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Published - Tuesday, July 29, 2008

POST COMMENT | READ COMMENTS (7 comment(s))

Walz unveils tax-cut proposal

.
Rep. Tim Walz, DFL-Minnesota, introduced a proposal on Monday that he said would give 61 million Americans an average income-tax cut of $750 a year.

As part of the proposal, Walz would enact a host of business-tax increases and other revenue-generators that he said would pay down $60 billion in federal debt.

To generate the new revenue, Walz would repeal subsidies to oil and gas companies and eliminate what he described as unnecessary corporate-tax loopholes.

The bulk of Walz's proposed tax cuts would come from doubling the standard income-tax deduction, which now is $5,450 for an individual and $10,900 for a married couple. The proposal would enact further tax cuts by allowing more taxpayers to deduct local property taxes without itemizing them, and and by expanding access to the federal child tax credit.

Here's a link to a video that shows Walz unveiling the proposal in the U.S. House: http://www.bluestemprairie.com/a_bluestem_prairie/2008/07/mnmusetube-walz.html

What do WDN readers think of the proposal? Would such a tax cut help your family pay for climbing gas prices and jump-start a struggling economy? Would the proposed business-tax increases erase the benefits of the income-tax cut?
.
 Tell us what you think...

 Comments »

CommonSense wrote on Aug 25, 2008 8:38 AM:

" Let's keep going after the wealthy and giving it to the ones who want it. At the same time let's take away any incentive to "make it" in America, by not allowing those who work hard to "make it" to have what they have earned. Hey, maybe this will thwart those immigrants who are coming here to actually try to make an honest living!!! Go for it! "

Troller wrote on Aug 5, 2008 12:25 PM:

" Sorry Chuck, but your cousin isn't sending you a dime, here or in Seattle. If you make some money next year he wants to steal just $750 less. "

charles walling wrote on Jul 31, 2008 9:37 PM:

" that aboy cousin tim, you can send the money to me in seattle. "

charles walling wrote on Jul 31, 2008 5:48 PM:

" is my cousin aiming for a higher office. hey cousin send me the $750.00 i,ll take it "

Rawhide wrote on Jul 30, 2008 8:06 PM:

" Liberal Democrats do not propose tax cuts. They propose wealth transfers. The Top 1% of wage earners in this country pay 40% of all of our taxes. The top 50% of all wage earners pay 96.54% of all taxes (IRS D-Base info - 2003 data - 2004 data not out yet; usual government efficientcy). Looking at this from the bottom up, this means the bottom 50% of wage earners (Those who make less than $29,019) pay only 3.45% of all taxes. It is time that we stop punishing the producers of this country and start expecting those at the bottom to start contributing. "

editorintraining wrote on Jul 30, 2008 7:28 PM:

" The slogan "raise rich people's taxes" sure can work to get elected, but doesn't really work in the real world. Troller is exactly right. Who do you think gets the shaft when big government raises corporate taxes? They just pass it along to us little folk. The same people (Dems) who whine about corporations shifting our jobs to other countries are forcing them to do so by increasing their tax burden. Go ahead and give the average Joe a tax break, but don't get upset if you alienate the ones who's taxes you raise. Tax increases don't really generate revenue. Tax breaks do! "

Troller wrote on Jul 30, 2008 7:45 AM:

" Is this the same Walz who called the Bush's plan to give up to $1,200 of taxpayer's money, back to the taxpayer (who earned it) as a bad thing? But his $750 plan is a good thing? Walz wants to raise taxes on businesses who provide our daily bread, transportation, shelter and everything else we consume? A tax increase which will most certainly be PASSED ALONG to all those "average Americans", and remaining 239 million Americans, who will now pay more for consumables? I wonder how many jobs this plan will eliminate? Ya I suppose some folks can afford higher prices with their $750 credit. Walz must love the poor, maybe that's why he is trying to create so many of them? The Walz tax cut/increased cost of living plan. Hmmm! "


The comments above are from readers. In no way do they represent the views of theRiver Valley Blogs.

 Post a comment (150 word limit) »
We will not post reader comments containing racial, religious or personal attacks, slander, profanity, e-mail addresses, mailing addresses, phone numbers or Web site addresses that are for personal or promotional gain.
(optional)
   
Thank you for your comments! Once your comments are approved, they will appear on the site.

