5.21.2006

taxes! the finger thing means the taxes!

TPM caught this wonderful quote from wonderful "human being" Dennis Hastert last week:

Well, folks, if you earn $40,000 a year and have a family of two, you don't pay any taxes. So you probably, if you don't pay any taxes, you are not going to get a big tax cut.

There's some notes and updates at the link above explaining exactly why this is bullshit, but come on...I'm a family of one making less than a year of my college education cost, and I pay a good deal of taxes; maybe no federal income tax, but payroll, property, sales...am I missing any? And I actually don't think I need or deserve a cut - just like I don't think those making hundreds of thousands more than me deserve one. Anyway, our roly-poly Speaker of the House suggesting that those in and around the same pay grade as me make no contribution is truly offensive.

[taxes]

posted by brian @ 7:33 PM

5 Comments:

Alex said...: You pay prop taxes???; 11:25 PM
brian said...: I think it's fair to assume that a piece of rent goes to cover the apartment owner's property taxes.

With that being said, remember that owners get to deduct their property taxes at the end of the year, making for a mighty savings. But the credit for renters (if available) is paltry.; 12:37 PM
Alex said...: Wait, what exactly are apartment owners deducting from what? Collected rent on their apartments from their own person income?; 6:08 PM
brian said...: Apartment owners - like all property owners - get to deduct the property taxes they pay from their federal tax return. But those property taxes are paid for - completely, I would imagine - by tenants. And yet tenants get little to nothing in terms of a tax credit for renting. At least, that is my understanding.; 7:01 PM
Alex said...: Why do I get the feeling this will soon be devolving into the "They write it off, Jerry!" debate from Seinfeld.; 7:57 PM