To: Technogeeb
A quick look at 2717 seems to make your argument vanish and may be better wording than 2525...consumption rebate is the lesser of tax rate times poverty level or time actual income, thus if poverty level is raised to $150,000 but income is $10,000 rebate is based on income not poverty level...
SEC. 13. FAMILY CONSUMPTION REFUND.
`(a) GENERAL RULE- Each qualified family unit (as defined in subsection (b)) shall be eligible to receive a sales tax rebate in an amount no greater than the product of--
`(1) the rate of tax imposed by section 1, and
`(2) the lesser of--
`(A) the poverty level (as defined in subsection (c)), or
`(B) the wage income of the family unit,
in the manner prescribed and subject to the limitations set forth by this section.
To: rolling_stone
A quick look at 2717 seems to make your argument vanish and may be better wording than 2525...consumption rebate is the lesser of tax rate times poverty level or time actual income, thus if poverty level is raised to $150,000 but income is $10,000 rebate is based on income not poverty level...
That does seem to solve my major complaint. I'll take a look at the text of that bill.
To: rolling_stone
How will the gov't know what anyone's income is?
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson