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Senator Orin Hatch and Minority Leader Mitch McConnell proposed raising taxes on working families by $11 billion to make room for tax cuts for the wealthy. The two main increases affect poor and moderate income families by eliminating the child tax credit and Earned Income Credit that combined, affect 22.9 million families in 2013 alone. McConnell has complained for weeks that the wealthiest one-percent are unduly punished, and that 98% of the population has to pick up the slack in the Republican version of shared sacrifice. At a time when an overwhelming majority of Americans believe the wealthy should pay higher taxes, Republicans are taking the opposite approach and burdening middle-America to help the 2%.
Originally posted by camaro68ss
its all smoke and light shows. you cant raise enough money to slow down the drunken spending binge. Its game over and its been game over for years now. there is no way to pay for all of this. Government needs to stop with the dog and pony shows. its over. 49% of america is in the "poor" Category. thats making 25k or less!!!!
There is no middle class, its poor and super rich. Middle class is just those people that have not maxed out there credit cards yet to make it look like there in the middle classedit on 30-7-2012 by camaro68ss because: (no reason given)
Originally posted by buster2010
By doing this they can force more people to go on government assistance. Then the GOP will cry that Obama is trying to make America a socialist country where the government has to take care of everyone.
The GOP is becoming more and more useless every time they open their mouths.
Originally posted by Indigo5
Share of National Income
(The Washington Post) - The Internal Revenue Service allowed undocumented workers to collect $4.2 billion in refundable tax credits last year, a new audit says, almost quadruple the sum five years ago.
Eye Opener
Although undocumented workers are not eligible for federal benefits, the report released Thursday by the Treasury Inspector General for Tax Administration concludes that federal law is ambiguous on whether these workers qualify for a tax break based on earned income called the additional child tax credit.
Taxpayers can claim this credit to reduce what they owe in taxes, often getting refunds from the government. The vagueness of federal law may have contributed to the $4.2 billion in credits, the report said.
The IRS said it lacks the authority to disallow the claims.
Sen. Orrin Hatch (R-Utah), ranking member of the Senate Finance Committee, On Friday announced plans to examine the refunds.
“The disconcerting findings in this report demand immediate attention and action from Congress and the Obama Administration,” Hatch said in a statement.. “With our debt standing at over $14.5 trillion and counting, it’s outrageous that the IRS is handing out refundable tax credits...to those who aren’t even eligible to work in this country.”
Wage earners who do not have Social Security numbers and are not authorized to work in the United States can use what the IRS calls individual taxpayer identification numbers. Often these result in fraudulent claims on tax returns, auditors found.
Their data showed that 72 percent of returns filed with taxpayer identification numbers claimed the child tax credit.
Originally posted by grey580
reply to post by beezzer
That is not another side to this story.
That's a loophole that needs to be closed.
My tax money, nor anyone's, should not be going to illegal aliens with no social security number.edit on 30-7-2012 by grey580 because: (no reason given)
Originally posted by beezzer
reply to post by grey580
Just the other side of the story. . .
(The Washington Post) - The Internal Revenue Service allowed undocumented workers
www.teaparty.org...
Originally posted by LDragonFire
reply to post by beezzer
With so many mega corporations who are not paying anything in taxes plus in many cases they are getting refunds, this is what your concerned with?
Some illeagal may be taking advantage of tax loopholes, so to fix it there going to raise taxes on the entire middle class and the poor?
Serious?
Originally posted by grey580
Originally posted by Indigo5
Share of National Income
They need a tax cut like they need a hole in the head.
That graphic is insane.