How Will You Spend Your Tax Rebate?

[rusty river]

It might be too late to try to reclaim lost revenue from corporations outsourcing. They've become far too powerful and I'm not sure any amount of legislation would be suffice in collecting additional revenue. These monsters are only concerned with short term profit maximization to appease their shareholders and will do anything to achieve this. Shameful in my opinion

[AllanY2525]

The percentage of the government's revenue coming from corporate taxes has dwindled. ( 23% in 1960 to 14% in 2004) The reason for this is that there are perfectly legal ways corporations can "evade" taxes levied against them. Raising corporate tax rates will do little to nothing, and will even work to push them out of the US altogether.

I understand what you are saying with regard to the "legal ways" to avoid paying corporate taxes...lots of companies incorporate
themselves in states like Delaware - because of the tax advantages in that state.  Lots of others incorporate themselves in
places outside the USA - like the Caymen Islands, for example.

If all of the good jobs are going overseas - along with the incomes and taxes generated by those jobs - then our government
has probably lost the lion's share of tax revenues that were coming from these companies already.  There has to be some kind
of way to get some tax revenues [specifically] from those jobs that have left the USA due to out-sourcing.  I wasn't proposing that
we raise the corporate taxes, but rather that the incomes of those who have taken jobs away from working Americans.

Maybe this isn't do-able, I don't  know and I don't claim to be an expert on the economy - it was just an idea.  Consider it
my $0.02 - whatever that is worth at today's prices.....

[Towntalk]

I do earn my own money  ... I just don't like being bribed for my vote.

By the way, on my web site is the House version of the Tax Rebate bill.

http://farrell-report.tripod.com

Further, I do know the difference between a tax rebate and welfare handouts. Every single penny that the government has came out of our pockets. If it wasn't for us, Uncle Sam wouldn't have a pot to do his business in. I didn't ask Washington to get itself into such a mess that it has all but destroyed our economy, by making it easy for companies out of the country, by pouring out our hard earned money on illegal aliens, by spending billions of borrowed money on a senseless war, and by all the wasteful pork.

[Rick Rowlands]

Oh Towntalk, you are the poster child for the lack of economic education in this country. 

You said: 
As far as I'm concerned the money spent on rebates should be applied to the national debt and NOT sent out to folks who really don't need or deserve it.

Uh, this is a tax rebate, which means simply that they are giving back some of the money that they took away.  You must be of the class envy crowd who judges which people needs or deserves to have more of their own money.  Well who are you to make that decision?  NEVER turn down an opportunity to get back some of your own money that the govt. had taken from you by force.

You wrote:
What would I spend mine on? I would send it right back and tell them to shove it where the sun doesn't reach. I didn't earn it by the sweat of my brow so as far as I'm concerned it constitutes a bribe for my vote.

You didn't earn it?  You must live off of welfare then.  If you knew what a tax rebate was then you would know that this money was indeed made by the sweat of your brow but then the government took it away from you.

I'm tired of explaining the simplest concepts to people who should know better.  The dumbing down of America claims another victim.

[rusty river]

Congress should pass some new legislation TAXING these out-sourced jobs via their IN-country
corporate employers - it would help to restore our tax base and start paying off the HUGE
defecit President Bush has run up over the past 8 years - especially in the years since "the war"
started.

The percentage of the government's revenue coming from corporate taxes has dwindled. ( 23% in 1960 to 14% in 2004) The reason for this is that there are perfectly legal ways corporations can "evade" taxes levied against them. Raising corporate tax rates will do little to nothing, and will even work to push them out of the US altogether.

[AllanY2525]

I agree that the tax cut (or break, whatever you wanna call it) is a total crock of sh#t and nothing more
than a sad, late-in-the-campaign ploy being used by both parties to attempt to buy our presidential
votes (but then, I refuse to cast my vote in a pres. election until an amendment is passed to abolish
the Electoral College...).  Let them corrupt and bribe the Electoral Delegates - hell, there's only
300 or so of them - and it is THEY, after all, who actually elect the next President of the United
States - not WE, the people.  It would be much cheaper (and certainly more expedient)
to buy the votes of this small body of people...............

As far as the dwindling Social Security fund goes, how about this: bring our toops home
from Iraq, Afghanistan, etc - and take the (how many million?!? ) a day being spent on
"the war" and put it into the Social Security chest - and then put a PADLOCK on it so that
the funds CANNOT be used for anything else - PERIOD.  Hell, they would probably
have enough money to even RAISE Social Security benefits for those who are already
collecting these benifits.

The whole issue of Social Security is a sore spot with me folks, so I apologize for ranting in my
post today.......  I started my own business from the ground up in 2005 - and even if Social
Securty is still SOLVENT when I retire,  I won't get much in the way of benefits since I am
now "self-employed".

Imagine what they could do with the whole Health Care crisis with the money they are
spending on "the war".....or our ailing Public Schools system, etc.

