I must be rich!

[Gunslinger]

I've heard all about this "tax cuts for the rich" stuff as of late and I have to say I must be rich.  I just filed my taxes for 2003 this week and my refund is just under twice as big as it was before the "tax cuts for the rich"  (2002) PLUS I got a nice check last summer to boot!

Whats so funny is I'm active duty military that takes the standard deduction with two kids who makes under 30K a year (combined household income).  I guess they've lowered the bar for who is "rich"

Thanks Mr President.  I might get my 42" flat panel this year after all

[Eagler]

is anyone who is not on welfare

[GRUNHERZ]

Originally posted by Eagler
is anyone who is not on welfare

I must be rolling in dough then!

[Gunslinger]

Originally posted by Eagler
is anyone who is not on welfare

Do people actually pay taxes on welfare?  I know I never payed taxes on my unemployment when I was on it for a while.

If not how can you give them tax cuts.  If I'm considered "poor" and the govt is allready giving me back 150% of what I pay in how can they acutally "CUT" my taxes.  Its sad cause this kind of program really helps people and the left would just call this "buying votes"

[straffo]

Gunslinger do VAT exist in the US ?

[Ripsnort]

Originally posted by straffo
Gunslinger do VAT exist in the US ?

Value Added tax? Not in the sense that Europe may have. We have a luxury tax on certain items over a certain dollar amount.

[john9001]

i hate you "rich" people  

[straffo]

Originally posted by Ripsnort
Value Added tax? Not in the sense that Europe may have. We have a luxury tax on certain items over a certain dollar amount.

arggggggggggggggghhhhh

Lucky bastiges

[Mickey1992]

Isn't VAT what Americans call (local/state) sales tax?

[Gunslinger]

If it is mickey I live virtually tax free.  I am a Texas state resident (no state income taxes) and I live on a military instalation so if I shop on base I pay no sales tax either.

[Ripsnort]

Originally posted by Mickey1992
Isn't VAT what Americans call (local/state) sales tax?

Well, at a high level, it may look similiar.

Tax reformists want to add a VAT to our current sales tax too, then do away with federal income taxes.

The value added tax is similar to the national sales tax, however, instead of implementing one tax of a certain percentage at the time of retail sale, there is a smaller tax, proposed at 5%, added each time the product is resold or when value has been added. For example a tax is added when a product is passed from a manufacturer to a wholesaler, and again from the wholesaler to the retailer. Most products would be priced higher than they are today because the cost of goods would include this built in tax. The Value added tax proposal is sponsored by Representative Sam Gibbons of Florida and Senator Ernest Hollings of South Carolina.

[kappa]

Do people actually pay taxes on welfare? I know I never payed taxes on my unemployment when I was on it for a while. gunslinger

You should have.. Unemployment compansation is taxable and is taxed..

[FUNKED1]

If you get low enough income, you actually get EIC, credits.
One year in grad school, I had very little income, spent almost all of it on educational expenses, and I got all of my income taxes refunded plus some extra.

[Munkii]

Originally posted by Gunslinger
I've heard all about this "tax cuts for the rich" stuff as of late and I have to say I must be rich.  I just filed my taxes for 2003 this week and my refund is just under twice as big as it was before the "tax cuts for the rich"  (2002) PLUS I got a nice check last summer to boot!

Whats so funny is I'm active duty military that takes the standard deduction with two kids who makes under 30K a year (combined household income).  I guess they've lowered the bar for who is "rich"

Thanks Mr President.  I might get my 42" flat panel this year after all

Your refund is twice as big this year because of tax laws that changed.  If you didn't file a new W4 after they changed, they withheld more than they were supposed to until May 31, 2003.  Therefore you get back more than usual because you paid in more than you were supposed to.  Your return will be back to normal next year.  Nothing to do with "tax cuts for the rich" but more "taxs laws changed, everyone pays less"

[Eagler]

It's YOUR money .. you should get it back...you earned it not the gov!