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Tuesday, February 19, 2008

Count the "refundable tax credits" in 

Obama's economic plan.

By the way, anybody who objects to "death tax" should not be allowed to even think the term "refundable tax credit".


3 Comments:

By Anonymous Anonymous, at Tue Feb 19, 05:57:00 PM:

The $1000 tax credit sounds nice,
but
Is that before or after the Bush tax cuts expire?

There is no way I would want the IRS to provide me with pre-filled in forms....
Sounds like the Clinton Tax Form:
line 1 Total Income ______
line 2 Send it all to US GOVT  

By Blogger Georg Felis, at Tue Feb 19, 07:10:00 PM:

The two things I can see that immediately will stop this idea in its tracks.
1. It provides the tax cheat with a yearly feedback on how well he has managed to conceal his under-the-table income, and removes the “Did they catch that” fear that helps greatly with enforcement.

2. Can you imagine how much howling will go on as the IRS provides people who’s SSN have been “borrowed” by undocumented workers (or just normal mistakes), a month by month tally of their “income”, and how devilishly hard it will be to prove to the IRS that you really didn’t work for three months as a bricklayer in California during your off-hours as a Bus Driver in New York.

IRS Court: Presumed Guilty until proven innocent, and you still owe court costs.  

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