Here is the sub heading for the article (as if the headline wasn’t bad enough):
Tax Day rhetoric aside, Americans’ bills are lower than recent years
So, I’m not a student of journalism, but wasn’t one of the core beliefs of a free press to scrutinize the government, not name-call American citizens?
Anyway…here are some quotes from the second half of the article:
The massive economic recovery package enacted last year included about $300 billion in tax cuts over 10 years. About $232 billion was in cuts for individuals, nearly all in the first two years.
Can you say, campaign finance reform? Seriously, $232 billion in tax cuts for individuals in the “first two years”? Does anyone else see this as buying votes, or am I just a partisan hack (easy now)? Even if you didn’t approach it from the perspective of vote buying, $300 billion over ten years amounts to $3o billion a year. If you divide that by 300 million, then you get a whopping $100 per capita per annum (I realize that not every American pays taxes…I simplified for my fading math skills sake…oh, and I’ll stop with the Latin, because I don’t really know how to use it properly). Now, I wouldn’t complain about having to pay $100 less per year in taxes, but how about some real tax reform instead of off-year election planning.
The most generous was Obama’s Making Work Pay credit, which gives individuals up to $400 and couples up to $800 for 2009 and 2010. The $1,000 child tax credit was expanded to more families, and the working poor can qualify for as much as $5,657 from the Earned Income Tax Credit.
Extending the $1,000 child tax credit to more families sounds like a good thing to do on the surface, but the likely objective is to get more families (read: gullible voters) to rely on their government).t to provide them with what they need. They (the Democrat-controlled state) are taking us to Pinocchio’s Pleasure Island with their hard-to-refuse offers of sweets and “free” money, but we all know how that ends for Pinocchio and the boys (is it a coincidence that they are all turned into donkeys?).
There were also credits for qualified families who buy new homes or make energy improvements to existing ones, as well as tax breaks to help pay college tuition or buy new cars.
I assume that the “buy new cars” tax credit is referencing the not-so-successful Cash for Clunkers program. If so, was that credit really helpful? Perhaps to the individuals who were already poised to purchase a new car, but economically it was a miserable disaster.
“From investing in small business to buying a home or making it energy efficient, to sending your children to college to buying a car, these tax cuts are helping families and businesses across the country,” said Rep. Russ Carnahan, D-Mo.
And the increased jobless claims are indicative of what, exactly?
For the first time, the Medicare payroll tax would be applied to investment income, beginning in 2013. A new 3.8 percent tax would be imposed on interest, dividends, capital gains and other investment income for individuals making more than $200,000 a year and couples making more than $250,000.
In 2013, the tax is for people making over $20o,000. In 2023, at what level will the tax kick in? $150,000? $100,000? A tax on investment like this is disturbing because, in theory, even your savings account could be a target for (additional) taxation. Where does it stop? There are many conclusions you can reach from a scenario where the government reaches deeper and deeper into people’s wallets, and none of them are pretty (but they probably don’t involve zombies).
Dennis Miller, on his radio show today, listed off at least a score of things on which we pay tax, either directly or indirectly. If I can, I will update with a link to that list.