***Middle Class Tax Burden Is Now Lowest In 50 Years*** (ideology, insurance, cost)

[imalert]

Originally Posted by padcrasher

Sort of makes these bitter elderly white men at Tea Parties look foolish doesn't it?

Federal Income Taxes on Middle-Income Families at Historically Low Levels — Center on Budget and Policy Priorities

It should make them feel foolish because that's mainly what all of their signs were rallying about yesterday when I passed them on my lunch break.

They'll just find some other lame excuse to get out there & express their hate towards the President.

[silas777]

Originally Posted by nvxplorer

Tea partying crystal ballers...endlessly balling...waaaa, waaaa.

The proof is in the pudding. I'll wait for at least the proposals before forming an opinion. I don't do crystal balls. For the moment, my taxes are down, and that's worth celebrating. Sorry to rain on your whine fest.

I believe those on your side are doing the whining, wonder if you could actually tell me, what legislation it was that obama and the democrats enacted to bring your taxes down?

[florida.bob]

Originally Posted by silas777

I believe those on your side are doing the whining, wonder if you could actually tell me, what legislation it was that obama and the democrats enacted to bring your taxes down?

Ahhhh, Stimulus.

[db1025]

Originally Posted by florida.bob

Ahhhh, Stimulus.

What? Spending tax money like that brings taxes down? What a totally moronic thing to say.... Do you have a brain? How do you think that all gets paid back? Let's see, we were taxed in the beginning to get that money, now we will be taxed again to pay it back. You know this is true so stop denying it.

[nvxplorer]

Originally Posted by silas777

I believe those on your side are doing the whining,

I'm not on a "side," and sorry to inform you, but reality doesn't conform to your beliefs.

wonder if you could actually tell me, what legislation it was that obama and the democrats enacted to bring your taxes down?

The tax credit was included in the stimulus package.

[padcrasher]

Originally Posted by db1025

What? Spending tax money like that brings taxes down? What a totally moronic thing to say.... Do you have a brain? How do you think that all gets paid back? Let's see, we were taxed in the beginning to get that money, now we will be taxed again to pay it back. You know this is true so stop denying it.

What is right! Once again you have no clue. ....LOL

Total: $237 billion

$116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[27]
$70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[27]
$15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
$14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
$6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[39]
$4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
$4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
$4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
$1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000


37% OF THE OBAMA AND DEMOCRATIC PASSED STIMULUS TOTAL COST WAS IN THE FORM OF TAX CUTS

[texdav]

Yep the liberals ;lets just charge it attitude for free stuff.They want healthcare reform but don't want any part of paying for it then will gripe because no one wants to employ them with the extra burden of cost. You would thin tehy would have learned by now that nothig is free really,but I guess they will have to learn the hardway.

[padcrasher]

Originally Posted by texdav

Yep the liberals ;lets just charge it attitude for free stuff.They want healthcare reform but don't want any part of paying for it then will gripe because no one wants to employ them with the extra burden of cost. You would thin tehy would have learned by now that nothig is free really,but I guess they will have to learn the hardway.

Yep liberals...they just covered 30 Million of the 45 Million Americans without ,health insurance.

10 Million by making those that can afford it do so

10 Million more poor covered under Medicaid

10 Million now covered by employers

All paid for by taxes only on the wealthy and only expanding Federal Budget by 1.37%

Thank you liberals.

Bonus: The bill raises so much taxes from the wealthy not only does the program pay for itself, the residual revenue will lower the deficit by over 100 Billion.

[Bagger]

Originally Posted by silas777

I believe those on your side are doing the whining, wonder if you could actually tell me, what legislation it was that obama and the democrats enacted to bring your taxes down?

From PolitiFact | Axelrod claims Democrats passed 25 tax cuts last year without the help of Republicans

Individual Tax Cuts:

1. "Making Work Pay" Tax Credit (Sec. 1001, Page 195). In tax years 2009 and 2010, the Making Work Pay provision will provide a refundable tax credit of 6.2 percent of earned income up to $400 for individuals and up to $800 for married taxpayers filing joint returns.

2. Increase in the Earned Income Tax Credit (Sec. 1002, Page 198). Go to the stimulus bill for all the details, but it essentially expands this benefit for the working poor.

