Tax cut or not.

[Rusty McNeil]

Quote from article on Obamas budget submittal.

"But the budget also cuts taxes for some taxpayers, most notably an expansion of the Earned Income Tax Credit for 13.5 million low-income Americans beginning in 2018"

Really?

The EITC is and always has been a give away program, call it what you want but if a taxpayer works, pays in a $1000 in federal tax, files his taxes and gets a refund of $4000, How is that a Refund or tax cut?

Redistribution of income always was on his agenda so none of this is a surprise.

.....another case off media bias to me tho that they so willingly swallow the bait and call this a "tax cut"....

Just like they say it "costs" the government money to do a tax cut......it wasn't their money in the first place. ...a tax cut is a "pay cut" for the government, not an expense or cost......

 

[tothemax93]

All the Government budget is, is a complete minipulation of tax money. They use wording in the loosest of definitions to make an average person believe it's something it's not. The average american's Idea of a budget is not even close to the Governments. Search baseline budgeting for a start.:bang head::bang head::bang head:

http://cagw.org/content/baseline-budgeting

http://online.wsj.com/news/articles/SB10001424127887323401904578157233680080150

 

[Tex85]

The government has not had a budget in years. Part of having a budget means that income vs expense ratio is 0, it has to balance. The hole keeps getting deeper, one of these days the whole damn country will fall into it.

 

[Traumahawk]

There is an interesting statistic that I heard several years ago. When the deficit was approaching 15 trillion dollars, at that time, 40 cents of every dollar paid back went to strictly interest. That is like having a credit card....with a 40% interest rate.

I wonder how much is being paid back now...in strictly interest, with the deficit at 17 trillion?