax break who did not pay income taxes, wouldn’t that be more like a welfare check? If the Dems get more folks dependent on the government, I guess that increases their base. So the rich don’t pay their full share? What do the rich pay in America compared to other countries around the world? (from non-blog sources please LA.) If corporate taxes are second highest in the industrialized world, are they not paying their full-share?

Oh, isn’t it great that another non-helpful stimulus package is coming, thanks to Dems and Repubs. That money if printed will weaken the dollar. I’m glad the dollar has been holding its own lately, but at this rate we headed to 1923 Germany.

please give me another stimulus check. I'm on the baja gold wagon now.

[Denver Crush]

Originally Posted by ak1971

please give me another stimulus check. I'm on the baja gold wagon now.

I was thinking the same thing. Ive been buying gold like crazy.

[Bob]

I just worry that is how we have become -- with our hand out-stretched to Big Brother who we are dependent on, and who we look to for our salvation.

[ak1971]

Originally Posted by Denver Crush

I was thinking the same thing. Ive been buying gold like crazy.

we are seeing 2002 levels now.
You cant throw cash out of helicopters and not expect inflation.

[Bob]

Originally Posted by Denver Crush

I was thinking the same thing. Ive been buying gold like crazy.

Good choice, silver coins actually make more sense in my mind, as teh dollar tanks what will folks use for currency -- they will trade essentials, and other things of intrinsic value -- Not sure if one could part with gold as easily in day-to-day dealings.... you are still thinking the dollar will survive?

[Beantown Bronco]

Originally Posted by Bob

Obama talks about 95% of the population will get a tax cut

You're reading it wrong I think. I believe it's 95% of the "working" population that would get a tax cut.....not 95% of the "total" population. So people who don't work and don't pay income taxes won't get a rebate check.

[OrangeDoofus]

If you can get an exact quote that would help.

What I remember is that he didn't say "95% of Americans will get a tax cut" but instead "95% of Americans won't have their taxes increased", so that includes people who get tax cuts and people whose taxes stay the same. And people who pay no tax now will (I assume) still pay no tax under Obama's plan.

I'm just going by what I remember him saying, so if you have a reference to a direct quote, share it. If he is saying that people who pay no taxes should get a rebate, then I agree that's really stupid. (Even from a liberal point of view, it's dumb to give people a reason not to work.)

[NaptownChief]

"A Democracy cannot exist as a permanent form of government. It can only last until the citizens discover they can vote themselves largesse out of the public treasury. After that, the majority always votes for the candidate promising the most benefits from the public treasury with the result that the Democracy always collapses over a loose fiscal policy, to be followed by a dictatorship, and then a monarchy."





"We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle."

Winston Churchill (1903)




You cannot bring about prosperity by discouraging thrift. You cannot strengthen the weak by weakening the strong. You cannot help the wage earner by pulling down the wage payer. You cannot further the brotherhood of many by encouraging class hatred. You cannot help the poor by destroying the rich. You cannot keep out of trouble by spending more than you earn. You cannot build character and courage by taking away mans initiative and independence. You cannot help men permanently by doing for them what they could and should do for themselves.

Abraham Lincoln

[ak1971]

Originally Posted by Bob

Good choice, silver coins actually make more sense in my mind, as teh dollar tanks what will folks use for currency -- they will trade essentials, and other things of intrinsic value -- Not sure if one could part with gold as easily in day-to-day dealings.... you are still thinking the dollar will survive?

yes the dollar will still survive, I may be on the gold train right now, but will switch out when it peaks..

[OrangeDoofus]

Originally Posted by Beantown Bronco

You're reading it wrong I think. I believe it's 95% of the "working" population that would get a tax cut.....not 95% of the "total" population. So people who don't work and don't pay income taxes won't get a rebate check.

That might be it too. You have to be really careful about getting people's words correct (especially politicians) because even a small change in words can make a big difference.

[NaptownChief]

Originally Posted by ak1971

but will switch out when it peaks..

And where did you find that crystal ball?

[Denver Crush]

Originally Posted by Bob

Good choice, silver coins actually make more sense in my mind, as teh dollar tanks what will folks use for currency -- they will trade essentials, and other things of intrinsic value -- Not sure if one could part with gold as easily in day-to-day dealings.... you are still thinking the dollar will survive?

Yeah I bought some silver coins as well. I figured I might as well broaden my portfolio.
I dont know about the dollar surviving, if it does fail, something will surely replace it.

