Hey, he's your Pres...

[**DONOTDELETE**]

Brought to you by your local Pointer-Out-Of-Things-You-Probably-Don't-Like-To-Think-About.

The tax rebate isn't a rebate on your 2001 taxes at all(if you bothered)...
http://www.rockymountainnews.com/drmn/business/article/0,1299,DRMN_4_754516,00.html

...rather, it's an early refund on 2002 taxes. Which means your 2002 refund (or debt) will be that much less (or greater). Hooray. Thanks B.

[DesertFox]

Jesus God. This is Trick Number 2 of the "rebate." The first was packing almost all the tax relief in the out years. Others on this board said they understood that from the start, but I didn't, and Rush Limbaugh didn't. Rush and I understood tax relief to start next year. A result of bitching about that was this here tax rebate which turns out not to be a rebate at all.

I'm beginning to suspect W's intentions, too.

[oracle]

<BLOCKQUOTE><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><HR>Originally posted by scarmig:
Brought to you by your local Pointer-Out-Of-Things-You-Probably-Don't-Like-To-Think-About.

The tax rebate isn't a rebate on your 2001 taxes at all(if you bothered)...
http://www.rockymountainnews.com/drmn/business/article/0,1299,DRMN_4_754516,00.html

...rather, it's an early refund on 2002 taxes. Which means your 2002 refund (or debt) will be that much less (or greater). Hooray. Thanks B.<HR></BLOCKQUOTE>

This is a load of bullshit.

It is a rebate on your 2001 taxes. You seem to think that you paid your 2001 taxes last April. WRONG! That was your 2000 tax return you filled out (and next year you'll do your 2001 return).

The rebate is a rebate on the taxes we've already paid. (The following numbers are based on a single taxpayer.) The taxcut created a new 10% bracket on the first $6000 retroactive to the beginning of the year. However, when taxes were withheld, they were withheld based on the existing 15% rate (since the 10% rate didn't exist at that time). As a result, 5% of the first $6000 (or $300 for those arithmetically challenged) of your income was withheld when it didn't need to be. Because of the taxcut, when you filled out your tax return next April, your refund would have been $300 more that it would have been without the taxcut. The rebate simply returns that money to you now instead of next year.

[**DONOTDELETE**]

<BLOCKQUOTE><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><HR>Originally posted by oracle:
This is a load of bullshit.

It is a rebate on your 2001 taxes. You seem to think that you paid your 2001 taxes last April. WRONG! That was your 2000 tax return you filled out (and next year you'll do your 2001 return).

The rebate is a rebate on the taxes we've already paid. (The following numbers are based on a single taxpayer.) The taxcut created a new 10% bracket on the first $6000 retroactive to the beginning of the year. However, when taxes were withheld, they were withheld based on the existing 15% rate (since the 10% rate didn't exist at that time). As a result, 5% of the first $6000 (or $300 for those arithmetically challenged) of your income was withheld when it didn't need to be. Because of the taxcut, when you filled out your tax return next April, your refund would have been $300 more that it would have been without the taxcut. The rebate simply returns that money to you now instead of next year.<HR></BLOCKQUOTE>

Why am I not surprised to see a Democrat lie? They simply can't stand tax cuts and will do anything to discredit them.

[oracle]

<BLOCKQUOTE><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><HR>Originally posted by DesertFox:

Jesus God. This is Trick Number 2 of the "rebate." The first was packing almost all the tax relief in the out years. Others on this board said they understood that from the start, but I didn't, and Rush Limbaugh didn't. Rush and I understood tax relief to start next year. A result of bitching about that was this here tax rebate which turns out not to be a rebate at all.

I'm beginning to suspect W's intentions, too.

<HR></BLOCKQUOTE>

Packing the majority of the tax relief into the out years was not some "trick," that's the way it was designed from day one.

Stop and think for a minute. The purpose of the taxcut was to return a significant portion of the projected $5trillion+ surplus to the people that it was coming from. Since the majority of that surplus doesn't appear until the latter years of the 10 year projection, it only makes sense that the taxcuts would phase in at the same time. If you tried to do it all upfront, you'd end up running a deficit again.

This tax rebate IS a rebate, not matter how many times the liberal scum lie about it.

[**DONOTDELETE**]

So EFFING what? We are still overtaxed so the congressional pigs can live in luxury and the welfare bums can live without working.

[Warlady]

That's true Wolf. Guess you could have had Algore and either no tax cut or a tax hike. images/icons/wink.gif

[**DONOTDELETE**]

Great comeback Warlady. The Dems hate tax cuts.. especially if they mean fiscal responsibility in government! Fiscal responsibility may mean cutting a few porkers! The Dems may even lose a vote or two. What would they do without their womb to the tomb voter base?

A little side issue - I heard on the news today William the Impeached had a low interest account with over $1,000,000 in it. Billy knows how to handle his money. Hahahaha! Poor Bill, he was born with a silver spoon up his A$$.

[**DONOTDELETE**]

That's cruel. That cool mil was probably his "found money" stash the ol' lady didn't know about. Now there will be hell to pay when (if) Hillary comes home! I noted with interest she did not appear at Bill's little party today, even though she is a Senator from that State.

[**DONOTDELETE**]

Interesting note! I wonder where Hill is? She probably has a hard time letting the white house out of her sight.

[Warlady]

Hillary a no show at the three hour Bill goes to Harlem ceremony????? HAHAHAHAHAHA

[**DONOTDELETE**]

"That's true Wolf. Guess you could have had Algore and either no tax cut or a tax hike." --Warlady

I'm not talking about Bush, Warlady. Believe it or not, I expect every asshole I elect to do his job, but that's beside the point. You know very well that we have more than enough assholes in congress who vote themselves huge payraises for sitting on their fat asses, dreaming up more ways to control the population, and formulating more land-grabbing schemes. If anything I'd say Bush has his hands full with idiots on both sides of the fence.

Pardon my language.

[Warlady]

You are so right Wolf.

[Warlady]

Sounds like it's an early rebate for the tax reduction to stimulate the economy but it wasn't part of Bush's original tax reform package.

[The_RANDy_Corporation]

um, duh. Let's review, shall we. If you get a big refund after you file your return, that means you gave the government a huge, tax-free loan that it is finally getting back to repaying you.

If you are getting your refund now, before you pay the tax on which the refund is based . . . get the picture. The IRS is your bitch!

Thank you President Bush.