You are giving the Republicans WAY too much credit.. sm
Posted By: m on 2009-03-07
In Reply to: At lest Obama is TRYING to better the situation. - Jan
Clinton was the one who started the Fannie Mae/Freddie Mac fiasco by "helping" folks who couldn't afford a house to have one. Bush called for reforming FM/FM, but the Democrats fought him down on that one, with Barney Frank leading the charge saying that they were not in trouble.
Now with Obama leading the way to financial disaster for the US with his frantic spending, you just can't lay this all at the door of the Republicans.
Personally, I think both parties are flawed and there needs to be a thorough housecleaning, starting at the top, but I don't know if there is anyone left in this country, even T. Boone Pickens or H. Ross Perot, who could straighten this mess out.
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You are giving her credit for something
she will NEVER do. She will never unite the party. She will only go on and on and on until it is impossible for a democrat to win this year, making McCain the president. All she wants is to be president, and if Obama gets in there, she will have to wait until 2016 when she'll be going on age 68. She doesn't care about the country or the democratic party. All she cares about is power, not about anything but HER and Bill. Sad, but the truth.
Republicans favor giving poor families subsidies to afford private schools. Obama opposed.
Yet Obama sends his daughters to a private school, 29,000 for EACH KID. Hypocrisy, here we come. Geesh, not even in office yet.
The 2008 credit has to be paid back (no interest), but not the 2009 credit.
nm
Palin, the candidate that just keeps giving and giving...
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credit for safety = credit for 9/11
If Bush wants takes credit for keeping us "safe" from terrorist attacks since 9/11, then he has to take credit for the fact that we experienced the largest terrorist attack in US history under his presidency, as well. He can't have it both ways!
I gave credit where credit was due.
I think Obama did a good job not saying anything about the hostage situation with the captain and I commend him for giving the order to the Navy Seals to do what they did. But still.....I think the heroes and the biggest thank yous need to go to the ones who risked their necks to save the captain.....and that would be the Navy Seals.
All in all, I don't like a lot of things that Obama has done. I know Bush didn't do us any favors in his 8 years either, but Obama is now in office and I do not like the way our country is heading.
As for not giving Obama any slack....how many of you people gave Bush slack on anything even when he did something good....cuz believe it or not.....he did some good things too. It goes both ways.
What did he say? Did he take credit for somebody else's
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You give him a lot of credit
In your view one man single-handedly has brought the world down in 5-1/2 years. That's really giving Bush a lot of power. If Clinton and other Democratic presidents were soooo great then why didn't they single handedly make the world a utopian place when they were in office? Wow, Democratic presidents must have really sucked if you have the view that the Office of the President of the United States holds the power to either make the world Heaven or Hell. It seems the Dems could do neither. Man, they were lamer than I ever imagined if your view is correct.
You sure do hand her credit for ...
having a lot of power. I like Palin, but I don't believe that she has the power to "almost single handedly divide the country." Perhaps she is a better leader than I thought...
the education credit -
Obama says the first $4000 of an education would be free and that you would have to work doing community service to pay for that. That being said, if you want a community college education, $4000 would pay that - if you want an advnaced degree, then of course it would not be free.
the Hope credit is available for the 1st 2 yrs for everyone
From IRS website: Who can claim the Hope Credit?
Generally, you can claim the Hope Credit if all three of the following requirements are met.
You pay qualified tuition and related expenses for the first 2 years of postsecondary education.
You pay the tuition and related expenses for an eligible student.
The eligible student is you, your spouse, or a dependent for whom you claim an exemption on your tax return.
It's worth a $1,500 tax credit, which according to my professor was so that anyone could afford two years at a community college, because it was essentially free since you would get it back as a tax refund.
well, i clearly said hope CREDIT
how many first and second year community college students are making over $47,000 per year anyway?
No. Show me where he has said the tax CREDIT will
Becuase if it is not a refundable credit (like he earned income credit is) then it can only apply toward tax LIABILITY...meaning you cannot get it unless you owe tax. This is not the same thing as a tax cut. A tax CREDIT has more value than a tax cut, because it is paid directly against owed tax liability.
With regard to the tax CUT, this is simply a TAX RATE DECREASE. He is not proposing to send every man, woman and child $500 or $1000. In fact, the language clearly states "up to" $500 for an individual worker and "up to" $1000 for working couples. This is a top cap limiting the benefit on can receive from the adjusted tax rate.
