no robert, not if it offsets the payroll tax you don't. Earned Income Credit works the same way. No earned income, no credit.
On Sun, Sep 7, 2008 at 8:15 PM, Robert Munn <[EMAIL PROTECTED]> wrote: > On Sun, Sep 7, 2008 at 6:05 AM, Dana wrote: >> http://obama.3cdn.net/b7be3b7cd08e587dca_v852mv8ja.pdf > >> So, offhand, I see that Robert's Puritan concern that someone who >> isn't working will get $1000 is ill-founded, as the $1000 is a rebate >> of the payroll tax. This is a good thing in my opinion; very-low-wage >> workers like kids who work in fast food currently pay proportionately >> more tax than the richest Americans. This also means that if you have >> no income you get nothing. > > Puritan, that's funny, I'll have to save that one for later. > > If you have income and otherwise pay no taxes, you will still get that > check. If you want to look at it from a policy perspective, what Obama > is proposing is to shift the burden for Social Security and Medicare > to the top tier of taxpayers by giving both a "rebate" to the people > in the bottom tier and making the income above $250K subject to the > payroll tax for people at the top. What that does is create a huge > disincentive for people to make more than $250K in income. That's > important, because it invites people to cheat to stay below the > threshold, since we are, in effect, going to saddle them with an > additional 11.5% in taxes on that income. > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;203748912;27390454;j Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:268322 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
