not to mention taxing small businesses out of existence.
On Oct 13, 6:54 am, Travis <[EMAIL PROTECTED]> wrote:
> But B-HO fails to mention that he will let the bush tax cuts expire which
> will give 100% of taxpayers a tax increase.
>
>
>
> On Mon, Oct 13, 2008 at 5:27 AM, mark <[EMAIL PROTECTED]> wrote:
>
> > Barack Obama says he will give 95 percent of all American workers a
> > tax cut but does not mention that his plan would send checks to tens
> > of millions of tax filers who pay no personal income taxes - payments
> > that critics say look "suspiciously like welfare."
>
> > Mr. Obama's campaign promise, which he has repeated in his speeches
> > and in the presidential debates, stems from his "Making Work Pay" tax
> > cut that will give a $500 refundable tax credit to every worker or
> > $1,000 to each working couple. But because this provision in his
> > economic-recovery plan is "refundable," a large number of middle- to
> > lower-income workers who have no income-tax liability after taking tax
> > credits and deductions the that Internal Revenue Service allows, will
> > be given the equivalent of the tax cut in the form of direct payments
> > from the U.S. Treasury - funded by higher-income taxpayers.
>
> > Because the IRS says that nearly 46 million tax filers - one-third of
> > all filers - had no tax liability in 2006, there is the question of
> > how millions of Americans can receive an income "tax cut" when they
> > pay no taxes.
>
> --
> *~@):~{>
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