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Ken Houghton

"what in God’s name is the White House thinking"

That Rahm did such a good job with his candidate in Chicago in 2006 that he'll get them through the election in Just as Good a Shape.

Rana

And that's assuming you even qualify for the credits...

For those of us making little enough that the standard deduction always exceeds any possible itemized deductions, additional tax credits are worth absolutely bupkis. And if you're on the edge, the time it takes to document your eligibility and to calculate the possible deductions, is frequently time better spent taking the standard deduction and earning some actual money.

actor212

Rana, tax credits would apply to everyone. They are not deductions in income but deductions of the tax rate, effectively.

If this is part of a larger package that we haven't been leaked (on) yet, I reserve judgement. I'll let you know THursday what I think.

KevinHayden

Clearly, there's plenty of jobs available in this country. The government needs people to kill hundreds of thousands of people in foreign countries that have never attacked us, people to torture and kill folks imprisoned without evidence they committed any crime, people to testify to Congress about the success of torture they didn't actually have any facts about, and people to hold elective office so they can vote no on everything a majority of Americans want.

Then there's banks that are hiring robbers to rob their depositors, credit card users, shareholders, and the US Treasury. The banks, along with Wall Street brokers, insurance companies and the Chamber of Commerce, also need more lobbyists to pay off elected officials with campaign contributions.

Plus there's the conservative media organizations that need young people to illegally wiretap Senators, there's jobs for homeless people mowing the lawns of thousands of foreclosed homes, and a huge need exists for medical personnel to care for 40 or 50 thousand military veterans of the war against the nation that didn't attack us.

People are just so squeamish about taking jobs without benefits, ethical restraints or legality. Picky, picky, picky.

The point remains: jobs abound. And of course, compensation is intermittent at the option and whims of the employers.

Rana

Actually, actor212, if the tax credits are what I heard they are (which could well be wrong) they are credits to be applied for particular purposes, such as elder care, student loans, medical expenses, etc. So no, they wouldn't be available to everyone.

In any case, even if they are globally applied to wage earners, they still fall short for those of us who make little (getting back 5% of your income is real money if you make $100,000 a year, not so much if you make $10,000 or less).

And that says nothing about the people who aren't able to work, and thus have no income to be taxed in the first place.

So, again, no, they wouldn't apply to everyone.

actor212

Rana, I meant the tax cuts we got in 2009. My error.

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