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English (R-PA) proposes change on taxing of unemployment benefits
Leader Times (Kittanning, PA) ^
| 2/4/03
| Michael Miller
Posted on 02/04/2003 1:17:40 PM PST by smokinleroy
Edited on 04/13/2004 2:02:46 AM PDT by Jim Robinson.
[history]
KITTANNING - People drawing unemployment benefits often get an unpleasant surprise this time of year: They owe hundreds of dollars in federal income taxes.
U.S. Rep. Phil English, R-3rd, wants to change that by proposing that unemployment compensation be exempt from income taxes.
(Excerpt) Read more at pittsburghlive.com ...
TOPICS: Business/Economy; News/Current Events; US: Pennsylvania
KEYWORDS: taxation; unemployment
The twisted logic of democrats.
To: smokinleroy
I don't like taxes but, as long as we have them, it is good IMO that people see clearly how much of a bite the IRS is taking out of their income.
2
posted on
02/04/2003 1:43:14 PM PST
by
expatpat
To: expatpat; smokinleroy
This tax and the tax on social security has always rubbed me the wrong way. Taxing unemployment security payments are like kicking sand in a downed persons face.
It hasn't always been this way. I may be incorrect, but I believe they statred taxing unemployment payments during the Carter,(D) administration. I know Clinton jacked the tax on S.S. during his first term. We need to change the code.
Comment #4 Removed by Moderator
To: smokinleroy
I've got a better idea, Rep. English:
Eliminate all withholding.
Make everyone start sending quarterly estimate checks to Washington. Let the sheeple feel what it's like to pay taxes to the government. Maybe then they'll get the idea that Washington needs to be accountable.
5
posted on
02/04/2003 2:05:17 PM PST
by
newgeezer
(A conservative who conserves -- a true capitalist!)
To: jojomatic
Yeah, I remember. In '82 or '83 if I recall.
To: smokinleroy
English said some Democrats in Congress have argued that cutting the tax on unemployment benefits helps the affulent more, since those who make more and become unemployed will be getting a larger benefit. I don't know what other states are like, but in NJ the maximum benefit is $440/wk for 22 weeks. That's $440 whether you lost a job making $40K or $140K.
I would love to hear the Dems make that "tax cuts for the wealthy" argument to unemployed white-collar workers. That's sure to be a winner.
7
posted on
02/04/2003 2:49:16 PM PST
by
Cable225
To: smokinleroy
Having drawn on unemployment a few times I am familiar with the drill. In California (I don't know about other states) the report form gives you an opportunity to have taxes taken out just like withholding. If one does this, there is no surprise at tax time. Those who are "surprised" are people who don't read what they are signing.
8
posted on
02/04/2003 2:55:11 PM PST
by
harrym
To: newgeezer
Eliminate all withholding.I'm with you!...as a matter of fact in my mind...ELIMINATE THE IRS!
Not too many years ago, when I found out my Mom's SS was being taxed, I just about went POSTAL....Double taxation in my mind...when will this BULL$HIT stop?!
FMCDH
9
posted on
02/04/2003 3:06:35 PM PST
by
nothingnew
(the pendulum always swings back and the socialists are now in the pit)
To: smokinleroy
Someone who received $5,000 in benefits would save $507 in taxes this year, according to Internal Revenue Service tax tables for 2002, while someone who received $10,000 would save $1,204 in taxes.
How is this figured? 507*2= $1014. Is there a gradation between 5k and 10k, or are they both based off of earned income but with the benefit tax figured in some roundabout way?
Honestly I'm surprised more "news" articles don't include figures comparing the tax break under [republican]'s plan of someone that earns, say, $250k to a $25k earner without any mention of a "progressive" tax system. It'd trick all of the idiots into thinking that a tax break actually would unfairly benefit the wealthy.
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