Walz FTW

Crappie, today must be your Friday and the trolling bite is hot

F’n infuriating!

buschman wrote:

Is this something we were supposed to apply for?? We are eligible but the first I have heard of it..

No application. You just needed to file a return in the 2021 tax year.

-J.

So when we make over $75k, we don’t deserve to get any of OUR money back? How about they give it back based on what we paid.

This is the start of redistribution of wealth. F***ing ridiculous.

We will have to pay tax on any money we got.

bigcrappie wrote:

We will have to pay tax on any money we got.

If you click on the link I posted, it clearly states there is no tax due on this refund.

-J.

Jon Jordan wrote:

<div class=”d4p-bbt-quote-title”>bigcrappie wrote:</div>
We will have to pay tax on any money we got.

If you click on the link I posted, it clearly states there is no tax due on this refund.

-J.

That’s the unfortunate thing about it, it’s clearly stated you won’t pay taxes, but anyone with a brain knows that the money the government gives out is never free. Be grateful that Walz didn’t get the $1000 he wanted up front. I still want to know how they got to $260, it seems like such a random number.

No application. You just needed to file a return in the 2021 tax year.

-J.
[/quote]

Not quite correct. I filed in 2021 and all I get is people bragging about my cash going into their bank account

Wish the old school IDO poll was still available, would be interesting to see this one play out for yea or nay for payments.

As many people complaining about not getting their check this year you would think more people would have spoken up when the republicans opposed a 7 billion dollar rebate check the last biennium.

TillrLife wrote:

Be grateful that Walz didn’t get the $1000 he wanted up front. I still want to know how they got to $260, it seems like such a random number.

The rebate money is excess tax collected. It all should have been refunded. The reason it went from $1000 (The amount Walz wanted) to $260 is the legislature spent the money on tax credits for families that make under $35k. (Don’t quote me on the exact amount) So these families who pay little or no tax will be getting big refunds it the future.

-J.

Jon Jordan wrote:

<div class=”d4p-bbt-quote-title”>bigcrappie wrote:</div>
We will have to pay tax on any money we got.

If you click on the link I posted, it clearly states there is no tax due on this refund.

-J.

Not quite true, it wont be taxed on the state level but could be federally taxed.

Feds don’t tax state refunds now. I don’t expect that to change.

-J.

gimruis wrote:

I have not received anything as of 8/17/23

Revenue Commissioner Paul Marquardt told reporters the first 200,000 or so payments landed in bank accounts Tuesday night. He said his department hoped to send out another 600,000 to 700,000 by the end of the day Thursday, and to finish with all the direct deposits Friday.

-J.

Jon Jordan wrote:

<div class=”d4p-bbt-quote-title”>TillrLife wrote:</div>
Be grateful that Walz didn’t get the $1000 he wanted up front. I still want to know how they got to $260, it seems like such a random number.

The rebate money is excess tax collected. It all should have been refunded. The reason it went from $1000 (The amount Walz wanted) to $260 is the legislature spent the money on tax credits for families that make under $35k. (Don’t quote me on the exact amount) So these families who pay little or no tax will be getting big refunds it the future.

-J.

I understand where it came from. How do they know how many families will qualify for the Child Tax Credit, this is a credit for 2023 taxes? Sure they can estimate. What household out there is sending their child to day care, while making less than $35k/year? I have to imagine that is a very low number. So, a $750 cut is pretty significant. Trust me, I am not for this BS $260 tax rebate. I think it’s BS. I would have rather seen every dime of the $17bil go to schools than this crap. But, you can’t buy votes going that direction.

Riverrat wrote:

As many people complaining about not getting their check this year you would think more people would have spoken up when the republicans opposed a 7 billion dollar rebate check the last biennium.

If I remember correctly, they opposed the rebates in favor of permanent tax cuts. Which is clearly what should’ve happened.

One way or another they still kept my money. Excuses about how they didn’t get what they wanted doesn’t put that money back in my wallet. They spent that money just like the democrats. I wrote my Senator every week, and he gave me different 3 different responses as to why they opposed the rebate checks including removing tax on social security, healthcare funding, and rebates for households with children. None of those permanent tax cuts would get my money back.

And eliminate the state tax on social security. Didn’t happen either…..

-J.