Published - Tuesday, July 29, 2008

POST COMMENT | READ COMMENTS (7 comment(s))

Walz unveils tax-cut proposal

.
Rep. Tim Walz, DFL-Minnesota, introduced a proposal on Monday that he said would give 61 million Americans an average income-tax cut of $750 a year.

As part of the proposal, Walz would enact a host of business-tax increases and other revenue-generators that he said would pay down $60 billion in federal debt.

To generate the new revenue, Walz would repeal subsidies to oil and gas companies and eliminate what he described as unnecessary corporate-tax loopholes.

The bulk of Walz's proposed tax cuts would come from doubling the standard income-tax deduction, which now is $5,450 for an individual and $10,900 for a married couple. The proposal would enact further tax cuts by allowing more taxpayers to deduct local property taxes without itemizing them, and and by expanding access to the federal child tax credit.

Here's a link to a video that shows Walz unveiling the proposal in the U.S. House: http://www.bluestemprairie.com/a_bluestem_prairie/2008/07/mnmusetube-walz.html

What do WDN readers think of the proposal? Would such a tax cut help your family pay for climbing gas prices and jump-start a struggling economy? Would the proposed business-tax increases erase the benefits of the income-tax cut?
.
 Tell us what you think...

 Comments »

CommonSense wrote on Aug 25, 2008 8:38 AM:

" Let's keep going after the wealthy and giving it to the ones who want it. At the same time let's take away any incentive to "make it" in America, by not allowing those who work hard to "make it" to have what they have earned. Hey, maybe this will thwart those immigrants who are coming here to actually try to make an honest living!!! Go for it! "

Troller wrote on Aug 5, 2008 12:25 PM:

" Sorry Chuck, but your cousin isn't sending you a dime, here or in Seattle. If you make some money next year he wants to steal just $750 less. "

charles walling wrote on Jul 31, 2008 9:37 PM:

" that aboy cousin tim, you can send the money to me in seattle. "

charles walling wrote on Jul 31, 2008 5:48 PM:

" is my cousin aiming for a higher office. hey cousin send me the $750.00 i,ll take it "

Rawhide wrote on Jul 30, 2008 8:06 PM:

" Liberal Democrats do not propose tax cuts. They propose wealth transfers. The Top 1% of wage earners in this country pay 40% of all of our taxes. The top 50% of all wage earners pay 96.54% of all taxes (IRS D-Base info - 2003 data - 2004 data not out yet; usual government efficientcy). Looking at this from the bottom up, this means the bottom 50% of wage earners (Those who make less than $29,019) pay only 3.45% of all taxes. It is time that we stop punishing the producers of this country and start expecting those at the bottom to start contributing. "

editorintraining wrote on Jul 30, 2008 7:28 PM:

" The slogan "raise rich people's taxes" sure can work to get elected, but doesn't really work in the real world. Troller is exactly right. Who do you think gets the shaft when big government raises corporate taxes? They just pass it along to us little folk. The same people (Dems) who whine about corporations shifting our jobs to other countries are forcing them to do so by increasing their tax burden. Go ahead and give the average Joe a tax break, but don't get upset if you alienate the ones who's taxes you raise. Tax increases don't really generate revenue. Tax breaks do! "

Troller wrote on Jul 30, 2008 7:45 AM:

" Is this the same Walz who called the Bush's plan to give up to $1,200 of taxpayer's money, back to the taxpayer (who earned it) as a bad thing? But his $750 plan is a good thing? Walz wants to raise taxes on businesses who provide our daily bread, transportation, shelter and everything else we consume? A tax increase which will most certainly be PASSED ALONG to all those "average Americans", and remaining 239 million Americans, who will now pay more for consumables? I wonder how many jobs this plan will eliminate? Ya I suppose some folks can afford higher prices with their $750 credit. Walz must love the poor, maybe that's why he is trying to create so many of them? The Walz tax cut/increased cost of living plan. Hmmm! "


The comments above are from readers. In no way do they represent the views of theRiver Valley Blogs.

 Post a comment (150 word limit) »
We will not post reader comments containing racial, religious or personal attacks, slander, profanity, e-mail addresses, mailing addresses, phone numbers or Web site addresses that are for personal or promotional gain.
(optional)
   
Thank you for your comments! Once your comments are approved, they will appear on the site.

