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Author Topic: The "middle class task force"  (Read 2704 times)

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Offline Flame

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The "middle class task force"
« on: January 25, 2010, 11:32:45 AM »
Saw Biden in a press conference/news release, whatever, outline the plans for the middle class.

Sorta pissed me off.

3 basic tenents:

Child care credits up....what about those of us who chose to raise our OWN kids?

Student loans...make them easier to repay but keeping it to no more than 10% of income, or forgiving some if you go into a "service" job.   Again, what about those of us that paid the loan the way we agreed to pay it?

IRA...make it mandatory for employers to have one (employess can opt out, but it must be an option), and I think I heard something about matching by the govt, but I can't be sure.      IRA's have always been available, you can get one privately...why is it my problem if some people don't chose to utilize one?
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Offline thundley4

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Re: The "middle class task force"
« Reply #1 on: January 25, 2010, 11:40:44 AM »
Lord Zero has considered a government run IRA of some sort , I believe. 
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Offline DumbAss Tanker

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Re: The "middle class task force"
« Reply #2 on: January 25, 2010, 12:50:56 PM »
Actually it all sounds like further burdens on employers, without any productivity improvement even in the mid-term (There would be a slim but colorable long-term positive effect via the education loans).  None of that addresses current economic needs, it only further burdens employers, taxpayers, or both.
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Offline NHSparky

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Re: The "middle class task force"
« Reply #3 on: January 25, 2010, 01:00:30 PM »
Maybe we can ask the "task force" why Obama promised not to raise our taxes, yet has done exactly that.
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Offline ConservativeMobster

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Re: The "middle class task force"
« Reply #4 on: January 25, 2010, 01:08:02 PM »
CNN is reporting that the feds will match an IRA contribution of up to 1K.  Not much detail but I am of the impression that it will be some sort of government program retirement account.  Isn't that like SOCIAL SECURITY.

Did my daughters income tax this weekend and she was given the option to have her refund placed into a SAVINGS BOND! 

Yeah, we went for that...NOT.
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Offline BadCat

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Re: The "middle class task force"
« Reply #5 on: January 25, 2010, 01:08:54 PM »
And of course, he just cannot resist spending some more of our money...

Quote
Increase child care funding by $1.6 billion in 2011 to serve an additional 235,000 children.

* Boost government spending by $102.5 million for programs aimed at helping families who provide home care for an aging relative.
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Offline formerlurker

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Re: The "middle class task force"
« Reply #6 on: January 25, 2010, 01:13:52 PM »
Quote from: BadCat on January 25, 2010, 01:08:54 PM
* Boost government spending by $102.5 million for programs aimed at helping families who provide home care for an aging relative.


This is actually smart -- medicare costs associated with nursing homes is staggering. 
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Offline formerlurker

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Re: The "middle class task force"
« Reply #7 on: January 25, 2010, 01:15:29 PM »
Quote from: Flame on January 25, 2010, 11:32:45 AM
Child care credits up....what about those of us who chose to raise our OWN kids?

Child care credits = tax breaks.   We don't like this because?
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Offline DumbAss Tanker

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Re: The "middle class task force"
« Reply #8 on: January 25, 2010, 01:20:51 PM »
Quote from: formerlurker on January 25, 2010, 01:15:29 PM
Child care credits = tax breaks.   We don't like this because?

The problem is that tax breaks do not equal spending reduction, which in turn means that the revenue loss represented by the tax break for some will have to be made up by others; for every winner there's a loser, this is just moving the deck chairs around on the Titanic.
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Offline thundley4

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Re: The "middle class task force"
« Reply #9 on: January 25, 2010, 01:35:55 PM »
Quote from: ConservativeMobster on January 25, 2010, 01:08:02 PM


Did my daughters income tax this weekend and she was given the option to have her refund placed into a SAVINGS BOND! 

Yeah, we went for that...NOT.

Somewhere on this board is an article I posted last year about Lord Zero wanting to do that as a means of "promoting savings".  (reality is that it is a money grab by the government)
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Offline NHSparky

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Re: The "middle class task force"
« Reply #10 on: January 25, 2010, 01:37:24 PM »
Quote from: formerlurker on January 25, 2010, 01:15:29 PM
Child care credits = tax breaks.   We don't like this because?

How much in taxes did they take in to "give" us back $100 million?  Case in point--a couple of years ago, the state of New Mexico gave $50 tax rebates to every "qualifying" taxpayer, based on income.  Problem is, the bureaucracy there is such that they had to take in something like $80-85 for every $50 they gave out.
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Offline NHSparky

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Re: The "middle class task force"
« Reply #11 on: January 25, 2010, 01:38:35 PM »
Quote from: thundley4 on January 25, 2010, 01:35:55 PM
Somewhere on this board is an article I posted last year about Lord Zero wanting to do that as a means of "promoting savings".  (reality is that it is a money grab by the government)

I can't wait until some DUmbass "mistakenly" checks that option and realizes what they've done.  Then again, the government has to pawn their worthless bonds off on SOMEONE, since the Chinese aren't in a position to buy them anymore, nor do they want them.
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Offline BadCat

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Re: The "middle class task force"
« Reply #12 on: January 25, 2010, 01:42:35 PM »
Are they I bonds or E bonds?

If they're E bonds, only a FOOL would take them, and they're not paying any interest on the I bonds right now.
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Offline ConservativeMobster

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Re: The "middle class task force"
« Reply #13 on: January 26, 2010, 06:19:27 AM »
Quote from: BadCat on January 25, 2010, 01:42:35 PM
Are they I bonds or E bonds?

If they're E bonds, only a FOOL would take them, and they're not paying any interest on the I bonds right now.

Unfortunately I didn't get in deep enough to found out.  I have some E's somewhere  ::)
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