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Post by MF on May 8, 2016 20:33:09 GMT -5
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Post by Dave's Not Here Man on May 9, 2016 9:59:05 GMT -5
First of all, I call bullshit on your cite. A quick goofle search returned the the census bureau report that put the number at 21% in the very first result. We can argue about that being too high when you start a thread on it not based on false or misleading "information". Second of all, how much government assistance have you received, Mr. Entitlement |
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Post by MF on May 9, 2016 11:10:13 GMT -5
I couldn't get the Forbes link to open...I will try at home tonight.... Govt assistance I have gotten..... Would FHA be considered ?? I thought unemployment...but that is paid by businesses.... Would obamacare be one  That Fucked me pretty bad..... I can't think of any.....give me a few choices..... |
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Post by Dave's Not Here Man on May 9, 2016 15:54:49 GMT -5
HARP? HAMP? And yep, the F in FHA stands for Federal.
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Post by Dave's Not Here Man on May 9, 2016 15:55:53 GMT -5
The other day, the Census Bureau put out a new report that concluded about one-in-five Americans received government benefits in 2012. But the study, called Dynamics of Economic Well-Being: Participation in Government Programs, 2009–2012: Who Gets Assistance, takes a far too narrow view about who gets the help.
A more accurate estimate of the share of Americans who get government subsidies would be, roughly, one hundred percent. It is, in fact, hard to imagine an American who does not get government assistance in some form. Sometimes, it is through means-tested direct benefits—the programs Census was looking at.
More often, it comes in the form of tax subsidies. And for the elderly and some people with disabilities, it also comes from Medicare and Social Security—despite the popular myth, both programs are substantially funded through general revenues. If we are going to think about government assistance in an era of fiscal constraints, it is misleading to think only about direct means-tested spending and ignore tax expenditures and old age transfers.
Since this is TaxVox, let’s focus on the missing tax expenditures. Do you have a mortgage? You get assistance. How about employer sponsored health insurance? Or a retirement plan? Do you give to charity? Or buy municipal bonds? Do you own a small business? Congrats. You are being subsidized by the government.
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And those are just the direct subsidies. If you work for, or invest in, just about any company in the U.S., you also are benefiting from tax subsidies. I could go on, but you probably have the idea by now.
Census was only looking at people who received means-tested benefits such as Medicaid, SNAP (aka Food Stamps), TANF (aka welfare), Supplemental Security Income, and the like. That’s useful information, but limited only to direct spending. It did not even include tax subsidies such as the refundable portion of the Earned Income Tax Credit, which the federal budget books as spending.
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Yet, tax subsidies such as the EITC and the Child Tax Credit are much more important than direct cash benefits for low- and moderate-income households. For instance, in 2011, the government spent about $26.5 billion on TANF compared to $56 billion on the child credit and $60 billion on the EITC.
But don’t think poor people benefit the most from tax subsidies. They don’t. Middle- and high-income households get far more.
In 2012, my Tax Policy Center colleagues Eric Toder and Daniel Baneman looked at who would be hurt the most if Congress repealed individual tax expenditures. They found that, on average, after-tax income would fall by more than 12 percent.
However, the lowest 20 percent of earners would see their incomes drop by only 7.5 percent and the incomes of middle-income households would fall by a bit more than 8 percent. However, the highest-income 10 percent would see their incomes plummet by nearly twice as much—15 percent. And those in the Top 1 percent would see their incomes fall by almost one-fifth—more than 19 percent.
Much of the distribution is skewed because of the special tax treatment for capital gains and dividends, which overwhelmingly benefit the rich. But even if you leave out those preferences, those with high-incomes benefit far more from tax expenditures than low- and moderate-income households.
For instance, one-quarter of all itemized deductions went to the Top 1 percent, while almost none went to the lowest-income 40 percent. It was much the same story for tax exclusions for employer-sponsored health insurance, retirement savings, and the like.
In one sense, I’m being a bit unfair to Census, which was only trying to shed some light on a small chunk of government. Still, the report’s narrow focus unintentionally perpetuates two dangerous myths: Government benefits come only in the form of direct spending, and most go to poor people. Neither is true.
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Post by bobathon on May 9, 2016 16:02:16 GMT -5
People who think they should reap the benefits of US citizenship without paying the full price (i.e. their fucking taxes) are the worst moochers and feel the most entitled. So, rally and MF. They'll use the hell out of our socialist roads, and use our publicly funded emergency helos, but pony up their rightful share? Heaven forfend!
