Tax cuts for people who don’t pay income tax?
Barack Obama wants a stimulus plan that may include $300 billion worth of tax cuts. But who are the tax cuts really for? During his Presidential campaign Obama promised a tax cut to 95% of working families. But the question is how you deliver tax cuts to people who don’t pay income taxes? Almost half of the 95% of Americans that Obama was talking about don’t even pay income taxes. Obama’s goon squad (his voters) have cried out and said that they 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. Which turns Social Security and Medicare into a welfare program.
Obama’s “tax cut” is really a “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 protects his true identity
Now his stimulus package 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. Offering relief? What they really meant was “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.
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.
There is only one thing that will solve all of our tax problems, it’s called the Fair Tax Act. Do you know what the Fair Tax is?
* Ensures Social Security and Medicare funding
* Enables workers to keep their entire paychecks
* Enables retirees to keep their entire pensions
* Refunds in advance the tax on purchases of basic necessities
* Allows American products to compete fairly
* Brings transparency and accountability to tax policy
* Closes all loopholes and brings fairness to taxation
* Abolishes the IRS
For more information visit www.fairtax.org.
Related Posts
- IRS has released data on who paid what in 2006
- Obama’s 95% “tax cut” illusion
- Obama’s tax plan highlights
- The real story behind Obama’s tax cuts
- Obama wants to tax the wealthy, again
Tags: Barack Obama, federal insurance contribution act, fica, income tax, medicare, Social Security, tax cuts. fair tax
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January 6th, 2009 at 7:11 pm
In spite of the name of the enabling act, Social Secuity is a tax and should be treated as such. Many payees will derive no benifit from it; all would be better investing in a simple savings account. The solution to the problems it poses is to stop collecting the tax and stop paying money out (which is where it is redistributative). This may involve a transition period since some have come to rely upon it.
While I support the fairtax generally, I should also point out that under certain circumstances the “prebate” will result in money going to individuals who don’t pay taxes. I think the fairtax would be stronger without it, there is no reason certain necesseties can’t be excluded as with state sales taxes.
November 22nd, 2009 at 10:49 pm
I’ve been engaged in taxations for longer then I care to acknowledge, both on the individualized side (all my employed life history!!) and from a legal point of view since passing the bar and pursuing tax law. I’ve offered a lot of advice and rectified a lot of wrongs, and I must say that what you’ve posted makes complete sense. Please carry on the good work - the more individuals know the better they’ll be armed to deal with the tax man, and that’s what it’s all about.