Free Republic

BEGIN TRANSCRIPT RUSH: Gail in Lakeside, Arizona, you're on Open Line Friday. Hi. CALLER: Hi, Rush. Thank you for all you do for us. RUSH: Thank you very much. CALLER: I wanted to share quickly what I found out when I had my taxes prepared last week. The man that prepared my taxes for me cautioned me to watch out for my tax cut. He said, and you may want to adjust your withholding to take that back away, because the tax rate tables for next year when preparing taxes are not changing. So I could possibly owe my tax...

During his recent address to Congress Obama said that people making under $250,000 wouldn’t pay a single penny in additional federal taxes. I called that statement Obama’s “read my lips” moment, and I’m right too. Obama is already planning a massive tax hike for all Americans, albeit an indirect one. It’s called “cap and trade.” In one of the budget’s most ambitious proposals, the president plans to cap the emissions of greenhouse gases, forcing polluters to purchase permits for emissions that would be slowly brought down to 14% below 2005 levels by 2020 and 83% below 2005 levels by 2050....

How can we best invest our $13 per week tax cut toward overthrowing the Obama regime? The Democrats have further plundered our treasury, and endagered our country and the futures of our children and grandchildren. To the cheaters and scammers and non-productive elements, they give pork, bailouts, welfare, and debt forgiveness. To those who work and pay their bills, they have tossed a $13 crumb. How can we take this crumb and make something of it - something that might lead to regime change? I'm throwing this question out to the smartest people I know - the Free Republic community.

WASHINGTON – The notoriously slow Congress passed the $787 billion economic stimulus package in a matter of weeks. President Barack Obama signed it into law less than one month into his presidency. So, just how soon will Americans start reaping the benefits of tax cuts in it? By April 1, according to the president. "Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans," Obama said Saturday in his weekly radio and Internet address.

President Barack Obama ordered the U.S. Treasury on Saturday to implement tax cuts for 95 percent of Americans, fulfilling a campaign pledge he hopes will help jolt the economy out of recession. The tax cuts are part of a $787 billion economic recovery plan passed by the Democratic-controlled Congress over Republican opposition.

Saturday, February 21st, 2009 at 5:00 am The quickest and broadest tax cut ever Two important takeaways from the President's Weekly Address this morning. #1, the American Recovery and Reinvestment Act will start having an impact as soon as a few weeks from now, in the form of the quickest and broadest tax cut in history: "Because of what we did, 95% of all working families will get a tax cut -- in keeping with a promise I made on the campaign. And I’m pleased to announce that this morning, the Treasury Department began directing employers to reduce the amount...

The notoriously slow Congress passed the $787 billion economic stimulus package in a matter of weeks. President Obama signed it into law less than one month into his presidency. So, just how soon will Americans start reaping the benefits of tax cuts in it? By April 1, according to the president. "Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans," Obama said Saturday in his weekly radio and Internet address. He said the Treasury Department has begun directing employers to reduce the amount of taxes withheld from people's paychecks in...

President Barack Obama ordered the U.S. Treasury on Saturday to implement tax cuts for 95 percent of Americans, fulfilling a campaign pledge he hopes will help jolt the economy out of recession. ...it is impossible to implement a tax cut for 95 percent of Americans, when over 40 percent of Americans have no income tax liability to begin with. Shouldn't a journalist question such a ludicrous claim, or at the very least, offer some context? One part of this so-called cut, transfers money from taxpayers and gives it to non-payers. That, conceivably, could be called tax relief for those who...

The Treasury Department has begun directing employers to reduce the amount of taxes withheld from people's paychecks. It's part of the economic stimulus package President Barack Obama signed into law this week. Treasury is directing employers to make the changes as soon as possible and no later than April 1. In his weekly radio and Internet message, Obama says the measure will mean a typical family will bring home at least $65 more every month. His ambitious $787 billion package of federal spending and tax cuts aims to revive the economy and save or create 3.5 million or more jobs....

WASHINGTON (Reuters) - President Barack Obama will allow tax breaks given to wealthier Americans under his predecessor, George W. Bush, to expire as scheduled rather than eliminate them sooner, an administration official said on Saturday. Obama, who promised during his White House campaign to roll back tax cuts on people earning more than $250,000, also plans to boost tax collections from about 16 percent of the economy this year to 19 percent in 2013, the official said, confirming a Washington Post report on Obama's budget proposals for the 2010 fiscal year.

