posted 10-25-2008 09:50 AM                  

So much is being said about spreading the wealth as being Socialism. If that is true then we have had Socialism for the past eight years.
If one were to look closely at the Economic Stimulus package and the checks we have received twice in the past eight years vs Obamas plan you will find there is little difference between the two.

Under Obamas plan those making over $250k would pay more taxes and those under less or no change.

Under the Stimulus program checks in the amount of $300 to $600 per person were issued to anyone filing taxes and meeting the followin criteria.:

(From the IRS website)
Basic Eligibility

The IRS will use the 2007 tax return to determine eligibility and calculate the basic amount of the payment. In most cases, the payment will equal the amount of tax liability on the return with a maximum amount of $600 for individuals ($1,200 for taxpayers who file a joint return) and a minimum of $300 for individuals ($600 for taxpayers who file a joint return).

Even those who have little or no tax liability may qualify for a minimum payment of $300 ($600 if filing a joint return) if their tax return reflects $3,000 or more in qualifying income. For the purpose of the stimulus payments, qualifying income consists of earned income such as wages and net self-employment income as well as Social Security or certain Railroad Retirement benefits and veterans’ disability compensation, pension or survivors’ benefits received from the Department of Veterans Affairs in 2007. However, Supplemental Security Income (SSI) does not count as qualifying income for the stimulus payment.

Low-income workers who have earned income above $3,000 but do not have a regular filing requirement must file a 2007 tax return to receive the minimum stimulus payment. Similarly, Social Security recipients, certain Railroad retirees, and those who receive the veterans’ benefits mentioned above must file a 2007 return in order to notify the IRS of their qualifying income.

The IRS emphasized that people with no filing requirement who turn in a tax return to qualify for the economic stimulus payment will not get a tax bill. People in this category will not owe money because of the stimulus payment.

Additional Payments for Parents and Others with Qualifying Children

Parents and anyone else eligible for a stimulus payment will also receive an additional $300 for each qualifying child. To qualify, a child must be eligible under the Child Tax Credit and have a valid Social Security number.

Limitation

To be eligible for a stimulus payment, taxpayers must have valid Social Security numbers. Anyone who does not have a valid Social Security number, including those who file using an Individual Taxpayer Identification Number (ITIN), an Adoption Taxpayer Identification Number (ATIN) or any other identification number issued by the IRS is not eligible for this payment.

Both individuals listed on a married filing jointly return must have valid Social Security numbers to qualify for a stimulus payment.

Eligibility for the stimulus payment is subject to maximum income limits. The payment, including the basic amount and the amount for qualifying children, will be reduced by 5 percent of the amount of income in excess of $75,000 for individuals and $150,000 for those with a Married Filing Jointly filing status.

Individuals who pay no tax and who have less than $3,000 of qualifying income will not be eligible for the stimulus payment.

Special Circumstances for Recipients of Social Security, Railroad Retirement and Certain Veterans Benefits

Individuals who receive Social Security benefits, Railroad Retirement benefits and certain veterans’ benefits may have to follow special filing requirements in order to receive the basic amount:

*
Those who have already filed a 2007 return reflecting qualifying income of $3,000 or more do not have any additional filing requirements and do not need to do anything more to receive their payment.

*
Those who have already filed a 2007 return showing less than $3,000 in qualifying income and did not list their Social Security, Railroad Retirement or certain veterans benefits should file a Form 1040X to list those non-taxable benefits and qualify for a payment.

*
Those who are not required to file a 2007 return but whose total qualifying income including Social Security, certain Railroad Retirement and certain Veterans benefits would equal or exceed $3,000 should file a return reporting these benefits on Line 14a of Form 1040A or Line 20a of Form 1040 to establish their eligibility. Please note the form lines just mention Social Security, but use these lines even if your only benefits were Railroad Retirement or veterans’ benefits.

What does this mean?
It means if you make $10,000 dollars and have paid your taxes you will receive $600.00.
If you make $74,999 you will receive $600.00
If you make $80,000 you will receive $350.00
If you make over $87,000 you will receive nothing.

So whre one person may get 100% of hs tax money back, those that make more make only get 1-10% or even 0% of their taxes back.

This sounds an awful lot like a spreading the wealth to me

The difference I see is not what is being done but how it is packaged. If Obama would have just stated he was going to send out checks then everyone would have been happy with no reason to complain. It still is a redistribution of wealth.

Sooo.. Socialism as described by those opposing Obamas plan is alive and well right now as we speak.

posted 10-25-2008 10:25 AM                  

And you believe that?

posted 10-27-2008 02:07 PM                  

Isn't that the same as making my taxes nothing and making yours $5400? The richer paid more. Again it was just disguised as a rebate. If they would have just lowered everyones taxes by 10% then it would have been fair and even.

posted 10-27-2008 04:12 PM                  

quote:

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Originally posted by ed monahan:
The rebate was a once in a lifetime thing (probably), a redistribution is forever (probably). That is a big difference.

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As you say "probably" lol The rebate was twice(if memory serves me right) and nothing is forever(except taxes in general)lol

But the point is that government has always redistributed wealth as a way of keeping the haves and the have nots from getting too far apart.

posted 10-27-2008 09:22 PM                  

On Good Morning America (ABC),,,,B.O. claims he was misunderstood about his telling Joe the Plummer about 'redistribution of wealth' statement. More or less,,,denied he said it, or meant it that way.

REALLY? 2001,,,ON Chicago PBS station interview:
http://www.youtube.com/watch?v=iivL4c_3pck

He believes in it! Take from the middle and upper income taxpayers,,,,and give it to the poor!
Same thing Karl Marx's theory spewed > socialism, communism,,,,,

http://atheism.about.com/od/philosophyofreligion/a/marx_3.htm

posted 10-28-2008 05:15 AM                  

As for the rest of you that make more then 2 mil a year I feel your pain.

http://www.washingtonpost.com/wp-dyn/content/story/2008/06/09/ST2008060900950.html

Sounds to me like the republican theory is more poor is good for the economy.
More poor= more welfare
More poor= more crime
more poor= more drug addiction

How is that good?

posted 10-28-2008 05:33 AM                  

quote:

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Originally posted by MDProwler:
Alley Gator, if you call $250k middle class then I have a long way to go.

As for the rest of you that make more then 2 mil a year I feel your pain.

http://www.washingtonpost.com/wp-dyn/content/story/2008/06/09/ST2008060900950.html

Sounds to me like the republican theory is more poor is good for the economy.
More poor= more welfare
More poor= more crime
more poor= more drug addiction

How is that good?

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But hey, keep those tires inflated and spread the wealth around Commie.

Your friendly community organizer.