1/25/08 9:51 am UPDATE: Commenter burnitup shares this link which shows us the ridiculous concession made by the Bush administration. [emphasis mine]
Individual taxpayers would get up to $600 in rebates, working couples $1,200 and those with children an additional $300 per child under the agreement. In a key concession to Democrats, 35 million families who make at least $3,000 but don't pay taxes would get $300 rebates.Burnitup is right. This is wealth redistribution (aka theft). If you aren't paying taxes at all, how are you receiving a so-called rebate? This is just a gift courtesy of those in the higher income brackets and middle class.
This legislation has not been approved yet by the Senate. Senator Reid has said they will try to get the legislation to the White House by February 15th, but it will likely contain more spending.
Bush had supported larger rebates of $800-$1,600, but his plan would have left out 30 million working households of people who earn paychecks but don't make enough to pay income tax, according to calculations by the Urban Institute-Brookings Institution Tax Policy Center. An additional 19 million households would receive only partial rebates under Bush's initial proposal.So 30 million people are receiving the hand-outs at the bargain price of $9 billion.
Anyone want to share how much they think they will get from this?
1/25/08 6:09 am
If you would like to know if you qualify for a rebate from the proposed economic stimulus package, check here.
How in the heck does one get a rebate on something they haven't paid? Why aren't Pelosi and Reid being asked this question by the media?
http://news.yahoo.com/s/ap/20080124/ap_on_go_co/economy_stimulus
" In a key concession to Democrats, 35 million families who make at least $3,000 but don't pay taxes would get $300 rebates."
This is wealth redistribution. Others may call it theft. Or just par for the course for the donks. Want free healthcare someone else can pay for it. Want free retirement someone else can pay for it. Want free childcare someone else can pay for it.
It's so funny that even the GOP candidates like Rudy, McCain and Huckabee and even Romney (shame on him) aren't even free market advocates. They all talk about "targeted" tax cuts and "economic stimulus" packages as if central planning actually works more effectively than leaving people alone and letting them figure it out on their own.
To the Dems credit, at least they tell you upfront we're slaves to them.
That would be $10.5 billion in welfare. Remember when the Pubbies were in favor of steps to end the welfare state?
I agree with burnitup.
I had a friend that I worked with who got and earned income credit on her taxes. She did not pay any taxes but with the EIC she got a rebate. How does the government justify that? Robin Hood style redistribution of wealth. Just a populist effort on the part of Dummocrats to make their party look like they are actually accomplishing something in Congress. Rat Bastards.