[ak1971]

Originally Posted by NaptownChief

And where did you find that crystal ball?

I wish.. I got in too early on the 'rebound' and have been getting my ass handed to me in the past couple weeks. I think this time next year though will be the time to bail with some profits.

[Garcia Bronco]

Originally Posted by Bob

Obama talks about 95% of the population will get a tax cut, well that sounds great, but if 40% get a tax break who did not pay income taxes, wouldn’t that be more like a welfare check? If the Dems get more folks dependent on the government, I guess that increases their base. So the rich don’t pay their full share? What do the rich pay in America compared to other countries around the world? (from non-blog sources please LA.) If corporate taxes are second highest in the industrialized world, are they not paying their full-share?

Oh, isn’t it great that another non-helpful stimulus package is coming, thanks to Dems and Repubs. That money if printed will weaken the dollar. I’m glad the dollar has been holding its own lately, but at this rate we headed to 1923 Germany.

If Obama and Congress creates a tax plan that does this they'll be out of office Congressionally speaking 4 years.

[Garcia Bronco]

Originally Posted by NaptownChief

"A Democracy cannot exist as a permanent form of government. It can only last until the citizens discover they can vote themselves largesse out of the public treasury. After that, the majority always votes for the candidate promising the most benefits from the public treasury with the result that the Democracy always collapses over a loose fiscal policy, to be followed by a dictatorship, and then a monarchy."





"We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle."

Winston Churchill (1903)




You cannot bring about prosperity by discouraging thrift. You cannot strengthen the weak by weakening the strong. You cannot help the wage earner by pulling down the wage payer. You cannot further the brotherhood of many by encouraging class hatred. You cannot help the poor by destroying the rich. You cannot keep out of trouble by spending more than you earn. You cannot build character and courage by taking away mans initiative and independence. You cannot help men permanently by doing for them what they could and should do for themselves.

Abraham Lincoln

Goo dWork!

[ak1971]

these economic stimulus checks are bs. All this stuff is doing is just pro longing the problem.

[barryr]

Obama says he wants to spread the wealth to even those that don't pay taxes and at the same time, we're to believe this isn't welfare and a socialistic mindset that decides punishing those that succeed is fair. Oh, ok.

[Old Dude]

We're already giving $700 billion in welfare checks to Wall Street.

[Paladin]

Yeah. I wonder if that 40% includes the corporations that don't pay taxes.

[elsid13]

Originally Posted by ak1971

these economic stimulus checks are bs. All this stuff is doing is just pro longing the problem.

The stimulus checsk do exact what they were designed to do. Make voters feel like thier representatives care.

If they want to stimulate the economy Congress should look at major infrastructure projects because on average a Fed dollar spent in local area generates about 3 dollars of externally action. But of course this Keynesian approach will take 9 to 13 months to be effective. The check do nothing for the economy.

[Rigs11]

Originally Posted by Paladin

Yeah. I wonder if that 40% includes the corporations that don't pay taxes.

No it includes the CEO's that make millions when their actions bankrupt their companies. It also includes the bills of these companies when they spend 400,000 on spa treatments9AIG).No company oversight right?Free market! the repub way. Funny how repubs always point to socialism when we wanna give the middle class tax breaks or healthcare yet they fully support the spending of billions for wars in OTHER countries and nation building.The repub way!

[barryr]

This spread the wealth approach will do a great job of eliminating jobs, but that's beside the point. Getting the rich is more important and will make the jobless feel so much better as they get their unemployment checks. WHEW!

[ak1971]

Originally Posted by elsid13

The stimulus checsk do exact what they were designed to do. Make voters feel like thier representatives care.

If they want to stimulate the economy Congress should look at major infrastructure projects because on average a Fed dollar spent in local area generates about 3 dollars of externally action. But of course this Keynesian approach will take 9 to 13 months to be effective. The check do nothing for the economy.

Did you listen to any of the hearings on the bailout? Keynesian economics may as well be Klingon to some of these idiots. They sure as hell would have no idea.

[elsid13]

Originally Posted by ak1971

Did you listen to any of the hearings on the bailout? Keynesian economics may as well be Klingon to some of these idiots. They sure as hell would have no idea.

I caught very little of the hearing because of my work. But remember 95% of the members of Congress are Lawyers and have little to no experience with economics or execution of work. What makes it worse is the staffers think they are smarter then really are and depend to much on google to get answers.