facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up

Sorry, no featured jobs currently.

- Advertisement -
 

« News Home

Rebate limits penalize those who work hard and succeed



Published: Tue, March 25, 2008 @ 12:00 a.m.

Rebate limits penalize those who work hard and succeed

EDITOR:

Responding to recent legislation, the Internal Revenue Service has just sent out notices concerning an “Economic Stimulus Payment.” The irrational thinking of the congress persons of these United States never ceases to amaze me. They are attempting to jump start the economy by sending $600 tax rebates to individuals who have an adjusted gross income (AGI) of less than $75,000 and $1,200 to couples who file jointly with an AGI less than $150,000. If one has worked hard to earn more than that latter level of AGI, one is afforded a smaller rebate which is inversely proportional to the AGI: the more one’s income, the less the rebate in spite of the fact that those who make more pay a higher tax. Ultimately the government accounting office has decided upon a maximum AGI beyond which one qualifies for no rebate at all.

I paid a bunch of taxes and thus do not qualify for a rebate under current rules. Furthermore, people will get a “rebate” that have not paid any taxes at all. In 2005 44 million wage earners paid no federal tax and that which was with held from their pay checks was returned in full. But that is not really the point of this letter. Need I define the word “rebate” to my inane house and senate representatives in Washington DC? A rebate is defined as “money paid back.” If I pay no money how do you give me a rebate? If I had been one that paid no tax you may call my forthcoming check a gift, a present, contribution, award, endowment, grant or a donation, but please do not insult my intelligence and patronize me by calling it a rebate. The other irrational point to all of this nonsense is that the (congress and President Bush) think it will stimulate the economy; it won’t. People whose income is so low that they pay no taxes and those who earn less than $75,000 are commonly massed out on their numerous credit cards, with items already purchased in the past economy and thus their rebate will simply go to pay off a portion of their debt. That will help the Visa, Discover and Master Card companies, but it will do nothing to stimulate the current economy.

If the government politicos had refunded some of the exorbitant taxes that they have confiscated from the top earners (The top 5% of earners in the populace, representing people with annual incomes over $145,000 paid 60% of all of the taxes received by the Federal government in 2005), that money would have either been spent, invested or saved so that someone else would spend the investment or savings by expanding more jobs. Congress persons need to take a course in basic economics. The president should have learned as much at Yale.

CHARLES H. McGOWEN, MD

Howland

Visions of a dream team

EDITOR:

The possibility of the Democrat Party’s vision of a “dream team” could be the glue that unites that party and the country into the future if:

Sen. Barack Obama is our next president and Hillary Clinton is our vice president.

Both pursue a somewhat similar path to solve the problems that both Democrats and Republicans created these past 20 years or so but for one difference, Change. And that job belongs to Obama.

Clinton cannot effect the change that the people want and need. She is embedded too long in the past and present politics of Washington, owes too much to both Democrats and Republicans to upset the entrenched political system. If she is sincere for any degree of change, not just solutions that come way too late, she can be the most active and helpful vice president in history to help guide this country into the future.

With Obama’s vision, long term insight and the hope he projects, and with the experience of Hillary’s knowledge of inside Washington politics together, for change, it is, indeed, a dream team.

LOUIS MAMULA

Lowellville


Comments

1Jadedpast(19 comments)posted 6 years, 6 months ago

Rebate Limit Penalizes Those Who Work Hard and Succeed

Mr. McGowen must think everyone that makes less than $75,000 is beneath him, doesn't work hard, and has their credit cards maxed out. I work hard and manage my credit well and make less than $75,000 per year. Sounds like an elitist attitude to me,and then complaining over $600. Would you like some wine with your cheese?
Here's my offer Doc, I'll exchange annual incomes with you and I'll send you my $600 rebate check so you won't feel penalized or slighted?

Suggest removal:

2cambel(1 comment)posted 6 years, 6 months ago

Rebate Limit Penalizes Those Who Work Hard and Succeed

The good Doc is correct about one thing, that to spur
the economy the qualifications for a rebate should have
been more carefully considered and include age in the
equation. Older and higher income people should be
eliminated as they mostly have what they want, and
tweens and teens even without jobs should have been added.

People with "maxed" out credit cards may pay off the bill
but the plastic most likely will get used again fast enough.

Now the argument that a rebate should only go to taxpayers
doesn't make sense. If you live in this country you pay
taxes everywhere you turn, not just income taxes. Fuel tax,
sales tax, taxes built into the price of everything
you buy and thousands more.

If you were to go fishing, you paid various taxes just
for the privilege to have and legally drive a car, fuel
taxes, tax on the beer, worms, fishing license, add more
if you go to a federal or state park.

Some people are luckier in life than others, intelligence,
looks, educational funding abilities, family encouragement,
physical abilities and so forth. I would say the good Doc
has at least two of those attributes that created the
ability to make such an income and should be grateful as
such, as he very well may be.

Personally, I'm short, ugly, stupid, and with my mom's
and my income combined it's tough to live on. I'm just
hoping I can stay in high school two more years, I'll
never be able to go to any college much less Yale where
I'm sure that in an economics class they may teach it
doesn't make sense to add to the national debt when
the value of your money is depressed compared to other
currencies. But what do I know?

Don't worry Doc, with these kind of policies were all
going to get it eventually.

Suggest removal:

3MzVirgoLuv(157 comments)posted 6 years, 6 months ago

Dear Doc,
I am responding to your whiny letter to the vindicator's editor: Sir, I have five kids: 18, 14, 12, 11, & 9. I have a college degree; I have been graduated for five years this month and yet can't get nothing but temp jobs; I am married to a great man with a college degree; I have a four bedroom house that's being rented (9years there); I have 3 dogs (found 2, one became a father with an outside dog), 1 1/2 minivans (one is on it's last leg but keep trying to keep it running) and no jobs between my husband and I. I have worked since 13 years old and my husband has been working since the same age with whatever employer will have us.

Now, let me ask you something, why is it that with two college degrees in the house, no illegal activity ever, tax payers (when we do have jobs) and children who are great students and great citizens can't get by in this town. You are complaining about some 600 bucks that you'll probably spend on suits or cigars or whatever it is you docs spend on (used to temp for the recently resigned Forum Health CEO so I know how doctors waste money on crap) and not worrying about the economic situation that others are going through. I followed what I was told in life and got no where, I do what I am supposed to as a citizen and because of my name or color of my skin I get looked over, I have never used credit cards because I believe if you don't have the money right then and there you don't need it but yet I am penalized by the laws because others have faultered on their payment(s), why is it that the cute little white girl fresh out of college had a job waiting for her and had no experience working that job get such and opportunity but I don't because I wouldn't fit in. Or tell me good doc, why is it that Ohio is the worst state to be in economically and we have people like you complaining about his rebate check. I am sitting here typing and crying with anger at the gull of some people and how it's people like you that get heard and because you contribute hefty amounts to your political party get the results. And this country wonders why some go postal and lose their minds. When you are at your wits end and your freezers end and there is no end to your constant struggle you feel you must do something dramatic. I have thought of going to Wastetington, D.C. and waiting for mr.bush to 'tell' him somethings, but: I just don't have the gas to go!!! Maybe I'll use my rebate check for the gas when it comes!!!!! Stop complaining and count your blessings.

Suggest removal:


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes | Pittsburgh International Airport