[Loco Vette]

Originally Posted by Joecooool

Your comment is irrelevant to the discussion. The 47% of Americans Romney referenced are the ones that pay no income tax. But the majority of them still pay tax for Social Security and Medicare.

Neither of those are FEDERAL INCOME TAX. RIF.

His comments are wrong.

No they are not.

Of the 47% he slighted, 28% of them still pay Medicare and Social Security taxes. 10% are elderly with SS being their only source of income. SS benefits are not taxed.

But they contribute nothing to the country otherwise. You know, for thinks like national defense, roads, IRS agents, etc. The two items you *cited are (despite the fact that they are in reality both Ponzi schemes) systems in which an individual pays in and in theory receives the benefits down the road. Federal income tax is seized by the government from one group of people to give to another.

What dumbass thinks all the retirees are voting for Obama?

You really went a long way to leap to that conclusion, didn't you?

Your only real beef is with the 7%. You know, that group of high rollers flipping burgers at McDonalds. And as the article indicates, you can thank Ronald Reagan for the tax breaks for that group.

Nice spin move there!

http://en.wikipedia.org/wiki/Earned_income_tax_credit

Enacted in 1975, the initially modest EIC has been expanded by tax legislation on a number of occasions, including the widely-publicized Reagan Tax Reform Act of 1986, and was further expanded in 1990, 1993, and 2001, regardless of whether the act in general raised taxes (1990, 1993), lowered taxes (2001), or eliminated other deductions and credits (1986).[6]

So it was enacted under Ford, expanded under Reagan, expanded twice more under Clinton, and once more under Bush II. Everyone had a finger in that pie.

And your messiah would do well to take a lesson from that. Even though Reagan may or may not have liked the EITC, he worked with the people across the aisle to reach a compromise (a word Obama clearly has no understanding of) to create a workable peice of tax legislation that moved the country forward.