An economic stimulus is a SEPARATE ISSUE...as I have pointed out below and as SAM herself has referred to. It is a one-time issuance of monies that will be paid to 95% of workers. The stimulus would be structured very similar to the one we have already received under Bush.
Now here this. The ONLY WAY that a person who has no tax liability could receive any benefit would be if the tax CREDIT (not tax cut) is a refundable credit. THAT is the language I am looking for. Where does it say that the tax credit is a refundable credit?
Amanda....it says that the credit will...
eliminate federal taxes for 10 million low income families. Someone has to make up for that lost revenue. Or are you saying they are really not paying taxes anyway so when he says he is giving them a tax credit he is not, he is lying about it? So which part is lying and which part is true? They were paying taxes and now they are not going to be because of the credit, or they were never paying taxes anyway so it is a credit name only. Please advise.
it would if they owed less than the credit - nm
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Sam, I don't see where he says only certain people will get that credit - nm
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what are you giving up?
What are some things that you and/or your family are giving up due to the high price of gas and now the rise in food prices? My family - just me and my husband now - buy 2 large packs of water at Sam's every 2 weeks and drink this, sometimes getting some crystal light or something to put in it. We eat a meal once a week and that's it. Needless to say - we are both losing weight. But to fill up his truck - that's $100 a week - even though he only works 3 days a week now - and I work at home - so I only go out twice a month - to a dr. appointment and then the second time to get the water.
I'm giving up
It is so hard to have a positive outlook on society anymore. I think I should have been born about 100 years ago. This country has no more morals, all people care about is political correctness and not stepping on anyone's toes. The God of this nation has been pushed out, and people want to know why kids are shooting each other. We have become so pompous we think we can take care of ourselves. I want to live in a time when women respected their bodies and didn't just give it up to anyone. Where rapist were few and far between because they would be hanged if caught. They couldn't wiggle their way out of the judicial system on a technicality. Where we didn't need welfare because neighbor helped neighbor and everyone worked hard and worked together. Where there wasn't an obesity problem because kids played outside from after school until "the street lamp came on". Where people knew God and had a relationship with him. Where "love thy neighbor" was not just a commandment, but an action.
At 22 years old, I wonder if there will be an USA when I'm 40? Is it possible for our nation to survive at the rapid rate of decline we are experiencing for 18 more years? I used to pray to Jesus to wait to come, knowing it was selfish, because I knew so many people who didn't know his love and were not saved, including my own parents, and it killed me to think that we may be separated eternally because of that. Now I just can't help but to pray that He comes soon. All these movies about a post apocalyptic United States don't seem so far fetched now, minus all the zombies that is. We have to wake up. We need to fall to our knees and beg God for forgiveness and beg him to come back to our nation. If you don't believe in Him or want to scoff at me for saying this, I am so sorry. I am so sorry that you do not know the love of Christ. I just hope you get to know Him before it's to late.
God help us.
Not particularly.....just giving
the board a good lookover before I go lie down.
Too many with no b*lls giving in to a few who believe
nm
For all those that think O is giving you a tax cut.....what
//
credit to the repub congress
Are you KIDDING me? They shut down the government in a tiffy fit. They fought him tooth and nail on everything. They spent countless time and money trying to impeach him. You need to get a library card an USE it, girlfriend.
Ok, I was wrong...gave you too much credit.
Go ahead and Bush-bash. Probably giving someone else a rest.
I'm sorry LVMT........ credit should have gone to you for posting! My bad! nm
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Credit-Frenzied society
I was raised with good old Irish ethics. Work hard. Get ahead. Save up. Pay cash.
Now, granted, that's not the norm these days, but it was the norm for most of the life of this great country.
I dislike the consumer mentality these days. Everyone thinks they need a new car every two years. A new computer every six months. A new cell phone every time a new model comes out. A new home every time they turn around. And they're swimming in debt because of it.
As Will Rogers said -
"We hold the distinction of being the only nation in the history of the world ever to go to the poor house in an automobile."
credit crunch resolved
Now we will be able to borrow our own money from the banks for all the things we need and pay taxes, interest and inflation. I am firing all this jokers in November.
Get Ready to Pay off your credit cards
The government is looking into buying some banks instead of subprime mortgages. They are going to need some capital. All ready to pay up?
actually he says he will tax credit them for keeping jobs here... nm
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okay - what do you think earned income credit is?
My sister pays no taxes - she has no taxes taken out of her check every week - she works a full time job, but she still every year gets back $5000-6000. Now why do you think that is any different than what you are talking about now? It is the same thing...
