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onethatcares

(16,167 posts) Mon Oct 13, 2014, 06:15 PM Oct 2014

the Bush tax cuts, did they

include a rise in FICA and SS deductions for the lower income earners?

2 replies

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the Bush tax cuts, did they (Original Post) onethatcares Oct 2014 OP

No raise. Just 2 percent reduction for a few years. Everyone got it. yeoman6987 Oct 2014 #1

And when part of a stimulus package, Igel Oct 2014 #2

yeoman6987

(14,449 posts)

1. No raise. Just 2 percent reduction for a few years. Everyone got it.

Reply to onethatcares (Original post)

Mon Oct 13, 2014, 06:17 PM

Oct 2014

Igel

(35,300 posts)

2. And when part of a stimulus package,

Reply to onethatcares (Original post)

Mon Oct 13, 2014, 07:28 PM

Oct 2014

typically also included refundable tax credits or a one-time payment.

It was an income tax reduction because there was an income tax surplus. The thinking was similar to what happens if you find that a cashier overcharges you at a store. You go in to get a refund or credit towards a future purchase. You don't expect the cashier to say, "Oh, I overcharged you $5. So since there are 5 people in line, you all get $1."

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