Once again, those who pay the most in taxes get F’d by Walz and those who pay the least get my money…
Nothing for me, AGAIN.
Just a modern day Robin Hood now isn’t he…

mark-bruzek wrote:

Once again, those who pay the most in taxes get F’d by Walz and those who pay the least get my money…
Nothing for me, AGAIN.
Just a modern day Robin Hood now isn’t he…

^^^^^not only this but they RAISED TAXES.

Will they be taking more of my money and giving it to others that have not busted their a$$?

Jon Jordan wrote:

Is this something we were supposed to apply for?? We are eligible but the first I have heard of it..

No application. You just needed to file a return in the 2021 tax year.

-J.

Thank you Mr Jordan!

More info on the tax credit:

A child and working family tax credit
Despite the smaller rebate checks, lawmakers touted the tax bill’s aim to reduce childhood poverty rates. A recent estimate from Columbia University found that the Legislature’s child tax credit would reduce childhood poverty rates in Minnesota by one-third.

The tax bill includes a child tax credit and a working family credit, which is aimed at low-income families.The size of each depends on income.

The full child tax credit is $1,750 per child, which begins to phase out for married filers who make $35,000 annually and $29,500 for single taxpayers.

According to the Legislature’s nonpartisan staff, here are a few examples of the amounts and income phase outs for the child and working family tax credits:

Married parents with one child under 18:
Maximum combined child and working family credit is $2,100. Minimum credit is $1,750.
Begins to phase out at $35,000 of annual gross income, fully phased out at $52,500.
Married parents with two children under 18:
Maximum combined child and working family credit is $3,850. Minimum credit is $3,500. Begins to phase out at $35,000 annual gross income, fully phased out at $67,083.
Single parent with one child under 18:
Maximum combined child and working family credit is $2,100. Minimum credit is $1,750.
Begins to phase out at $35,000 of annual gross income, fully phased out at $47,000.
Single parent with two children under 18:
Maximum combined child and working family credit is $3,850. Minimum credit is $3,500.
Begins to phase out at $35,000 of annual gross income, fully phased out at $61,583.
Minnesota’s household median income is more than $77,000, which means the big working family and child tax credits — both phasing out well below the median — are an effort to redistribute wealth downward.

House Speaker Melissa Hortman, DFL-Brooklyn Park, said in an interview this merely counteracts an overall tax climate that hits lower income people harder.

“Part of having progressive taxation is making sure that people who can afford to pay more do pay more,” Hortman said. “But the way that our system is currently set up, the wealthiest pay a lower percent of their total income in taxes than middle class people.”

According to a 2021 Minnesota tax incidence study, the poorest 10% of Minnesota households pay a larger share of their income — about 25% — in state and local taxes compared to the wealthiest 10% of Minnesota households, who pay about 12% of their income in state and local taxes. Aside from those two outlying groups, Minnesota’s state and local tax system is mildly progressive, which contrasts with most states’ highly regressive systems.

Is $35k to $60k honestly what they think “Middle Class” is for combined income? If they do, they are not helping middle class at all with this, just the lower class.
That was middle class when I first started working after college like 25 years ago.

I am happy lol. Wife has the summers off and stays at home with the kids during the day. So any little bit helps, I totally surprise by this.

House Speaker Melissa Hortman, DFL-Brooklyn Park, said in an interview this merely counteracts an overall tax climate that hits lower income people harder.

“Part of having progressive taxation is making sure that people who can afford to pay more do pay more,” Hortman said.

“But the way that our system is currently set up, the wealthiest pay a lower percent of their total income in taxes than middle class people.”

1st Highlight – Spoken like a true politician, an extreme liberal politician.

2nd Highlight – Could not be further from the truth.

My favorite quote:

Jon Jordan wrote:

are an effort to redistribute wealth downward.

This is the absolute definition of socialism.

-J.

You can not redistribute wealth downward. You can distribute MONEY downwards, but it will always trickle up. Where do we think most of the COVID funds have ended up? Or will end up eventually?

Clown show politics in Minnesota just like Washington.

CaptainMusky wrote:

Is $35k to $60k honestly what they think “Middle Class” is for combined income? If they do, they are not helping middle class at all with this, just the lower class.
That was middle class when I first started working after college like 25 years ago.

60k is roughly $30 an hour. I’m in my 30’s and have never made that much in my life and don’t know many who have, either. And I know many who make considerably less than that.

B-man wrote:

So those of us who pay in the most don’t get a single cent back?

That makes perfect sense.

I don’t disagree with you. I was only stating what the income thresh hold was.

No rebate here, but I’ll keep checking my account just in case.