Still can't come up with that refundable credit language?
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Please explain how the refundable tax credit...
that was outlined from his own documentation, that states the credit will eliminate federal taxes for 10 million low income workers...figures into that table. And then explain to me how taxing others higher than those low income folks to make up the loss of that revenue is not marxist re-distribution of wealth. Thank you.
Yeah and I give him credit
that's one time he told the truth.
There is also all that untraceable credit card...
money. I imagine a few campaign law restrictions were shattered with that. and yes, he took money from lobbyists in the form of bundlers. Mccain did too. They ALL do.
I think you give the public too much credit!
They won't even know about it until someone shows up at the door to take their kids to the "campus." The American public is too apathetic to act in their own best interests AND too easily fooled by pretty words.
You are correct and I will give him credit for that, but SM
we need to remember that it takes money to train the SEALS and he is going to cut the military budget. Also we need to stop referring to these pirates and terrists as criminals. Remember what Bin Laden said back in the 90s. When Clinton pulled us out of Somalia because the soldiers were killed and drug in the street (Black Hawk Down), he knew the US was weak. You cant show weakness to your enemies.
I will give The Teleprompter credit. nm
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Long but interesting ....tax credit
Sorry the link would not post correctly. This is from the AP
By STEPHEN OHLEMACHER, Associated Press Writer – 1 hr 14 mins ago
WASHINGTON – Millions of Americans enjoying their small windfall from President Barack Obama's "Making Work Pay" tax credit are in for an unpleasant surprise next spring.
The government is going to want some of that money back. The tax credit is supposed to provide up to $400 to individuals and $800 to married couples as part of the massive economic recovery package enacted in February. Most workers started receiving the credit through small increases in their paychecks in the past month. But new tax withholding tables issued by the IRS could cause millions of taxpayers to get hundreds of dollars more than they are entitled to under the credit, money that will have to be repaid at tax time. At-risk taxpayers include a broad swath of the public: married couples in which both spouses work; workers with more than one job; retirees who have federal income taxes withheld from their pension payments and Social Security recipients with jobs that provide taxable income. The Internal Revenue Service acknowledges problems with the withholding tables but has done little to warn average taxpayers.
"They need to get the Goodyear blimp out there on this," said Tom Ochsenschlager, vice president of taxation for the American Institute of Certified Public Accountants.
For many, the new tax tables will simply mean smaller-than-expected tax refunds next year, IRS spokesman Terry Lemons said. The average refund was nearly $2,700 this year.
But taxpayers who calculate their withholding so they get only small refunds could face an unwelcome tax bill next April, said Jackie Perlman, an analyst with the Tax Institute at H&R Block.
"They are going to get a surprise," she said.
Perlman's advice: check your federal withholding to make sure sufficient taxes are being taken out of your pay. If you are married and both spouses work, you might consider having taxes withheld at the higher rate for single filers. If you have multiple jobs, you might consider having extra taxes withheld by one of your employers. You can make that request with a Form W-4.
The IRS has a calculator on its Web site to help taxpayers figure withholding. So do many private tax preparers.
Obama has touted the tax credit as one of the big achievements of his first 100 days in office, boasting that 95 percent of working families will qualify in 2009 and 2010.
The credit pays workers 6.2 percent of their earned income, up to a maximum of $400 for individuals and $800 for married couples who file jointly. Individuals making more $95,000 and couples making more than $190,000 are ineligible.
The tax credit was designed to help boost the economy by getting more money to consumers in their regular paychecks. Employers were required to start using the new withholding tables by April 1.
The tables, however, don't take into account several common categories of taxpayers, experts said.
For example:
_A single worker with two jobs making $20,000 a year at each job will get a $400 boost in take-home pay at each of them, for a total of $800. That worker, however, is eligible for a maximum credit of $400, so the remaining $400 will have to be paid back at tax time — either through a smaller refund or a payment to the IRS.
The IRS recognized there could be a similar problem for married couples if both spouses work, so it adjusted the withholding tables. The fix, however, was imperfect.
• A married couple with a combined income of $50,000 is eligible for an $800 credit. However, if both spouses work and make more than $13,000, the new withholding tables give them each a $600 boost — for a total of $1,200.
There were 33 million married couples in 2008 in which both spouses worked. That's 55 percent of all married couples, according to the Census Bureau.
