Vallarta Living | Veteran Affairs | February 2008
|Presidential Election Getting Interesting|
David Lord - PVNN
A new direction for America has never been more apparent since the Viet Nam War Era, and although the Republican front runner John McCain is an honorable Veteran with courage during service as a P.O.W., that in itself is not enough to stem the election fervor and the probability of the Democrats taking the Presidency.
|Republican front runner John McCain|
A new Democratic Socialists Style, with its National Programs will be accomplished in part by the redistribution of income through taxation of Multi National Corporations, and the so-called rich in America.
This is to provide the lower middle class new medical coverage and the economic support necessary to survive the loss of jobs which were shipped out of America. The inevitable election rebuke for N.A.F.T.A., shipping jobs overseas, the failed border protection and the War for the control of the Middle East and Iraq.
The seeking of profits, (oil now $100 per barrel) and jobs for the inside contractors such as Halliburton, also the mercenaries of Blackwater (160,000 security troops) is going to catch up with the men and women of the White House and Corporate America.
President Bush has passed his Presidential Palace over to the Democrats and, in so doing, has opened a Pandora's box of taxation. So let us remember how great Social Programs get turned into massive burdens eating away at the foundations of free market economy. I use the example below to make a point, not to judge any program or its value to Americans.
President Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:
1. That participation in the Program would be completely voluntary.
2. That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the program.
3. That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year.
4. That the money would be put into the Independent 'Trust Fund' rather than into the General Operating Fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other government program.
5. That the annuity payments to the retirees would never be taxed as income, but we are getting taxed on 85% of the money we paid into the fund.
Q: Which Political Party took Social Security from the Independent 'Trust Fund' and put it into the General fund so that Congress could spend it?
A: It was Lyndon Johnson and the Democratically Controlled House and Senate.
Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?
A: The Democratic Party.
Q: Which Political Party started taxing Social Security annuities?
A: The Democratic Party, Al Gore casting the tie-breaking deciding vote as President of the Senate, while he was Vice President of the US.
Q: Which Party decided to start giving payments to immigrants?
A: Jimmy Carter and the Democratic Party. Immigrants at age 65, began to receive Social Security payments, even though they never paid a dime into it.
It is my opinion that we are ready for change, but we should be very careful to protect American's from becoming slaves to taxation. The example below is fully endorsed by both Parties, I wonder how it is paid for.
Stimulus Payments: Instructions for Low-Income Workers, and Recipients of Social Security and Certain Veterans' Benefits
Some low-income workers and recipients of Social Security, certain veterans' benefits may qualify for economic stimulus payments this year from the federal government.
In most cases, payments will range from $300 to $600 for individuals and $600 to $1200 for joint filers. Taxpayers may receive $300 for each qualifying child. Most taxpayers do not need to take any extra steps to receive the payment beginning in early May.
But there are some exceptions. Individuals who might not otherwise be required to file a 2007 tax return will need to file a return this year to receive the stimulus payment. The return must show at least $3,000 in qualifying income.
In other words, low-income workers who had at least $3,000 in earned income in 2007 but do not otherwise earn enough to be required to file a federal tax return need to file a return in order to get the stimulus payment. Likewise, Social Security recipients, veterans.
For purposes of meeting the qualifying income requirement, the following benefits need to be reported: The sum of veterans' disability compensation, pension or survivors' benefits received from the Department of Veterans Affairs in 2007. People are allowed to estimate their annual benefit by taking their monthly annual veterans' benefit, multiplying it by the number of months during the year they received benefits, and entering the number on Line 20a of Form 1040 or Line 14a of the Form 1040A.
Until next week, smooth sailing, Simper Fi.
David Lord served in Vietnam as combat Marine for 1st Battalion 26th Marines, during which time he was severely wounded. He received the Purple Heart and the Presidential Unit Citation for his actions during the war in Vietnam. In Mexico, David now represents all veterans south of the U.S. border all the way to Panama, before the V.A. and the Board of Veterans Appeals. David Lord provides service to veterans at no fee. Veterans are welcome to drop in and discuss claims/benefits to which they are entitled by law at his office located at Bayside Properties, 160 Francisca Rodriguez, call him on his cell: 044 (322) 205-1323, or email him at david.lord(at)yahoo.com.
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