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Hey! Did the Republicans come up with a good idea?

One of the tax cuts recommended by Republicans (but not included so far in the legislation) would eliminate income tax on unemployment benefits for the next 5 years. I think this is a SPLENDID idea! What do you think?

http://www.irs.gov/taxtopics/tc418.html

Update:

celebrate--You're incorrect; all unemployment benefits are taxable by the IRS and this is a real burden for millions of people.

In fact, I sent an email to my senators and representative asking them to support this issue and I invite all of you to do the same: http://www.usa.gov/Contact/Elected.shtml

7 Answers

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  • debijs
    Lv 7
    1 decade ago
    Favorite Answer

    ~~I am surprised a republican actually thought of this :) I think it is the only fair thing to do. It's ridiculous to tax something which in essence you have already paid taxes on!~~

  • Power
    Lv 7
    1 decade ago

    People only pay taxes if they make up to a certain amount so most people are not going to pay this tax anyway. So while it appears to be a good idea it doesn't help anyone but the people making over a certain income. I am not sure what that amount is but it will definitely not make a difference to anyone who makes over $18.000 a year in unemployment plus whatever they made. So again it is only for the high income people. Many people are already getting tax cuts so sorry I don;t know the amount but this might help people who make over $200.000 a year.

  • rosco
    Lv 6
    1 decade ago

    Hi,That must have been a mistake on their part. They usually

    do not give the working class citizen a break on anything.This bunch in congress are part of the problem and they are still in Congress working hard against the President.There are only 3 that have some compassion for

    the citizens of this country. They have no idea what is going on in this country.Till you change Congress you will have this Group fighting everything all the way.

    Source(s): It seems they want the President to fail just out of spit ,for their party.
  • 1 decade ago

    Great idea, and also if they could increase the home mortgage deduction, so all homeowners with a mortgage benefit that would help

  • Anonymous
    1 decade ago

    I like it, a good idea. I think they should make child support tax deductible also, maybe more men would pay it if they could deduct it.

  • 1 decade ago

    NEVER going to happen under the 'Bama regime! Remember the 'transperency' promised durning the campaign? Forget about it!!! Unless you can see clearly on how we are all getting screwed over yet again!

  • Anonymous
    1 decade ago

    yeah,but obama is hell bent on taxing it to.

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