Andreas Saldivar said:
President Obama's recovery plan has some redistribution of wealth in. As promised he is taking money from tax payers and giving it to non tax payers.
This is from an article on MSNBC
The plan being considered Thursday by the tax-writing Ways and Means Committee also would provide a temporary $2,500 tax credit to help pay for college. It would boost the earned income tax credit for low-income workers and permit them to receive the entire $1,000 per child tax credit as a refund in 2009-10 if they make as little as $8,500 a year and wouldn’t otherwise qualify.
Here's the link to the entire article.
http://www.msnbc.msn.com/id/28796708/
Andreas
I think you need to read the article a litte more carefully.
I can't find anything on the mechanics of the proposed education tax credit, but I do know that we already have education tax credits of up to $1800, (or less, depending on your adjusted gross income) in place, which are further reduced if you owe less than that in taxes. This is hardly a giveaway. This is not redistributing wealth, it is making it a wee bit easier for working stiffs like me to get our kids through college. So Obama wants to extend it to $2500? Good. Let's make it easier to get people educated, and hopefully into better jobs where they can also contribute.
He wants to increase the EIC? Again, good. Have you ever had to raise a child on $8500 a year? I have. And even though that was back in 1980, with 1980 rents and food prices, it was damn near impossible without accepting the help of WIC and other "giveaways". And I was working full time.
The earned income tax credit has already existed for quite some time now. How is this Obama's fault, please?
From the same article, "The tax cuts that won committee approval included a $500 credit for workers making up to $75,000 per year. Couples with incomes up to $150,000 a year would receive a $1,000 credit. Individuals with incomes up to $100,000 and couples earning up to $200,000 would qualify for lesser tax breaks."
Sounds like less taxes for working people to me. Isn't that what the libertarians on this board have been crying about - wanting the government to take less of people's money?