Since you're a tax guy allow me to float something by you that's been on my math challenged mind.
All these think tanks are coming up with figures that show people in the lower brackets will end up paying more taxes. However, if the majority of these people don't pay any taxes now and actually, in many cases, get a refund, then the so-called "increase in taxes" would not be an out-of-pocket expense, but instead would represent money not received in refunds for something that was never paid in the first place. Did you follow my thinking?
It's sounds like typical Washington double speak ie: we were going to spend 10 billion but instead we spent 8 billion so see, silly people, we "cut" or "saved" 2 billion.
I think the fact that Obama is now demonizing 999 speaks volumes.
Great cartoon.
ReplyDeleteAbout 999
Since you're a tax guy allow me to float something by you that's been on my math challenged mind.
All these think tanks are coming up with figures that show people in the lower brackets will end up paying more taxes. However, if the majority of these people don't pay any taxes now and actually, in many cases, get a refund, then the so-called "increase in taxes" would not be an out-of-pocket expense, but instead would represent money not received in refunds for something that was never paid in the first place. Did you follow my thinking?
It's sounds like typical Washington double speak ie: we were going to spend 10 billion but instead we spent 8 billion so see, silly people, we "cut" or "saved" 2 billion.
I think the fact that Obama is now demonizing 999 speaks volumes.