Published - Tuesday, July 29, 2008

POST COMMENT | READ COMMENTS (7 comment(s))

Walz unveils tax-cut proposal

.
Rep. Tim Walz, DFL-Minnesota, introduced a proposal on Monday that he said would give 61 million Americans an average income-tax cut of $750 a year.

As part of the proposal, Walz would enact a host of business-tax increases and other revenue-generators that he said would pay down $60 billion in federal debt.

To generate the new revenue, Walz would repeal subsidies to oil and gas companies and eliminate what he described as unnecessary corporate-tax loopholes.

The bulk of Walz's proposed tax cuts would come from doubling the standard income-tax deduction, which now is $5,450 for an individual and $10,900 for a married couple. The proposal would enact further tax cuts by allowing more taxpayers to deduct local property taxes without itemizing them, and and by expanding access to the federal child tax credit.

Here's a link to a video that shows Walz unveiling the proposal in the U.S. House: http://www.bluestemprairie.com/a_bluestem_prairie/2008/07/mnmusetube-walz.html

What do WDN readers think of the proposal? Would such a tax cut help your family pay for climbing gas prices and jump-start a struggling economy? Would the proposed business-tax increases erase the benefits of the income-tax cut?
.
 Tell us what you think...

 Comments »

CommonSense wrote on Aug 25, 2008 8:38 AM:

" Let's keep going after the wealthy and giving it to the ones who want it. At the same time let's take away any incentive to "make it" in America, by not allowing those who work hard to "make it" to have what they have earned. Hey, maybe this will thwart those immigrants who are coming here to actually try to make an honest living!!! Go for it! "

Troller wrote on Aug 5, 2008 12:25 PM:

" Sorry Chuck, but your cousin isn't sending you a dime, here or in Seattle. If you make some money next year he wants to steal just $750 less. "

charles walling wrote on Jul 31, 2008 9:37 PM:

" that aboy cousin tim, you can send the money to me in seattle. "

charles walling wrote on Jul 31, 2008 5:48 PM:

" is my cousin aiming for a higher office. hey cousin send me the $750.00 i,ll take it "

Rawhide wrote on Jul 30, 2008 8:06 PM:

" Liberal Democrats do not propose tax cuts. They propose wealth transfers. The Top 1% of wage earners in this country pay 40% of all of our taxes. The top 50% of all wage earners pay 96.54% of all taxes (IRS D-Base info - 2003 data - 2004 data not out yet; usual government efficientcy). Looking at this from the bottom up, this means the bottom 50% of wage earners (Those who make less than $29,019) pay only 3.45% of all taxes. It is time that we stop punishing the producers of this country and start expecting those at the bottom to start contributing. "

editorintraining wrote on Jul 30, 2008 7:28 PM:

" The slogan "raise rich people's taxes" sure can work to get elected, but doesn't really work in the real world. Troller is exactly right. Who do you think gets the shaft when big government raises corporate taxes? They just pass it along to us little folk. The same people (Dems) who whine about corporations shifting our jobs to other countries are forcing them to do so by increasing their tax burden. Go ahead and give the average Joe a tax break, but don't get upset if you alienate the ones who's taxes you raise. Tax increases don't really generate revenue. Tax breaks do! "

Troller wrote on Jul 30, 2008 7:45 AM:

" Is this the same Walz who called the Bush's plan to give up to $1,200 of taxpayer's money, back to the taxpayer (who earned it) as a bad thing? But his $750 plan is a good thing? Walz wants to raise taxes on businesses who provide our daily bread, transportation, shelter and everything else we consume? A tax increase which will most certainly be PASSED ALONG to all those "average Americans", and remaining 239 million Americans, who will now pay more for consumables? I wonder how many jobs this plan will eliminate? Ya I suppose some folks can afford higher prices with their $750 credit. Walz must love the poor, maybe that's why he is trying to create so many of them? The Walz tax cut/increased cost of living plan. Hmmm! "


The comments above are from readers. In no way do they represent the views of theRiver Valley Blogs.

 Post a comment (150 word limit) »
We will not post reader comments containing racial, religious or personal attacks, slander, profanity, e-mail addresses, mailing addresses, phone numbers or Web site addresses that are for personal or promotional gain.
(optional)
   
Thank you for your comments! Once your comments are approved, they will appear on the site.

