Monday, January 21, 2008

Republicans and Democrats begin debate over tax rebates

As President Bush and congressional Democrats begin negotiations on a package of measures to stimulate the economy, the big fight will be about whether to put extra money in the hands of tens of millions of low-income families who (already get government assistance and) paid little or no income tax last year. Nearly 40 percent of Americans owed (or paid) no federal income tax last year (in fact got a tax refund), though even low income workers paid taxes for Social Security and Medicare )(which they will receive benefits from). While Bush has refused to disclose specifics (lie, he will later after he hears from the Demo's) of his $145 billion plan, administration officials and Republican lawmakers favor a proposal that would offer a proposal that would offer rebates of as much as $800 for individuals and $1,600 for families but only if they paid that much in taxes last year (giving them some of the money that they earned back). For practical purposes, analysts estimate, a family of four (husband, wife and two kids) with an income of $24,000 would receive no government payments at all (but should receive a child tax credit, could be up to $2,000, or government assistance), and families with incomes below $40,00 would a most receive partial rebates (the amount they put in). But a household with an income of $100,00 or more could get back $1600 (but the Democrats wants families with incomes as high as $60,000 to receive nothing). By Edmund L. Andrews, 2008, The New York Times.

We have seen the economy grow because of the President tax cuts. Even though the Democrats and the liberal media don't want to give President Bush's tax cuts credit for the steady growth we have had in the last six years, but we know it works. So why don't we give people some of their money back. Because the Democrats want to use that money to but votes. They know by giving the people on the bottom money they will vote for the people who might give them more free money in the future. This is using tax payer's money to buy votes.

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