edthecynic
Censored for Cynicism
- Oct 20, 2008
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No offense, but you posted only one year, 2008 which was the very lowest income that would produce a $2,600 saving. Elvis said he saved $2,600 EVERY year of Bush's 8 years so he had to average over $100k for the 8 years AND he had to have a DECLINING income each and every one of the GREAT Bush economic boom years.Wrong. I didn't make 100k a year. Sorry.
Using your calculator, a married couple filing jointly with a taxable income of $400k in 2000, Clinton's last tax year, paid $131,068 in taxes. After Bush's first tax cut in 2001 the same couple paid $128,443 or about $2,600 less.Here's a link to an income tax calculator that you can adjust year, income, and filing status to determine your tax payment.
Elvis' numbers don't seem unreasonable to me.
A married couple filing jointly with a taxable income of 70k in 2002 paid $12,696.
The same return in 2008 paid $10,188 or about $2400 less.
So if he makes in that neighborhood $2600 a year seems about right.
In 2002 an income of $300k saved $2,600. After Bush's 2003 tax cut an income of $120k saved $2,600. In 2004 $115k saved $2,600. 2005 - $110k, 2006 - $100k, 2007 - $85k, 2008 - $77k for an average income of over $160k for Bush's 8 years to average a $2,600 savings each year. Even if you drop Bush's first 2 years and use only 2003 to 2008 as you did it averages $102k, so I was in the ballpark with my over $100k figure all along.
Ed, you were wrong to call Elvis a liar or a cheat based on what he said. The numbers I posted prove that.