Are they going to shop at Home Depot, Macy's, and the local new car lot?
Are non tax paying Americans going to buy a home?
Someone please explain to me how Obama's "Making Work Pay" program will build the economy of America and American workers?
Shouldn't Obama focus on increasing the Middle and Upper classes purchasing power. They are the ones who buy the new cars, buy homes, and spend more discretionary income.
Answer by lifeasinoit at 3:17 PM on Feb. 2, 2009Credits: 28 Level 4
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Answer by Anonymous at 2:25 PM on Feb. 2, 2009
Answer by Anonymous at 2:29 PM on Feb. 2, 2009
The new credit is being touted as a tax cut, but in reality it is just more spending through the tax code. Moreover, since it is also "refundable," it would send money directly to low-income taxpayers who pay no income taxes. This Making Work Pay credit does nothing to create jobs.This kind of credit is actually a spending program because it directs money to a targeted group based on political considerations. The Making Work Pay credit will send money directly to millions of taxpayers who pay no income taxes at all. It is impossible to cut taxes for a taxpayer who pays no taxes. Thus, refunds to taxpayers who pay no income taxes cannot, by definition, be a tax cut. This is spending pure and simple, and it is misleading to pretend otherwise.
Op, this explains it pretty well.jmo
Answer by grlygrlz2 at 2:29 PM on Feb. 2, 2009Credits: 106530 Level 39
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