Posted on 02/21/2009 5:04:26 AM PST by stevie_d_64
For those of us who smoke-that extra 13 bucks a week should just about cover the new fed. taxes on a carton of cigs! (Which start also on April 1st) Actually the tax will be about 6.50 on a carton, so you’ll have another 6.50 to line your pockets that week. Funny how that works out.
Thank you blessed Lord Obama!
To the demonized minority that this grossly unfair tax addresses I say stock up by Mar.31st and then none of us buy any tobacco products for a week...and then, ideally quit altogether. The tobacco cos. have already begun raising their wholesale prices. (Ouch!)
Tobacco products account for nearly a third of my business, I’m willing to take the hit of no sales (temporarily) if I knew it was for a purpose.
Otherwise, this tax will be the death of me, biz-wise.
If my biz was ran into the ground by my own ineptitude, I could deal with it and try to learn from it, but failure because of gov. is unacceptable!
>Are only “hardworking Americans” eligible for the tax cut?
That is correct. The “refund” is calculated as a percentage of your “earned” income. If you don’t work, you have no “earned” income. If you work and also collect Social Security, that amount appears to be deducted from your “refund.”
It appears to be written to specifically exclude many retirees.
Below is the text from the “Whitehouse” explanation of the conference provisions. Please forgive the OCR errors.
$400 Refundable Tax Credit
Conference Agreement (this all comes from the Division B explanation)
In general
The provision provides eligible individuals a refundable income tax credit for two years (taxable years beginning in 2009 and 2010).
The credit is the lesser of (1) 6.2 percent of an individual’s earned income or (2) $400 ($800 in the case of a joint return). For these purposes, the earned income definition is the same as for the earned income tax credit with two modifications. First, earned income for these purposes does not include net earnings from self-employment which are not taken into account in computing taxable income. Second, earned income for these purposes includes combat pay excluded from· gross income under section 112.
The credit is phased out at a rate of two percent of the eligible individual’s modified adjusted gross income above $75,000 ($150,000 in the case of a joint return). For these purposes an eligible individual’s modified adjusted gross income is the eligible individual’s adjusted gross income increased by any amount excluded from gross income under sections 911, 931, or 933. An eligible individual means any individual other than: (1) a nonresident alien; (2) an individual with respect to whom another individual may claim a dependency deduction for a taxable year beginning in a calendar year in which the eligible individual’s taxable year begins; and (3) an estate or trust.
Also, the conference agreement provides that the otherwise allowable making work pay credit allowed under the provision is reduced by the amount of any payment received by the taxpayer pursuant to the provisions of the bill providing economic recovery payments under the Veterans Administration, Railroad Retirement Board, and the Social Security Administration and a temporary refundable tax credit for certain government retirees. The conference agreement treats the failure to reduce the making work pay credit by the amount of such payments or credit, and the omission of the correct TIN, as clerical errors. This allows the IRS to assess any tax, resulting from such failure or omission without the requirement to send the taxpayer a notice of deficiency allowing the taxpayer the right to file a petition with the Tax Court.
The credit for certain government employees is available for 2009. The credit is $250 ($500 for a joint return where both spouses are eligible individuals). An eligible individual for these purposes is an individual: (1) who receives an amount as a pension or annuity for service performed in the employ of the United States or any State or any instrumentality thereof, which is not considered employment for purposes of Social Security taxes; and (2) who does not receive an economic recovery payment under the Veterans Administration, Railroad Retirement Board, or the Social Security Administration.
Each tax return on which this credit is claimed must include the social security number of the taxpayer (in the case of a joint return. the social security number of at least one spouse).
If it weren’t so tragic, it would be ludicrous seeing the Democrat sheeple run to their mail boxes looking for their “check in the mail”.
I tried and tried to find a picture of those democratic congress-critters holding up a muffler in protest of Bush’s tax cuts. Neither Yahoo nor Google was able to find it through several searches.
What cut? Where exactly does the POStimulus state a drop in marginal tax rates for people who PAY taxes?
I’m not talking credits, blah, blah, blah.
But real tangible decrease in RATES.
OK list em. My current favorites:
Chicago thug: Baracketeer Obama
Stimulus: B'roke Obama
End of the world: Baracalypse Obama
Buy ammo with these, OUR dollars...
LOTS OF IT!
I was just thinking this morning that it is ironic that those who enforce socialism are so anti-God in politics, and wondered how they would feel if they knew they were enforcing what was first an early church, Spirit-filled phenomenon.
You can’t get a pizza for $13 in NYC. One one family member can go to the movies and that does not include popcorn.
I was about to say the same thing. $13/wk is 20 rounds of 5.56mm and a double cheesburger and coke at McD’s.
Or it’s 50 rounds of 9mm.
Or 200 rounds of .22LR.
Or 10 rounds of 00 buckshot.
Or if you save it for 30 weeks, it’s a new 870.
Or if you save it for 4 weeks, its a brand-new Gadsden flag to hang outside your house!
"Look for your Obama Stimulus Plan Check in the mail during the first week of April, 2009. If you have not received your Obama Stimulus Plan Check by April 15th, call or visit the local office of (insert name, address, and phone number of Democrat Congressthief here) for assistance in claiming your Obama Stimulus Plan Check. To ensure fast service, please have available a copy of your birth certificate to validate your eligibility for your Obama Stimulus Plan Check."
Yes, I am a troublemaker...
Ditto.
This isn’t a tax cut, it’s a money give away. A tax cut would mean my take home paycheck would be bigger starting right now. Are there that many people in this country stupid enough to swallow this garbage about a tax cut?
That’s also the day California raises taxes tremendously, in 5 different ways.
I will be losing $1400/yr.
Since lots of Americans are Californians, Obama’s tax “cuts” are negated for many, many Americans.
“Or if you save it for 4 weeks, its a brand-new Gadsden flag to hang outside your house!”
I’ve found ‘em for 13 bucks!
http://patriotic-flags.com/colonial/betsy_ross.htm
My Navy Jack is on it’s way.
Since I already have LOTS of ammo (of course, I still NEED and WANT more), I like the Gadsden flag purchase idea.
To Hussein: DON'T TREAD ON ME BRO!
Yet ANOTHER reason for any self-respecting, intelligent, freedom-loving citizen NOT to live in that festering inner-city, Nanny/Police-State, left-wing hell-hole.
Are we suppose to believe the HMFNIC?
Go on wiff yo bad seff, mo-fo! :)
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