Published - Tuesday, July 29, 2008

POST COMMENT | READ COMMENTS (7 comment(s))

Walz unveils tax-cut proposal

.
Rep. Tim Walz, DFL-Minnesota, introduced a proposal on Monday that he said would give 61 million Americans an average income-tax cut of $750 a year.

As part of the proposal, Walz would enact a host of business-tax increases and other revenue-generators that he said would pay down $60 billion in federal debt.

To generate the new revenue, Walz would repeal subsidies to oil and gas companies and eliminate what he described as unnecessary corporate-tax loopholes.

The bulk of Walz's proposed tax cuts would come from doubling the standard income-tax deduction, which now is $5,450 for an individual and $10,900 for a married couple. The proposal would enact further tax cuts by allowing more taxpayers to deduct local property taxes without itemizing them, and and by expanding access to the federal child tax credit.

Here's a link to a video that shows Walz unveiling the proposal in the U.S. House: http://www.bluestemprairie.com/a_bluestem_prairie/2008/07/mnmusetube-walz.html

What do WDN readers think of the proposal? Would such a tax cut help your family pay for climbing gas prices and jump-start a struggling economy? Would the proposed business-tax increases erase the benefits of the income-tax cut?
.
 Tell us what you think...

 Comments »

CommonSense wrote on Aug 25, 2008 8:38 AM:

" Let's keep going after the wealthy and giving it to the ones who want it. At the same time let's take away any incentive to "make it" in America, by not allowing those who work hard to "make it" to have what they have earned. Hey, maybe this will thwart those immigrants who are coming here to actually try to make an honest living!!! Go for it! "

Troller wrote on Aug 5, 2008 12:25 PM:

" Sorry Chuck, but your cousin isn't sending you a dime, here or in Seattle. If you make some money next year he wants to steal just $750 less. "

charles walling wrote on Jul 31, 2008 9:37 PM:

" that aboy cousin tim, you can send the money to me in seattle. "

charles walling wrote on Jul 31, 2008 5:48 PM:

" is my cousin aiming for a higher office. hey cousin send me the $750.00 i,ll take it "

Rawhide wrote on Jul 30, 2008 8:06 PM:

" Liberal Democrats do not propose tax cuts. They propose wealth transfers. The Top 1% of wage earners in this country pay 40% of all of our taxes. The top 50% of all wage earners pay 96.54% of all taxes (IRS D-Base info - 2003 data - 2004 data not out yet; usual government efficientcy). Looking at this from the bottom up, this means the bottom 50% of wage earners (Those who make less than $29,019) pay only 3.45% of all taxes. It is time that we stop punishing the producers of this country and start expecting those at the bottom to start contributing. "

editorintraining wrote on Jul 30, 2008 7:28 PM:

" The slogan "raise rich people's taxes" sure can work to get elected, but doesn't really work in the real world. Troller is exactly right. Who do you think gets the shaft when big government raises corporate taxes? They just pass it along to us little folk. The same people (Dems) who whine about corporations shifting our jobs to other countries are forcing them to do so by increasing their tax burden. Go ahead and give the average Joe a tax break, but don't get upset if you alienate the ones who's taxes you raise. Tax increases don't really generate revenue. Tax breaks do! "

Troller wrote on Jul 30, 2008 7:45 AM:

" Is this the same Walz who called the Bush's plan to give up to $1,200 of taxpayer's money, back to the taxpayer (who earned it) as a bad thing? But his $750 plan is a good thing? Walz wants to raise taxes on businesses who provide our daily bread, transportation, shelter and everything else we consume? A tax increase which will most certainly be PASSED ALONG to all those "average Americans", and remaining 239 million Americans, who will now pay more for consumables? I wonder how many jobs this plan will eliminate? Ya I suppose some folks can afford higher prices with their $750 credit. Walz must love the poor, maybe that's why he is trying to create so many of them? The Walz tax cut/increased cost of living plan. Hmmm! "


The comments above are from readers. In no way do they represent the views of theRiver Valley Blogs.

 Post a comment (150 word limit) »
We will not post reader comments containing racial, religious or personal attacks, slander, profanity, e-mail addresses, mailing addresses, phone numbers or Web site addresses that are for personal or promotional gain.
(optional)
   
Thank you for your comments! Once your comments are approved, they will appear on the site.

 

 
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