(Rep. Michelle Bachmann) This might come as a surprise to you, but the United States is near the top of the list of industrialized countries with the highest corporate tax rates. You may be asking yourself “so what,” or “who cares,” but it’s important to recognize that lower corporate tax rates result in attracting more investment capital. A reduction of the federal corporate tax rate would increase firms’ productivity and investment incentives, and ultimately stimulate our nation’s long-term competitiveness by enhancing economic freedom. The end result would be a boon to your family budget. The trend for countries around...

Q: What are some of the tax breaks in the bill? A: It includes Obama's signature "Making Work Pay" tax credit for 95 percent of workers, though negotiators agreed to trim the credit to $400 a year instead of $500 — or $800 for married couples, cut from Obama's original proposal of $1,000. It would begin showing up in most workers' paychecks in June as an extra $13 a week in take-home pay, falling to about $8 a week next January. There is also a $70 billion, one-year fix for the alternative minimum tax. The fix would save some 20...

Senate Democratic leaders struck a deal late Friday with three moderate Republicans on a leaner economic-recovery package... Senators valued the compromise plan at $780 billion -- well less than the $930 billion plan the Senate debated most of the day... Not counted in that estimate are several popular tax breaks -- including measures to encourage auto and home sales -- that were approved this week on the Senate floor and are expected to be incorporated into the legislation. Those could push the final cost of the Senate plan closer to $820 billion... White House aides refused to call those cuts...

WASHINGTON -- The stimulus bill's tax breaks for individuals will put money in the hands of people likely to spend it quickly, proponents believe -- and fulfill a major campaign promise by President Barack Obama. One big question: How many of these largely temporary breaks will be allowed to expire in a year or two, and how many will survive and become permanent parts of the tax code?

Bowing to widespread Democratic skepticism, President-elect Barack Obama will drop his bid to include a business tax break he once touted in the economic stimulus bill now taking shape on Capitol Hill, aides said last night. Obama suggested the $3,000-per-job credit last week as one of five individual and business tax incentives aimed at winning Republican support. He proposed $300 billion in tax relief in a bill that could reach $775 billion, and he resurrected the jobs-credit proposal from the campaign trail as one of his main provisions. (snip) "We've always said we're open to other ideas. This was never...

Despite their political appeal, $500 per worker tax credits will do very little to actually boost the economy. We know that tax cuts are coming—the only question is what kind. Earlier this week, President-elect Barack Obama suggested that 40 percent (about $300 billion) of his proposed economic stimulus package should come in the form of a tax cut. At least half of that tax relief is expected to be aimed at helping middle- and low-income individuals. Obama advisers have begun outlining a “temporary” $500 per worker tax credit. Aside from being temporary, this Obama policy seems nearly identical to the...

House Financial Services Committee Chairman Barney Frank (D-Mass.) said Thursday that President-elect Obama’s stimulus plan spends too much money on tax cuts for his taste. Frank said on NPR’s “Marketplace Morning Report” that he believes the spending package Obama supports will be large enough to help the ailing economy but that he does not entirely agree with how the money will be used. “I have some difference because I think they may be doing too much tax-cutting and not enough direct spending from the standpoint of immediate job creation,” Frank said. However, the Democrat expressed confidence that economic recovery would...

Pelosi "urging" Obama to repeal Bush tax cuts House Speaker Nancy Pelosi tells Politico she's "urging" President-Elect Barack Obama to quickly repeal Bush administration tax cuts for the wealthy -- not wait for them to expire in 2010, as Obama has suggested he might do. "He has the full package of what he wants to do, and we'll respect what he is saying, but put me down as one who is urging repeal," said Pelosi, ducking into her Capitol office suite to watch Obama's dour speech on the economy. Pelosi supports Obama's push to include $300 billion in middle-class tax...

Obama unveils $1000 tax cut, energy efficiency plan Thu Jan 8, 2009 11:44am EST FAIRFAX, Virginia (Reuters) - President-elect Barack Obama said on Thursday he would offer working families a $1,000 tax cut and improve energy efficiency in millions of American homes in order to create jobs and stimulate the economy. "To get people spending again, 95 percent of working families will receive a $1,000 tax cut

It now looks like half of President-elect Barack Obama's stimulus package will take the form of "tax cuts" for 95 percent of all Americans. Yet this wouldn't boost the economy as much as trigger a massive, unhealthy shift in American politics. Under Obama's plan, the majority of American voters would pay no federal income taxes but would get money from the government instead. That is, these "refundable tax credits" are basically welfare checks — and Obama's plan would leave the most of us collecting, not paying. A $200 billion giveaway won't do much to get a $14 trillion economy rolling...