Daschle floats option to Bush plan - income tax cuts of $300 a person, aid to states, jobless

Associated Press ^ | January 25, 2003 | Associated Press Staff

[MeekOneGOP]

A plan any socialist might like?...

Mr. Daschle proposed a tax cut of $300 per adult and an additional $300 per child, up to two children per family. Adults would qualify even if they have no federal tax liability, as long as they pay Social Security and Medicare payroll taxes.

[RJCogburn]

It is a good thing to propose tax cuts. The more the better.

Of course, FICA and Medicare taxes of 7.65% is a federal tax liability. And.....we pay a tax on that 7.65% we never even get. Good, Tom....cut, cut, cut. Don't stop, though.

[b4its2late]

Mr. Daschle proposed a tax cut of $300 per adult and an additional $300 per child, up to two children per family. Adults would qualify even if they have no federal tax liability, as long as they pay Social Security and Medicare payroll taxes.

Screw him.

[onedoug]

Socialist has-been.

[The Wizard]

bush-lite....not filling, tastes like crap

[Constitutional Patriot]

Does he think everyone is as stupid as his shrinking constituency? He is not proposing a tax cut, he is proposing a federal handout. The fact that he refuses to recognize the difference speaks volumes about his (and his party's) socialistic ideology.

Keep talking Tommy. Keep talking.

[BlessedBeGod]

Don't low income earners get at least a part of their SSI refunded through the Earned Income Tax Credit on the Federal income tax form?

[irish_lad]

Daschle's plan does have some good elements. First, many states are in dire financial shape. We can all say, "screw them" because the legislators in those states increased spending bills when times were good, but the fact remains that California is facing a $35 billion shortfall, and $10 billion in Texas. Nebraska, my state, is facing a $650 million shortfall over 2 years.

So what happens if we don't help them? Education takes the big hit. Sure, I think that college tuition should be raised to offset some of the increase and I also think that states must cut spending in areas and raise their taxes. Cuts for the disabled and elderly should be off limits. I believe that before the Feds give any money to any state, that the state has a spending plan that must be approved and monitored to ensure deficits don't happen again.

That said, Daschle's tax cut is pitiful. I like Bush's plan except for the dividend proposal. Many dividends are currently not taxed because of the stocks invested in deferred retirement plans. The middle and middle-upper income brackets do not benefit as much from this proposal.

If Congress wants to help grow the economy, cut the marginal rates by 1.5 basis points, increase the personal exemption by $500 per person, and implement a tax credit for new job creation for corporations of $5,000 per 10% increase in job growth and $100,000 of new wages from the prior year. I would also consider an investment tax credit for certain equipment purchased by companies, as was done between 1975 and 1986.

The Federal Reserve has done all it can through monetary policy. We must now get more aggessive in fiscal policy to pull the economy out. Deficits will rise, but as unemployment decreases and payroll tax revenues increase, we can mitigate the deficit growth.

[Piquaboy]

Who is Tom Dasshole and when did he become president so he could propose any thing?

[Bill Davis FR]

Adults would qualify even if they have no federal tax liability, as long as they pay Social Security and Medicare payroll taxes.

DASCHLE LEAVES OUT RETIREES...NO REFUND FOR THE OLD FOLKS...LOL

[timydnuc]

The first two words of the headline..."Dashle floats"....so does a turd!

[Jorge]

Daschle is pathetic.
He's the one crying that Bush's tax cuts are "give aways" that are to blame for the bad economy and Federal deficit...yet here he is proposing his own brand of the same "give aways".
This man's hypocrisy astounds me.

[NonValueAdded]

I have a real problem with all these Federal solutions to state troubles. I'm tired of watching a net outflow of dollars from well run states to the states that mismanaged themselves into a crisis.

For example, look at the recent extension of jobless benefits from the federal trough. No strings attached so if a state like New York (D- Hilebeast and Schumer, AlGore 60%) is hostile to business and is driving out jobs, those of us living elsewhere get to subsidize the poor saps who don't have a paryer of finding a job locally. In other words, New York gets a free ride at our expense, doesn't feel the full pain of their horrendous choices at the ballot box, and does nothing to remedy the situation except stick the hand out for more.

California (D notsoFeinstein and Boxer, AlGore 53.5%) is just another example of a multiyear feeding frenzy, complete hostility to business and achievment, and now looking for money from the rest of us.

Take a look at this and guess where the money will go if the RATs have their way!

[magua]

be patient, I sense another muffler coming our way.What a country

[ClearCase_guy]

When Bush "gave" everyone a tax cut of $600 didn't the Democrats say it was a joke? $600? What good was that?? It wasn't going to help needy families!!

And now Daschle proposes a $300 tax cut? Sheesh! Only stupid people support the Democrats.

[GailA]

Why should I want another ONE TIME muffler when I can have a "real" tax relief that keeps giving year after year.

[Conservative Kay]

I saw the very end of this and he was explaining estate tax. He said : Let's say we tell you you can live here,make (or have,I don't remember) all the money you want, to do anything you want with as long as you give back what you don't use when you die. That was how he explained estate tax as if the money that you earn actually belongs to the goverment, is just a loan to be paid back upon death. This is such a good example of the democrats thinking.

[Howlin]

So Mr. Daschle NOW wants me to have that muffler, eh?

[Howlin]

Fred Barnes said last night that the studies done on the last "rebate" showed that most people SAVED it and did NOT spend it, so it was not a stimulus at all.

[Amelia]

The part that bugs me is that under Daschle's plan, you get a rebate even if you don't pay taxes...just take a little MORE of my money & give it to someone else?