• A single college student with a part-time job making $10,000 would get a $400 boost in pay. However, if that student is claimed as a dependent on a parent's tax return, she doesn't qualify for the credit and would have to repay it when she files next year.
Some retirees face even bigger headaches.
The Social Security Administration is sending out $250 payments to more than 50 million retirees in May as part of the economic stimulus package. The payments will go to people who receive Social Security, Supplemental Security Income, railroad retirement benefits or veteran's disability benefits.
The payments are meant to provide a boost for people who don't qualify for the tax credit. However, they will go to retirees even if they have earned income and receive the credit. Those retirees will have the $250 payment deducted from their tax credit — but not until they file their tax returns next year, long after the money may have been spent.
Retirees who have federal income taxes withheld from pension benefits also are getting an income boost as a result of the new withholding tables. However, pension benefits are not earned income, so they don't qualify for the tax credit. That money will have to paid back next year when tax returns are filed.
More than 20 million retirees and survivors receive payments from defined benefit pension plans, according to the Employee Benefit Research Institute. However, it is unclear how many have federal taxes withheld from their payments.
The American Federation of State, County and Municipal Employees union raised concerns about the effect of the tax credit on pension payments in a letter to Treasury Secretary Timothy Geithner in March.
Geithner responded that Treasury and IRS understood the concerns and were "exploring ways to mitigate that effect."
Rep. Dave Camp of Michigan, the top Republican on the tax-writing House Ways and Means Committee, said Geithner has yet to respond to concerns raised by committee members.
"So far we've got the, 'If we don't address this maybe it will go away' approach," Camp said.
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Um, excuse me, since when did giving
intelligent, well thought-out replies and giving one's opinion constitute bullying?
Gimme a break. Sam has every right to be here and she brings a lot to this board. Maybe if those who bash follow her lead in effective posting, the atmosphere here would be shall I say more of a good debate than a circus?
No, he's just giving them HOPE. Something that
Get used to it. She's the story that just keeps on giving
there will be plenty more where that comes from.
Why are you being so mean to everyone giving the O in Obama a bad name!
nm
I am giving him a chance and I
know that this isn't a quick fix. I'm realistic enough to know Obama cannot wave a magic wand and make this all go away. I'm just saying that for a man who hasnt' been pres for a whole week......he has made a lot of promises already with 2 already broken. I'm not trying to get a lynching mob together. I just want to stay informed of what my president and the government is doing because I refuse to just assume they are making the right decisions. Holy crap people.....seriously! Xanax....try some.
You mean too many with brains giving in.
There is a big difference between intelligence and lack of cahones.
I was just giving figures from what they said.
Dont' burn me for that.
AIG - the gift that keeps on giving. sm
Beginning with the first bailout under the Bush administration, and accelerating apace (which one wouldn't have thought possible) under Obama, the ineptitude in dealing with every aspect of the current economic problems is simpy staggering.
This ineptitude includes both Presidents, both Treasury secretaries, the man who was/is Fed chairman under both Presidents(Bernanke), Congress, and regulatory agencies such as the SEC and FDIC.
Consider this interesting little fact: It has taken six months for the Ethics Committee to investigate some fairly simple charges of financial misconduct by Charlie Rangel, but Congress can pass three major bills, two of which were so large they couldn't be read by anyone, in a matter of a few days (and in the case of the third bill which unconstitutionally taxes AIG bonuses, in just one day).
My dear friends, this country is in trouble. The government is behaving impulsively and has, in my long life, never before been in such a state of disarray. Our response to the financial crisis is beginning to look like nothing so exquisitely as a Chinese fire drill.
We are apparently determined to prove to the world that we're going to make a pig's breakfast out of this crisis, but hey...at least we did it fast!
Impulsive and reckless government - THAT is what the American people (and the world) are seeing, and THAT is what I believe is beginning to frighten us even more than the economic crisis itself.
It seems "Barack" takes credit for a lot and blame for nothing.
Marx: Centralize credit in the banks.
private property. Right any bells?
How about that larger refundable tax credit of McCain's?
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REQUIRED IN ORDER TO GET THE COLLEGE CREDIT! NM
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It may be hard to credit Bush with no attacks when there is...sm
nothing tangible to show for it, right?
But then, that's the whole point.
No attacks on U.S. soil since 9/11.
There's the proof.
I'll be a believer and give President Bush the credit for this one.
Yes, earned income credit, we pay our taxes....
Whaddya you make? 7 cents a line? LOL. You call that paying taxes? HAHAHAHA!
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