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HIncand3nza t1_j31aroe wrote

Reply to comment by Way2L8AND1 in $450 checks to help Mainers with heating costs expected to be sent starting in mid-January by wheresmycaketester

The cap makes sense in my opinion because it is a tax return where they slapped “heating assistance” on the label. It is fundamentally the same as the check this past summer.

Calling it heating assistance is more to make it seem like the state government is doing something about high heating costs, which they can’t really control.

On a return of taxes the constant amount among the tax brackets most benefits those in the lowest bracket. Someone making 30,000 is getting like 20% of their state taxes back. Whereas someone making 100k is getting roughly 5% of their taxes back.

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Way2L8AND1 t1_j31kmlk wrote

5% of $100,000 is $5,000... 20% of $30,000 is $6,000. What on earth is your weird math equation for again ? So you are saying because someone with $100,000 got back $1000 less than someone with $30000 that means they are equally in need ?
This may be the worst point I've ever heard. Throwing money at inflation does NOT help inflation.

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HIncand3nza t1_j31nheh wrote

Okay so let’s assume your state income tax rate is 7% of your gross income.

If you make $30,000 you would pay $2100 in taxes. If you receive $450 back, you just received 21% of your taxes back. To do the calculation:

0.07 x 30000 = 2100

450/2100=0.21

0.21x100= 21

Now your homework assignment is to repeat that for 100,000

Also your point about people of different incomes not being equally in need of $450 is irrelevant. The state is returning money that both people paid in. It feels nice to say “you make 100k you don’t need $450!”. But consider the other side, “ I make 100k, I paid more taxes than you, so I deserve a larger payout” and suddenly the equal $450 seems very fair

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Diz_McSquirrelz t1_j31yu7w wrote

>Now your homework assignment is to repeat that for 100,000

Savage

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Way2L8AND1 t1_j31o8pw wrote

Ok so now you have completely changed the math equation, and still make no good point.

So... You are saying... Based on this math, That someone making $100,000 a year DOES in fact need $450 in government assistance ? Agreed to disagree. The cap is too high and wasted money. And someone that makes $100,000 and paid in $7000 (your math) does not need a kickback.

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HIncand3nza t1_j31ogv2 wrote

It isn’t government assistance though is it. It is funded by a budget surplus, thus it is basically a tax return

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[deleted] t1_j33iju4 wrote

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Way2L8AND1 t1_j33q86b wrote

Ohhh. So 5% and 7% are the same....

Thanks for clearing that up. So someone making 6 figures ARE in need like someone making 20k.

Are you both using Trump's calculator ?

Hell maybe the cap should be people making under $2.5m ? That $450 may be the saving grace for them.

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[deleted] t1_j33reqi wrote

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Way2L8AND1 t1_j33yi61 wrote

Tell me you still live with your Mom without telling me....... 🙄 Never had a real job right ? Never made over $20k a year. You think the solution to the highest inflation in 40 years is to hand out $$ to couples that make a million dollars every 5 years.

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[deleted] t1_j33z8vm wrote

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Way2L8AND1 t1_j33zlbb wrote

Thank your Mom for paying the bills and sit down. Let her know that thanks to morons like you this inflation will be here to stay.

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