capequahog

Tax rebate money

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I get a kick out of all these people saying it is inequitable that the highest earners get the biggest refund.     Hey ******, who do you think paid the $3 trillion in excess taxes !

 

 

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24 mins ago, Gloucester2 said:

I get a kick out of all these people saying it is inequitable that the highest earners get the biggest refund.     Hey ******, who do you think paid the $3 trillion in excess taxes !

 

 

and they're not getting any of it back

 

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14 hours ago, Gloucester2 said:

I get a kick out of all these people saying it is inequitable that the highest earners get the biggest refund.     Hey ******, who do you think paid the $3 trillion in excess taxes !

 

 

I don't understand how they justify question 1 if they're already ending up with excess taxes at the end of the year.  Wouldn't that just create more excess?

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The substantial excess this year is largely due to one-time federal COVID aid. I wouldn’t expect a similar excess in future years. 

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16 hours ago, Gloucester2 said:

I get a kick out of all these people saying it is inequitable that the highest earners get the biggest refund.     Hey ******, who do you think paid the $3 trillion in excess taxes !

 

 


The position “these people” put forth is that the entire refund is based on tax liability and ignores that large portions of all state taxes come from sources other than income.  Some data suggest that MA personal income tax represent only a third of all MA state and local taxes. 
 

From that position, they argue it’s unfair to lower income folks who may not have a tax liability, but nonetheless, paid sales, other fees and taxes that contribute to the surplus the refund is based on.  


 

 

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If you dont have that tax liability, you also dont have that buying power to pay relative sales tax. 

 

 

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26 mins ago, z-man said:

Is there a date for when this refund is supposed to arrive?

News agencies reported that State officials say "refund checks and direct deposits will start to head out the door Nov. 1".

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7 hours ago, jmei said:

The substantial excess this year is largely due to one-time federal COVID aid. . 

 

You mean the substantial excess in tax revenue?

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1 hour ago, Joe G said:

 

You mean the substantial excess in tax revenue?

The substantial budget surplus. Per the Massachusetts Taxpayer Foundation: “The primary reason the surplus is larger this year is because the original FY 2021 budget relied on close to $2 billion in one-time resources, including the Stabilization Fund. Much of last year's excess tax revenue was used to eliminate the need for these temporary revenues. The original FY 2022 budget did not rely on the Stabilization Fund or other one-time resources, freeing up excess tax revenues for the surplus.”

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3 hours ago, z-man said:

Is there a date for when this refund is supposed to arrive?

It's supposed to start on Nov 1. I have no idea how they're scheduling it, if it's alphabetical or by sorted social security #s or when you filed your '21 tax return or sorted by the amount you're getting.

 

 

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Posted (edited)

 

On 11/2/2022 at 3:29 PM, Maine Guide said:

Has not appeared in my checking account yet.

everyone's getting it except you Shifty. and Santa's giving you coal this year as well.  But governor Charlie will give your pup some extra Milk Bones. :)

Edited by zak-striper

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