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Thursday, April 16, 2015

Economic Education

So in the aftermath of National Beat the Clock Day {remember all tax forms, including extension papers, had to be postmarked BEFORE midnight last night} we have this bit hitting the 6pm CT news:

I don't think the WSJ or any conservative news have had any problem with what we've done on the Pro-Growth side of this debate.  I think it all comes down to the Child-Tax Credit - and I would say two things about that:
If we illuminated this additional Child Tax Credit the most you would get maybe - MAYBE - 2% reduction of tax in the top break.
Our argument is, and it's the one that Sen. lee makes, and it's that this is NOT redistribution because this money does not belong to the government in the first place.  I'm a huge proponent of everything that President Reagan did, and I think he was a historic figure and quite frankly, my favorite President of the 20th century.  I think we also need to recognize that the 21st century has some pretty significant differences from the which the era which he governered.  Tax rates are different, globalization is real, and we need to stay globally competitive"
Sen. Marco Rubio
R-FL
Presidential Cadidate, Republican side

Here's his tax plan:

@ Cut top tax rate for corporations from 38% to 25%
@  Eliminate taxes on Cpatital Gains, Divvidends, and Inheritanred Estates.
@ Reduce tax brackets from seven to Two. 35% and 15% for inddividuals and families.
@ new tax credit up to $2500 per child

"With the proposeal, senator Rubio makes himself the party's most visible ally of the "New" Republican idea that the Reagan Tax'Cutting agenda is a political dead end.   and that the party mow must redistriute revejue directly to middle'class families.  It's not clear how candidate Rubio woulf hope to win a tax'credit bidding war with Hillary Clinton., who'd see and raise on the size of the credit and make it refundable to mom'taxpayers.  the Rubio tax credit looks like an obvious political gambit with no economic growth payoff."
Wall Street Journal

First off -- when we st8ll had 4 children on our tax forms ... this would have been GREAT!!! that would have been a max of $10,000 for us!  which, at the time, we would have BOUGHT crap with instead of putting it away for college ....

please remember that at the time we had children, GSLs were still around and college was about 1/2 the price it costs now, and a Bachelor's degree still meant more than yor high school diploma.

Now, we will only get ONE year of tax help for ONE child even though we have 3 living under our roof ....

but now my oldest is looking at getting married ....
She is talking about someday having at least one baby {things have changed so much .... in my day children were like potato chips, you can't stop with just one} .... 
THEY are the ones who will have to deal with the new tax credits ...

and burdens ....

don't just listen to what is being said but what is NOT being said ....

after all ... 

all obama said was 

change

his change killed my father's business ... and eventually my father s the bank came for the family home he had hoped to pass on to us kids.

Under Bush 1 we went from upper-lower class to middle class, under Clitnon we stayed middle-class but i was able to stay home with the kids, under Bush2 we were able to buy our farm, under Obama we have begun to live paycheck-to-paycheck even though we are making MORE THAN twice what we did when i firsty leftthe work force.

its been 20+ yreas since I've held a job .... if I get one, we will be pushed ito a new/worse tax bracket .... but any little bit of income will help tons ....

we need to get someone in the WH who understands THIS part of life ....

Im leaning towards Walker at this point, really.  but we will see .... ive just seen how well he's helped my in-laws with they're taxes in WI even though the county has screwed them over instead.


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