Comments on: House passes $146 billion stimulus

By: House Passes “Stimulus” Bill That Discourages Work | OpenMarket.org

Wed, 30 Jan 2008 18:24:12 +0000

[...] House has overwhelmingly voted to pass the “stimulus” bill I discussed earlier, which would increase the deficit, provide “rebates” that did [...]

By: alamedaman

alamedaman — Wed, 30 Jan 2008 00:00:33 +0000

Ron Paul said it best- the only thing both parties agree on is spending money

By: Matt Sanchez

Matt Sanchez — Tue, 29 Jan 2008 23:15:51 +0000

Stimulating the Economy, or Tantalizing the Voter?…

No one (to speak of) opposed the the $146 billion take rebate most voters will get sometime near the 2008 election, but doesn’t the Democrat acceptance of the premise that tax cuts stimulate the economy justify the measures taken to cut taxes by the c…

By: BlameAmericaLast

BlameAmericaLast — Tue, 29 Jan 2008 23:04:44 +0000

Yet another wealth redistribution scheme.

By: graysonret

graysonret — Tue, 29 Jan 2008 22:41:54 +0000

Azygos, you realize the American dream. Politicians and candidates want us to believe that we are victims and cannot have that dream. Therefore, we must punish you for achieving it. It shows how sick our society has become. I work hard too, and like my work. I pay my taxes, budget my money, have a savings/checking account, and “want” for really nothing. People who achieve this state, must have done it at the expense of others; therefore, we need to be punished. It’s the way of socialism.

By: DanMan

DanMan — Tue, 29 Jan 2008 22:39:36 +0000

I’m lost in the math. $146 billion cost divided by 111 million people = $1,315 average per taxpayer. I’m just guessing the average should be somewhere between the max and min so I’ll peg that at $900. If the average payout is $900 but the average cost is $1,315, we’re looking at somewhere around 50% for administrative fees and interest. That does not sound like a very good deal to me, but then again, I’m paying my own mortgage too so what do I know.

By: Azygos

Azygos — Tue, 29 Jan 2008 22:33:35 +0000

“(because I’m a “rich” taxpayer)” Yup, zip, nada, nothing, zero is coming my way also. Well not exactly, the government will steal the money from us to give to others.

I got into an ineffective argument with a liberal on another blog. He could just not understand that because I make a lot of money he was not entitled to it. I work from 6 AM to 9 PM, and for my labor I am penalized for it. Makes no sense. I’m ready to push the “reset” button.

nyc123me

Don’t forget the 15.3% above that taken out for the Ponzi scheme unsocial insecurity and FICA etc…

By: granite

granite — Tue, 29 Jan 2008 22:32:09 +0000

Umm…35-40% now; sorry…

By: granite

granite — Tue, 29 Jan 2008 22:31:14 +0000

#17 On January 29th, 2008 at 4:45 pm, nyc123me said:

“#15 You’re worried now? The top income bracket (fed) is currently ~35%. Back in the eighties that was 70%, then Reagan dropped it to 50% and it went down from there. That tax act expires in 2012, and the rate then defaults back up to 50% in that top bracket (or maybe it’s 70%). Just thought you should be aware. Currently the federal tax is pretty much the lowest it’s ever been for those high income brackets. People tend to forget that.”

During WWII, it was at 90%!

Nope, didn’t forget.
I remember when it was 70%, when it was dropped to 50%, and when it was dropped to 35% (supposedly to 28%-but, again, with the “phasing out” of certain goodies, effectively put up to 35%. May even effectively be at 39-40& now.)

The “indexing” for inflation – I also remember that from the 80s – is effectively a drop saved from the ocean of taxes owed.

People also tend to forget the erosion of purchasing power because of inflation.

My purchasing power now is easily less than that of my two folks 35-55 years ago.

And yet, my tax bracket is astronomically higher than theirs.

So, I have forgotten nothing.

I just think that the level of taxation is still too high.

I do not think the fedral government should be able to confiscate such a high percentage of taxpayers’ incomes – pure and simple.

By: graysonret

graysonret — Tue, 29 Jan 2008 22:23:19 +0000

Nyc123me…very good. Glad you posted that. Very true. Now, that I will probably get this “so called” rebate, I wonder how much it will cost me…in the end? Everything has a cost, how much will this cost be?

By: Go_Fish

Go_Fish — Tue, 29 Jan 2008 22:12:01 +0000

Stimulicious!

By: Alphonse

Alphonse — Tue, 29 Jan 2008 22:10:33 +0000

I want mine today. I’m in day labor and I’m used to getting paid daily. I wanna invest in China.

By: ackrite55

ackrite55 — Tue, 29 Jan 2008 21:55:43 +0000

Where is your patriotism? Buy an XBOX 360!!

By: gayle

gayle — Tue, 29 Jan 2008 21:55:07 +0000

I’ll just deduct that refund amount on the taxes I’ll have to pay for 2007 on my dividends/interest income.

I won’t get a check either, yet they get MY money and give it to those that pay nada.

Makes sense to me in this utopian country.

By: nyc123me

nyc123me — Tue, 29 Jan 2008 21:45:26 +0000

#15 You’re worried now? The top income bracket (fed) is currently ~35%. Back in the eighties that was 70%, then Reagan dropped it to 50% and it went down from there. That tax act expires in 2012, and the rate then defaults back up to 50% in that top bracket (or maybe it’s 70%). Just thought you should be aware. Currently the federal tax is pretty much the lowest it’s ever been for those high income brackets. People tend to forget that.