Our government is shooting itself in BOTH feet with the out-sourcing of good, TAX paying jobs
to foreign countries - India, Mexico, Philippines, Malaysia, Korea, etc.  My $80,000 per year plus
salary (of SEVENTEEN YEARS on the same job) went to India in 2004 - along with 1,000 or so
of my co-workers - along with ALL of the Income Tax, Social Security deductions, etc.  The
Income Tax is literally the set of LEGS upon which the government stands...and our own
government is allowing the proverbial rug to be pulled right from under it.

Now, some college kid in Bangalore is writing the same computer code I used to write in
Virgina - for about $20-25,000 a year, NO benefits, and NO TAX contributions to the
United States (no workman's comp, no Social Security contributions, etc..)

Congress should pass some new legislation TAXING these out-sourced jobs via their IN-country
corporate employers - it would help to restore our tax base and start paying off the HUGE
defecit President Bush has run up over the past 8 years - especially in the years since "the war"
started.


::::::::::::::::::::::Stepping down off my big, creaky, old wooden soap-box now:::::::::::::::::::::::::::::

[Towntalk]

Talk about confuston ... the report this morning says that a deal has been reached on tax rebates ... the White House says the very opposite ... who is telling the truth?

http://www.breitbart.com/article.php?id=D8UCAOTO0&show_article=1

NOTE: This deal is ONLY on the House side, the Senate has its own plan so don't expect your check any time soon.

[connie254]

You have to remember that it will come out next year's tax refund, if you're entitled to one. Basically a free "loan" on next year.  I agree, nothing but to buy votes for those currently in office, or their party in  November. I hope I and many others can see that.
The low income people will probably spend it on things that they don't need, and continue to struggle to pay everyday bills. This administration did it before and didn't do much good.

[Towntalk]

Lets get back to the question of where the money will come from to pass out tax rebates.

Among other ways is the talk about cutting Social Security benefits. That's fine ... that's great ... make the poor even poorer. What does the average Social Security recepiant receive per month, under $1000?

So we take say 10% from them a month perminantly to give them a single $1600 rebate ... how is that going to help them? How short sighted can we get?

We all know that this country is so deeply in debt that we will never be able to get back in the black in ten lifetimes, we're losing jobs at an alarming rate ... jobs that generate taxes ... people are losing their homes to foreclosures at an alarming rate all over the country ... good paying jobs are leaving this country, and don't even factor in the health care crisis.

It makes absolutely no sense that we could even think that a single tax rebate could solve all these problems.

[Towntalk]

What kind of alternative energy devices other than light bulbs could we get for what the rebate would be? Since this will be a on time deal, and would not be all that much to begin with, there is precious little available other than say insulation, cauking, window strips etc. that we could buy with it. Certainly solar panels are out of the question.

http://money.cnn.com/2008/01/18/news/economy/rebate_how_it_works/?postversion=2008011913

[irishbobcat]

I agree , Jay. And if we could become an alternative energy manufacturing valley, the prices for such items would fall as fast as the current prices due for cell phones, IPODS, etc..........

We need jobs and decent incomes to kick start this valley, not another Bush tax-cut....that will be swallowed up by township and other levies within the next 6 years?

Dennis Spisak

Indepedendent Green Party Candidate-State Rep for 60th district

http://votespisak.tripod.com

[jay]

Some of us should invest in alternative energy devices for our homes.

[Towntalk]

If you are referring to a federal tax rebate, as far as I know, it still hasn't been decided who will get it, but don't hold your breath, there will be thousands of folks who will not qualify such as retired folks who only get Social Security and don't pay taxes.

As far as I'm concerned the money spent on rebates should be applied to the national debt and NOT sent out to folks who really don't need or deserve it.

Why is this coming up now? It's very simple, it gives worthless, good for nothing politicians up for reelection something to brag about.

This country is so badly in debt that your great-great grandchildren will be strapped for it, but then there's a whole lot of people who couldn't care less about anyone other than themselves, and couldn't care less about their children or grandchildren.

What would I spend mine on? I would send it right back and tell them to shove it where the sun doesn't reach. I didn't earn it by the sweat of my brow so as far as I'm concerned it constitutes a bribe for my vote. If a politician feels that he has to bribe me for my vote, he's going to have to do more than send me a few bucks, MUCH MORE!

As far as I'm concerned ALL politicians are nothing more nor less than common street walkers, and I can throw the Home Savings and Loan building further than I would trust them, and I make absolutely no exception. Wasn't it Jim Traficant, on the floor of the House of Representatives that called his fellow Congressmen prostitutes? He was a crook, but at least he was an honest crook.

The money that we owe China alone should be sufficient to throw the tax rebate scheme in the nearest incinerator.

Does anyone here seriously think that tax rebates are the allmighty cure-all for our economy. If you do, I have a suitcase full of Confederate money I'll sell you.

[irishbobcat]

Spending it on my race for State Representative for the 60th District

Dennis Spisak

Independent Ohio Green Party Candidate for 60th District

campaign site:  http://votespisak.tripod.com

[jay]

Economy - Economy - Economy

How do you intend to spend your tax rebate?