Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Anonymous
Anonymous asked in Politics & GovernmentPolitics · 1 decade ago

How do you cut taxes for 95% of wage earners when 45% of wage earners don't pay taxes in the first place?

Update:

Matthew: Perhaps you don't understand what I'm referring to. Read and review the links I provided. You get a refund or you pay more based on where you fall in the spectrum at the end of the year.

Update 2:

So truth seeker - if 45% of those people don't have to pay in the first place, and they get another break, they get more money than they paid out in the first place, right? Sounds like wealth redistribution to me - like the EIC currently is.

Update 3:

Globe - that's not what Obama said. He said 95% of wage earners - not 95% of tax payers.

Update 4:

Whimsey - so based on your definition, since 65% of wage earners actually pay taxes, only 55% will see a tax break under Obama? That's not what he is saying. He is saying 95% of wage earners will see breaks.

Update 5:

95% of Americans v. 95% of wage earners is just symantics since it is reasonable and logical to assume that Obama is referring to people who actually work and earn wages. My minor children certainly don't submit a 1040.

22 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    It's called a Government Handout. You redistribute the wealth from the rich to the poor. Obama's plan to build the economy from the bottom up. Like the mortgage industry has proved that works so well, give the poor a house and they will get it foreclosed on.

  • 1 decade ago

    I've used my response in the past but it answers your question honestly.

    It is socialism and anyone who argues that it isn't, is daft:

    Let's put this nonsense about tax cuts for 95% of Americans to rest. The bottom 50% of income earners don't even pay income taxes, so how is Our Savior going to give them a tax break? What Obama is really talking about is tax credits. Here's how his plan will work. He'll come up with some fancy new tax credit to reward his minions for some type of acceptable behavior – like voting Democrat. Let's say the tax credit is $2000. But ... these people don't owe any taxes! So what good is a tax credit to them? Well, this is a new type of credit called a "refundable" tax credit. If you're eligible for the $2000 credit, and you don't owe any income taxes, you just get a check form the federal government for $2000. Just a very simple wealth redistribution plan. Remember, Obama and the Democrats think that wealth in the United States is not earned, it's distributed. It's the government's job to re-work that distribution to make it more "fair."

  • joebob
    Lv 5
    1 decade ago

    Since most of the intelligent answers are from republicans to begin with I posit that they just don't get it.

    They are not accepting of the whole "Obama Experience".

    They are completely discounting "hope" and "change" which are the building blocks for the Obama plan. First he's gonna "change" things

    to make sure that noone is in the top 5% of taxpayers. Then he's gonna "hope" that punishing those rich people makes the rest so happy they'll just line up to give money to the government.

    In reality the way he'll get around "tax" increases he will simply make another s.s. type program that will be called an "Investment" or "program" (Future Health and Security Investment Program) to get around the word "tax". Everyone that makes a paycheck will pay it. How else will he pay for UHC and prop up SS?

  • 1 decade ago

    I live in a small town in Texas, and there is a family here that works their *** off for their welfare checks! They found out that if you have four family's living under one roof you can claim them all as a dependent as the head of house. Also if you literally have 15 and I repeat 15 kids you get extra money for each one. Three died from freezing to death, but hey they have 12 more. Maybe I'm a bad guy but I kinda think this is horribly wrong, but hey they got a new truck out the deal. The point of this story is the next time you send a check to the IRS just know what your money is being used for. We need to reform welfare and that would reduce taxes, maybe I should run for President. This family is getting around 3500 a month for all the kids and the other families. I'm all for helping people who can't afford to live, but I have a serious problem supporting someone who is too lazy to work. Like I said maybe I'm a bad guy.

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    Exactly. Sort of like how his health coverage plan will cover "everyone." If there are ~47 million without health coverage, then there are ~258 million with coverage. But he'll take credit for those already with coverage.

    And Matthew, while taxes are withheld from wage earners' paychecks, when low-income people file their taxes, guess what, they get all or most of that refunded to them. So they aren't really "paying" taxes.

  • Rachy
    Lv 6
    1 decade ago

    Basic wealth re-distribution. How 95% of people can receive a tax cut and we will be able to afford this bailout, institute socialized medicine, and increase welfare benefits is beyond me.

    If Obama gets in it will be Clinton #2. Clinton promised to keep taxes the same or cut them. Less than one month into office he realized his plans needed funding and he raised taxes. Lie to get into the white house is what it's all about. Convince the people they'll be better off with you as president to change America... and have no plan with how that is going to happen.

  • ?
    Lv 5
    1 decade ago

    Lets say there are 45 million taxable wage earners out of the 300 million citizens.

    45,000,000 * 95%= 42,750,000 would get a tax deduction the other 257,250,000 would not. That is what is so great about misdirection!

    100,000,000 * 95% = 95,000,000 would and 205,000,000 would not!

  • This is nothing more than the redistribution of wealth in the form of kool-Aid. Who's drinking? Not me.

  • 1 decade ago

    Its all done with smoke and mirrors. Its refreshing to see someone ask an intelligent question. Good going.

  • ?
    Lv 7
    1 decade ago

    Obama needs to be asked about the AMT. Also, the EIC.

Still have questions? Get your answers by asking now.