Comments on: Fix the Tax Code Friday: Who Gets the Tax Rebates?

By: Kelly

Kelly — Wed, 30 Jan 2008 19:42:37 +0000

Carol, I agree. It’s disturbing that the cry is spend, spend, spend. That’s part of why we’re in this pickle to begin with.

By: Carol

Carol — Wed, 30 Jan 2008 17:58:36 +0000

I’m with Mike. CPA. I don’t like this economic stimulus rebate idea. I’m telling my tax clients to save their checks or pay down debt. Neither will stimulate the economy like spending. Our Uncle Sam is teaching us the wrong behaviors!

Carol, CPA

By: Mike Sylvester, CPA

Mike Sylvester, CPA — Sun, 27 Jan 2008 18:57:50 +0000

No one should get a tax rebate like this.

Instead the Government needs to simplify the tax code; lower spending, and permenatly reduce taxes.

Mike Sylvester, CPA

By: Skipp

Skipp — Fri, 25 Jan 2008 20:59:31 +0000

Just as I am not entitled to a rebate on a car I did not buy, no one should get a rebate on taxes they did not pay.

By: Mary Emma Allen

Mary Emma Allen — Fri, 25 Jan 2008 20:56:48 +0000

My question is….who pays for the rebates if it does go through? There’s no free lunch, much as some people think there is. Someone has to pay. Will our taxes go up to do it? Why have a handout at all? Of course, it’s Presidential Election Year. Buy the votes!!

By: Rob Teuber

Rob Teuber — Fri, 25 Jan 2008 18:57:46 +0000

To determine who should get the rebates, I think that we need to consider the purpose of the tax rebates. If the rebates are part of a package that is intended to stimulate the economy…the rebates should be sent to people that will spend the money in the economy (regardless of whether they have paid tax or not).

Conversely, if the rebates are intended to be an additional refund of income taxes paid, then they should only be sent to those that have paid income tax. (Same goes for FICA).

In this analysis we should consider why it is being called “an economic stimulus package.”

By: Another Tax Geek

Another Tax Geek — Fri, 25 Jan 2008 17:20:35 +0000

I say only income tax – as currently structured, SS is a separate tax structure, now matter how much congress confuses the two. They’re right that it’s regressive (and a ponzi scheme that will ultimately screw all of us younger then the boomers).

I’d also rather see them adjust withholdings for the remainder of the year instead of wasting the time and money on checks.

By: cybergal

cybergal — Fri, 25 Jan 2008 15:44:37 +0000

I don’t have a problem with it being extended to people who don’t pay income tax (as long as they pay social security) but I don’t think there should be an income maximum on the “rebate”. It’s a slap in the face to those of us who pay the most taxes in the nation.