3. Increased Eligibility for the Refundable Portion of Child Credit (Sec. 1003, Page 199). In 2009 and 2010, families who don’t earn enough to pay income tax would be eligible to claim the $1,000 child credit.

4. "American Opportunity" Education Tax Credit (Sec. 1004, Page 199). Increases the Hope Scholarship Credit to $2,500.

5. Refundable First-time Home Buyer Credit. (Sec. 1006, Page 202). This extended and increased the first-time home buyer tax credit from $7,500 to $8,000.

6. Temporary Suspension of Taxation of Unemployment Benefits (Sec. 1007, Page 203). This exempts from taxable gross income the first $2,400 of unemployment benefits.

7. Tax Credits for Energy-Efficient Improvements to Existing Homes (Sec. 1121, Page 208). This provides up to a $1,500 tax credit for qualified energy efficiency improvements.

8. Sales Tax Deduction for Vehicle Purchases (Sec. 1008, Page 203). This allows people to write off state and local sales taxes related to the purchase of a new vehicle costing up to $49,500.

9. Premium Credits for COBRA Continuation Coverage for Unemployed Workers (Sec. 6432, Page 348) 10. Economic Recovery Credits to Recipients of Social Security, SSI, Railroad Retirement and Veterans Disability Compensation Benefits (Sec. 2201, Page 336). This was a $250 payment for senior citizens, disabled veterans and disabled people living on Social Security benefits.

11. Computers as Qualified Education Expenses in 529 Education Plans (Sec. 1005, Page 202). This allows college students to write off the expense of computers and software, provided it's for educational purpose and not for games.

12. Plug-in Electric Drive Vehicle Credit (Sec. 1141, Page 212). Allows purchasers of plug-in electric vehicles to write off up to $5,000 of their purchase (depending on the power of the battery).

13. Tax Parity for Transit Benefits (sec. 1151, Page 219). This relates to an increased exclusion amount for commuter transit benefits and transit passes.

14. Health Coverage Tax Credit Expansion (Sec. 1899, Page 309).

Small Business Tax Cuts:

1. Extension of Enhanced Small Business Expensing (Sec. 1202, Page 221). This is a temporary increase in limitations on expensing some depreciable business assets.

2. 5-Year Carryback of Net Operating Losses for Small Businesses (Sec. 1211, Page 221).

3. Extension of Bonus Depreciation (Sec. 1201, Page 220). This extends by a year election to accelerate the AMT and Research Credits in lieu of bonus depreciation.

4. Exclusion of 75% of Small Business Capital Gains from Taxes (Sec. 1241, Page 228).

5. Temporary Small Business Estimated Tax Payment Relief (Sec. 1212, Page 222).
6. Temporary Reduction of S Corporation Built-In Gains Holding Period from 10 Years to 7 Years (Sec. 1251, Page 228).

Other Business Tax Cuts:
1. Advanced Energy Investment Credit (Sec. 1302, Page 231). This relates to properties designed to reduce greenhouse gas emissions, such as those that produce
energy from the sun, wind, geothermal deposits, fuel cells, microturbines, or an energy storage system for use with electric or hybrid-electric vehicles.

2. Tax Credits for Alternative Refueling Property (Sec. 1123, Page 211). This is a temporary increase for alternative fuel vehicle refueling businesses.
3. Work Opportunity Tax Credits for Hiring Unemployed Veterans and Disconnected Youth (Sec. 1221, Page 223). This is a tax credit to provide incentive to businesses to hire unemployed veterans and "disconnected youth." That latter term is defined, in part, as young adults "not readily employable by reason of lacking a sufficient number of basic skills."

4. Delayed Recognition of Certain Cancellation of Debt Income (Sec. 1231, Page 224).

5. Election to Accelerate Recognition of Historic AMT/R&D Credits (Sec. 1201, Page 220).

Grand total: 25.

[MainelyJersey]

Originally Posted by padcrasher

Yep liberals...they just covered 30 Million of the 45 Million Americans without ,health insurance.

15 Million by making those that can afford it do so

15 Million more poor covered under Medicaid

All paid for by taxes only on the wealthy and only expanding Federal Budget by 1.37%

Thank you liberals.

Bonus: The bill raises so much taxes from the wealthy not only does the program pay for itself, the residual revenue will lower the deficit.

I hereby nominate the highlighted sentence for the funniest line ever penned on City-Data Forum.