EARNED INCOME TAX CREDIT
Earned? This is how it works: the IRS distributes money to qualifying taxpayers as though they overpaid taxes. Confused?
So, where does the IRS get the funds to redistribute to folks who don’t pay taxes? Why, from those of us who do pay taxes, of course.
Sounds fishy – what’s the principle behind the EITC? Karl Marx: “From each according to his ability, to each according to his need.” That sounds like socialism, you say, and you are correct – it’s socialism, aka “redistribution of wealth”.
PRESIDENT OBAMA’S CREDIT CARD DEBT RELIEF PLAN
Under this Democrat program, 50-60%, sometimes up to 70%, of a credit cardholder’s debt can be eliminated, if the cardholder owes $10,000, or more. How does this program work? The Feds pay off the debt with “stimulus money”. Understand that this is not money from Heaven, but either the funds come from US Treasury bills (borrowed) or from taxpayers.
This program rewards irresponsible credit cardholders and punishes responsible credit cardholders. So, where does the IRS get the funds to redistribute to folks who don’t pay taxes? Why, from those of us who do pay taxes, of course.
Sounds fishy – what’s the principle behind Obama’s credit card debt relief program? Karl Marx: “From each according to his ability, to each according to his need.” That sounds like socialism, you say, and you are correct – it’s socialism, aka “redistribution of wealth”.
$8,000 FIRST-TIME HOME BUYER TAX CREDIT
This program is a little different. Instead of robbing taxpayers to give to non-taxpayers, this program helps unqualified home buyers buy a home. Doesn’t make sense? Right.
With the tax credit, a low-income home buyer can afford to make payments for at least one year. What happens after the first year? Don’t you remember Fannie Mae and Freddie Mac?
This program will stall foreclosure rates now, deferring them to another year. An undesirable consequence is it artificially holds home prices above their ‘natural’ price and will greatly contribute to the ‘double-dip’ recession coming to a neighborhood near you, soon.
INCOME TAX DEBACLE
On Tax Day 2010, approximately 47% of American households paid no income tax whatsoever. How so? Income threshold, tax credits (see above), deductions and exemptions made this possible. Quick minds will see that about half of all American households don’t pay income taxes.
Is this important? Federal income tax generates about $900 billion per year, slightly less than half of all US Government receipts. Because expenditures continue to climb and “poverty level” continues to be elevated, we who pay income taxes must pay more than ever before. Before long, we will be at WW2 levels of income confiscation.
WHAT’S THE CURE?
“We the People” are the cure. And, yes, you guys who have “good paying government jobs” have no immunity. The time will come when the federal government will be unable to borrow money to pay your salaries and benefits. What do you suppose will happen then? I don’t want to lose you, now. Yes, you will be laid off, fired, rifted, unemployed.
LEARN how government works and get of this “throw the bums out” stupidity. Wise and thoughtful men and women hold elected office and we need them now more than ever.
PARTICIPATE in local government. No, you don’t have to attend every kind of meeting, but you can do something. I personally attend Rockwall City Council meetings and some P & Z committee meetings. For me, County Commissioners Court meetings are difficult, because they are held during prime business hours.
JOIN an appropriate county Republican club. In Rockwall, we have four excellent clubs: Young Republicans, Republican Women’s Club, Republican Men’s Club and the Lunch Bunch. Dues are modest, so modest even unemployed persons can afford to join.
In any wise, these clubs welcome your participation even if you never join as a dues-paying member. The clubs offer opportunities to meet local elected leaders and your neighbors.
In the famous words of former Speaker of the House, Tip O’Neil, “All politics is local”. If you have no influence in your community, why would you expect to influence Austin or Washington, D.C.? </p>
VOTE – well, you can’t vote, if you’re not registered to vote. In the most recent City of Rockwall municipal elections, fewer than 5% of our registered voters showed up at the polls. Shameful, indeed.
How do I register? Two ways:
- Visit the Rockwall County Elections Office, 107 East Kaufman Street, north side of the Historic Courthouse square.
- Contact Rockwall County Republican Party Headquarters and a registrar will help you.
NOW OR NEVER
2010 November elections will probably mark the “point of no return” for America, as we have known her.
However imperfect you may think some Republican candidates and incumbents; our best opportunity to reverse the Obama-Pelosi-Reid juggernaut lies with the Republican Party. Key to supporting and electing truly conservative Republicans is to know them: their voting records, stated philosophies, etc.
The left wing of the Democrat party has taken America to unparalleled government control of business, education, finance and even real estate sales. Obama’s minions now dictate what foods we eat and what can be sold at garage sales.
Free on-line email contact for Congress – click on name for website contact form.
TEA Party Rockwall
Next TEA Party – July 17th “Taking back the House floor”