[DMCForum] Re: Bush (Vote for handouts/tax breaks)
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[DMCForum] Re: Bush (Vote for handouts/tax breaks)



Unemployment is income, the discussion is whether such income is
taxable or not, that is: is the beneficiary entitled to a deduction,
some sort of tax break?
According to the IRS code and regulation sec. 85 (a) In case of an
individual , gross income includes unemployment compansation.
(b) For purposes of this section, the term "unemployment
compensation" menas any amount received under a law of the U.S. or of
a State which is in the nature of unemployment compensation.

Last, but not least. Sec. 61 of the same code:

(a) Except as otherwise for purposes of this subtitle, gross income
means all income from whatever source derived...


Unemployment is not an exception, therefore, it is income!

Flavia- NJ

--- In DMCForum@xxxxxxxxxxxxxxx, "Katon, Robert" <robert.katon@xxxx>
wrote:
> Unemployment is not an income, it's an entitlement which is funded
by
> money that was already taxed once.
>
>       -----Original Message-----
>       From: Flavia [mailto:frvianna@xxxx]
>       Sent: Tuesday, August 03, 2004 11:07 AM
>       To: DMCForum@xxxxxxxxxxxxxxx
>       Subject: [DMCForum] Re: Bush (Vote for handouts/tax breaks)
>      
>      
>       unemployment is still an income, it's only fair that there is
a
> break
>       for it. Why the do the people that receive unemployment still
> ahve to
>       pay taxes on such income? I just think it makes sense.
>       --- In DMCForum@xxxxxxxxxxxxxxx, "Katon, Robert"
> <robert.katon@xxxx>
>       wrote:
>       > People who can't feed themselves don't pay taxes, therefore,
> no
>       break is
>       > required. 
>       >
>       >       -----Original Message-----
>       >       From: Marc Levy [mailto:malevy_nj@xxxx]
>       >       Sent: Tuesday, August 03, 2004 7:16 AM
>       >       To: DMCForum@xxxxxxxxxxxxxxx
>       >       Subject: Re: [DMCForum] Re: Bush (Vote for
handouts/tax
>       breaks)
>       >      
>       >      
>       >       How does a tax break help someone that cant feed
>       >       themselves?  Likley, they dont may much (if any) tax..
>       >       so they will get no tax break!
>       >      
>       >       BTW, I am against social programs and handouts.  Even
>       >       Social Security is a bad idea. (IMHO)
>       >      
>       >      
>       >       --- cruznmd <racuti1@xxxx> wrote:
>       >      
>       >       > The difference is:
>       >       >
>       >       > A handout makes you dependent on the gov't to feed
>       >       > you. "On the dole"
>       >       > as the Europeans say.
>       >       >
>       >       > A tax break enables you to feed yourself, take care
>       >       > of yourself.
>       >       <SNIP>
>       >      
>       >      
>       >      
>       >                  
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