Uncle Sam Spoils Dream Trip to Space.

[on-ramp]

wow, this is almost as bad as those "free" Oprah cars.

We live in a country where Uncle Sam wants most of the people poor. If we didn't have to pay taxes, we'd all be rich, aint that the truth.
In addition to federal and state taxes, there are dozens more hidden taxes.

http://www.cnn.com/2007/TECH/space/01/28/free.ride.ap/index.html

Uncle Sam spoils dream trip to space

[Moneyguy1]

Thatis sad. Too bad the winnings did not include the taxes. SOmething like the giveaway of homes. The winner finds out later what a pain in the wallet such a prizer can be!!

[Rick Lee]

Uh, most poor people have no fed. income tax liability. There is a threshold, below which you pay none. So remind me why the gov't. wants us all to be poor.

[Moneyguy1]

Rick...Isn't that just a wee bit cynical?

[Rick Lee]

How is what I wrote at all cynical?

[Moneyguy1]

Ahhh, it's just in my nature to think everyone has a cynical gene somewhere. Some are more developed than others....

Probably, more of a serious note (I hate being serious)....true, the tax code is screwed up. But, I am beginning to think that Adam Smith and the concept of the "invisible hnad" is true. Amazing just how many people are on the brink of financial disaster, teetering on the edge, yet do not fall over. Someone is manipulating the dice!!

[MRM]

Originally posted by Rick Lee
Uh, most poor people have no fed. income tax liability. There is a threshold, below which you pay none. So remind me why the gov't. wants us all to be poor.

Actually, Rick, you are wrong. There is a threshold below which the poor get money rebated to them, regardless of whether they actually earned any income. It's called the earned income tax credit. Single parents below a certain threshold get money back above and beyond any taxes they paid. It is a direct income transfer.

[Rick Lee]

Yes, I know about the EITC. But that's pretty much welfare and not a tax on the poor.

[berettafan]

Originally posted by MRM
Actually, Rick, you are wrong. There is a threshold below which the poor get money rebated to them, regardless of whether they actually earned any income. It's called the earned income tax credit. Single parents below a certain threshold get money back above and beyond any taxes they paid. It is a direct income transfer.

there is nothing incorrect about Rick's statement.

RTFP people!