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Post by MF on May 9, 2016 17:40:33 GMT -5
People who think they should reap the benefits of US citizenship without paying the full price (i.e. their fucking taxes) are the worst moochers and feel the most entitled. So, rally and MF. They'll use the hell out of our socialist roads, and use our publicly funded emergency helos, but pony up their rightful share? Heaven forfend! Nice fantasy.... |
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Post by MF on May 9, 2016 18:43:54 GMT -5
HARP? HAMP? And yep, the F in FHA stands for Federal. HARP...no HAMP...I did do a loan mod,,,through Bank of America,,,, FHA,,,,,that is a govt program insuring the mortgage..I dont think they made payments or subsidized any...not sure whether any were FHA,,,,, This one started as an interstate only and then converted after 5 yrs,,,, Your Forbes article mainly dealt with taxpayers and benefits they receive, ,,but they are subsidiaries. ... Do you pay taxes on traditional welfare benefits ? I know Sasquatch doesn't. |
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Post by MF on May 9, 2016 19:11:20 GMT -5
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Post by MF on May 9, 2016 19:38:50 GMT -5
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Post by Dave's Not Here Man on May 10, 2016 20:19:51 GMT -5
www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/mha/Pages/hamp.aspxHome Affordable Modification Program (HAMP) The largest program within MHA is the Home Affordable Modification Program (HAMP). HAMP’s goal is to offer homeowners who are at risk of foreclosure reduced monthly mortgage payments that are affordable and sustainable over the long-term. HAMP was designed to help families who are struggling to remain in their homes and show: Documented financial hardship An ability to make their monthly mortgage payments afte Starting in the summer of 2012, the scope of the program will expand to help even more families in need. HAMP works by encouraging participating mortgage servicers to modify mortgages so struggling homeowners can have lower monthly payments and avoid foreclosure. It has specific eligibility requirements for homeowners and includes strict guidelines for servicers. The program includes incentives for homeowners, servicers, and investors to encourage successful mortgage modifications.
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Post by rally2xs on May 11, 2016 7:58:11 GMT -5
"More often, it comes in the form of tax subsidies." News flash, not stealing from people is not "assistance", it is simply not stealing from people.
Pass the Fair Tax and stop stealing from people.
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Post by pastafari on May 11, 2016 12:12:05 GMT -5
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Post by MF on May 11, 2016 13:46:38 GMT -5
www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/mha/Pages/hamp.aspxHome Affordable Modification Program (HAMP) The largest program within MHA is the Home Affordable Modification Program (HAMP). HAMP’s goal is to offer homeowners who are at risk of foreclosure reduced monthly mortgage payments that are affordable and sustainable over the long-term. HAMP was designed to help families who are struggling to remain in their homes and show: Documented financial hardship An ability to make their monthly mortgage payments afte Starting in the summer of 2012, the scope of the program will expand to help even more families in need. HAMP works by encouraging participating mortgage servicers to modify mortgages so struggling homeowners can have lower monthly payments and avoid foreclosure. It has specific eligibility requirements for homeowners and includes strict guidelines for servicers. The program includes incentives for homeowners, servicers, and investors to encourage successful mortgage modifications. I understand the name,,,,,what incentives were given to the financial companies from uncle sam? I didn't get any,,,,, They forgave the home equity loan 100% and lowered interstate rate to 2.5%. They added the missed payments back in to the end of the loan. They told me this loss would be better than me abandoning the house... |
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Post by Dave's Not Here Man on May 11, 2016 14:08:31 GMT -5
Did you think the lenders/investors gave 2 shits about modifying your loan out of concern for your well being? HAH!!!HAH!!!!HAH!!!!
There were tax breaks, subsidies, and incentives for the lenders. You can look up the details in the TARP bill and subsequent acts like EESA. You were a beneficiary of those if only by the mere fact that the lender worked with you at all, let alone forgave any or all debt (another socialist handout ultimately paid for by the tax payers) and reduced your interest rate (that they wrote off as a loss, even though they "lost" nothing, and got even more tax breaks, subsidies, etc and guess who paid for that Mr. Entitlement?).
You are awful high and mighty up there pointing your finger in the mirror with your eyes closed, Mr. Entitlement.
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Post by minx on May 11, 2016 15:37:32 GMT -5
You know, I bought my house when prices were low and did not move. Why should I pay for Mr. Entitlement, who took out a home equity loan and didn't want to pay it back? Sounds like he's one of the 49% to me fer sure and should be in a cardboard box on the street like the rest of the 'greedy' people who are/were underwater in their homes.
Plus I hear that Mr. Entitlement took helicopter rides at the taxpayer's expense as well. What's next? Does he itemize deductions? Cause if he does, he's definitely sucking off the government teat...
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Post by Dave's Not Here Man on May 11, 2016 16:59:09 GMT -5
It's always more interesting to hear the constant bitching about how people want free shit from the government from people who get free shit from the government.
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Post by MF on May 11, 2016 18:32:43 GMT -5
You know, I bought my house when prices were low and did not move. Why should I pay for Mr. Entitlement, who took out a home equity loan and didn't want to pay it back? Sounds like he's one of the 49% to me fer sure and should be in a cardboard box on the street like the rest of the 'greedy' people who are/were underwater in their homes. Plus I hear that Mr. Entitlement took helicopter rides at the taxpayer's expense as well. What's next? Does he itemize deductions? Cause if he does, he's definitely sucking off the government teat... I wonder who you are describing Not i. I had every intention of paying the equity loan back.... The $27k help ride was reduced to $9k along with others. I will be paying for that for a FEW more years,,,,, Bank of A told me to apply for the modification, was not my choice,,,,,, |
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Post by Dave's Not Here Man on May 11, 2016 19:35:17 GMT -5
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Post by MF on May 12, 2016 20:00:51 GMT -5
Entitlements,,,,,,
What is the difference between me and scumbag welfare mom ? ? ?
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Post by Dave's Not Here Man on May 12, 2016 20:03:52 GMT -5
Genitalia presumably but no money to bet on it today.
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That Fucked me pretty bad.....
