Democrats say no tax refunds unless debt ceiling raised.!!

[DigitalDrifter]

I can just see the campaign ads now........................

"Hey mom and pop America, the Dimocrat party has already fucked up your healthcare, and now when you most could use the extra money for your new overpriced policy, they want to keep your tax refund !"

 

[bigrebnc1775]

Democrats want to raise it again? I thought when the republicans caved the first and second time it was the last time.
Hell no this should not be allowed, when will the madness stop?

 

[Dont Taz Me Bro]

Democrats want to raise it again? I thought when the republicans caved the first and second time it was the last time.

Why would you think that? When have the Republicans ever not raised the debt ceiling?

 

[hazlnut]

Another pathetic scare tactic from the dems. Why can't democrats reduce spending.? That's the proper way to stay under the current debt ceiling.

Congressional Democrats Warn Boehner of Tax Refund Delay if Debt Ceiling Isn t Lifted


(FEBRUARY 3, 2014)

Democrats on the tax-writing House Ways and Means Committee have written to Speaker of the House John Boehner, R-Ohio, urging him to introduce legislation to raise the debt ceiling without pre-conditions, warning that the Treasury Department would not be able to pay tax refunds without a higher debt limit.

In announcing their letter to Boehner on Monday, they noted that the two-week government shutdown last October had delayed the start of tax season until last Friday. They pointed out that last year, 110 million taxpayers received tax refunds averaging $2,700, and nearly half those refunds were claimed by March 1. However, they complained that House Republicans are again threatening not to raise the debt ceiling unless certain demands are met, and that would risk the Treasury's ability to pay timely tax refunds for American families. In the absence of an increase in the debt ceiling, they noted, tax refunds can only be paid as money is received by the Treasury.

“Failure to act quickly will endanger our economic recovery and send a signal to American taxpayers that their refunds may be in jeopardy, potentially raising unnecessary panic among families awaiting their tax refunds,” all 16 Democrats on the Ways and Means Committee wrote to Speaker Boehner.

“President Obama and Congressional Democrats have been clear: we will not negotiate over the full faith and credit of the United States,” they wrote in the letter. “Past Republican default threats rattled our economy and cost Americans hundreds of billions of dollars in lost retirement savings, increased the cost of owning a home, and cost us hundreds of thousands of desperately needed jobs. Let’s not add delaying tax refunds to the list. We look forward to working with you to protect American taxpayers.”

What a pathetically dishonest thread title.

The Dems didn't threaten anything they just pointed out the unintended consequences.

 

[bigrebnc1775]

Democrats want to raise it again? I thought when the republicans caved the first and second time it was the last time.

Why would you think that? When have the Republicans ever not raised the debt ceiling?

Didn't obama bitch about it when he was a senator?

 

[Duped]

Democrats want to raise it again? I thought when the republicans caved the first and second time it was the last time.

Why would you think that? When have the Republicans ever not raised the debt ceiling?

Didn't obama bitch about it when he was a senator?

Yes, but he has transmuted!

 

[The Professor]

Democrats say no tax refunds unless debt ceiling raised.!!

Nice twisting of the truth. Delay isn't NO REFUNDS. And the cons couldn't care less, because the rich don't get refunds. They don't even file until April 15th to PAY their taxes. And they usually file for extensions to delay paying their share.

Most rich people will pay their taxes on time, the same as the rest of us. They know there are penalties for not paying taxes on the due date (generally April 15).

“What Is the Penalty for Paying Late?

“If you do not pay the full amount you owe by the tax deadline, even if you file an extension, you will be assessed a penalty of 0.5% of your balance due per month. The amount of your failure-to-pay penalty will not exceed 25% of your back taxes.

“If you do not pay your full balance due, you will also owe interest on the unpaid amount. The interest rate is set quarterly by the federal government. The current 2013 interest rate for underpayment of taxes is 3%.”

When or when not IRS Penalties apply for not filing a return or paying taxes are listed here.

In fact, there are even penalties for some of those those who pay all the taxes owed by the normal filing deadline of April 15. Some people are supposed to make quarterly tax payments throughout the year (Estimated Tax Payments) to make sure they “pay as they earn.”

The tax system is complicated but one of the objectives of the system is to make sure everyone pays their taxes as their income is earned and all taxes are paid by the filing deadline (April 15).

I just want to make sure that everyone on this forum knows you can get an extension to FILE your taxes, but you cannot get an extension to PAY your taxes. If you don't pay on time it will cost you.