Originally posted by mbSVT:
Hot DAMN this is gonna be fun...

Originally posted by FlechaAutoSports:

"The top 1 percent of taxpayers, making $373,000 or more a year, will reap almost 38 percent of all the benefits in President George W. Bush?s millionaire tax cut...The bottom 60 percent of taxpayers will get about 14 percent of the benefits, while those in the bottom 20 percent will see just 1 percent of the tax benefit, according to Citizens for Tax Justice.




I give you, not the "Citizens for Tax Justice" (whatever the hell that is), but rather the "United States House of Representatives" (I'm sure you've heard of it)

http://www.house.gov/jec/press/2002/10-24-02.htm

Which states that the top 1% of taxpayers, which make $313,469/yr or more pay 37.42% of all Federal Personal Income Tax. Gee... sounds a lot like "almost 38% of the benefits of the tax cut" doesn't it?? Wonder why??

:


OWNED..by common sence.
I have been looking for that link...I knew that the top 1% of earners pay about 40% (I guess its 37.42%) of the tax
Top 10% pay about 60%
Top 50% pay >90% but I did not know where to find it documented.
So yes, tax relief benefits the wealthy (defined here as being in the upper 50% of income) because they pay virtually ALL the taxes....And yes, it doesnt do much for the bottom 20% because they are paying no or negligable taxes (actually more likely to be recieving tax money). Democrats make it sound like a CRIME to take less money from the wealthy (tax cuts are not a gift, they are infact the removal of a penalty)..

And the extra, relevent point about Bush's tax cuts at a critical point in the recession is that the weathy may create jobs with there money..they are not REQUIRED TO, they may be OVERSEAS, but they may also be in the US. Clearly, you can the poor will not create any jobs, refund or no. I hate to think how much whinning about unemployment would be occuring now if the tax cuts were NOT implimented or as Kerry wanted to do..only to the poor...


edit: I see JaTo said the same thing at the same time but my version is the "Cliff NOTES"


Last edited by Dan Nixon; 04/21/04 11:04 PM.
1999 Amazon Green SVT Contour (#554/2760) "People demand freedom of speech as a compensation for the freedom of thought which they seldom use." -Soren Kierkegaard (as posted by Jato)