The democrat lie about bush's tax cuts

Discussion in 'Politics' started by Yurt, Sep 17, 2010.

  1. Yurt
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    Yurt Gold Member

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    only the wealthy benefited from bush's tax cuts.....really?

    Expiring tax cuts hit taxpayers at every level

    WASHINGTON – Here's some pressure for lawmakers: If they don't reach agreement on extending soon-to-expire Bush-era tax cuts, nearly all their constituents back home will get big tax increases.

    A typical family of four with a household income of $50,000 a year would have to pay $2,900 more in taxes in 2011, according to a new analysis by Deloitte Tax LLP, a tax consulting firm. The same family making $100,000 a year would see its taxes rise by $4,500.

    Expiring tax cuts hit taxpayers at every level - Yahoo! News
     
  2. MaggieMae
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    MaggieMae Reality bits

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    What? Here's what the article said: "Under Obama's plan, a family of four making $325,000 a year would get a tax increase of $5,400, while the same family making $1 million a year would get a tax increase of $56,300, according to the analysis by Deloitte Tax." :confused:

    Quite simply, even the upper 2% would immediately be able to take $250,000 off their income, before taxes. Too bad people feel so sorry for them. I sure don't. There was no bitching and moaning in the 90's when the tax rate was set at 39%, which is where it will be dropped back to, ONLY for that top 2%.

    Sorry, I copied the wrong paragraph. However, there is no way a family earning only $50,000 would have their taxes increased by that much. THAT'S what I question.

     
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    Last edited: Sep 17, 2010
  3. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Borrowing $2 Trillion dollars to pay for tax cuts that did nothing to help the economy is crazy

    Wanting to extend these FAILED cuts is pure insanity
     
  4. Yurt
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    Yurt Gold Member

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    not a peep about the fear mongering lie that bush's tax cuts are only for the wealthy....

    facts and the far left like the two posters above mix like oil and water
     
  5. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    No, they were not just for the wealthy.

    But the loss of revenue was primarily due to the wealthy paying taxes at a lower rate. When you have 35% of the wealth concentrated in 1% of the taxpayers, that tax cut is going to help that 1% tremendously
     
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  6. MaggieMae
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    MaggieMae Reality bits

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    In light of this report just issued, you do have to wonder what they DID do with their tax windfalls. Middle class incomes fell between 2001 and 2007.

    Press Releases - Press - U.S. Congress Joint Economic Committee
     
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  7. theDoctorisIn
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    theDoctorisIn Senior Mod Staff Member Senior USMB Moderator

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    I don't remember hearing liberals claim that all of Bush's tax cuts went to the extremely wealthy.

    Just MOST of them.
     
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  8. Flopper
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    Flopper Gold Member

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    At one time, I would have said that there was no way Congress would just allow all the tax cuts to expire. But considering the hatred and the polarization in Congress, it is a possibility although not likely. It would not be the first time nor the last when politicians put party and political philosophies above the good of the people they represent.
     
  9. skookerasbil
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    skookerasbil Gold Member

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    simpleton...........thinks jobs are created in America by people making 40 or 50K:tomato::tomato:
     
  10. Old Rocks
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    Old Rocks Diamond Member

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    Sure, that tax cut really did the middle class a lot of good. Given the depth of the recession, a great many citizens would be glad to pay the extra income tax, if only they had an income to pay it out of.

    However, the very wealthy continue to reap the benefits. For a reduction of income from 2 million to 1 million doesn't affect the food on the table the way a reduction from 50,000 to 25,000 does.

    The Republicans continue to lie about what our President is doing. If his bill passes, those making 50,000 will see no increase in their taxes. You would have to make 250,000 or more to see an increase in your taxes. However, if the Republicans stonewall the legislation, then the taxes revert to where they were at the end of Clinton's terms. So the whole thrust of the Republican campaign on the income tax is for the benefit of the top 2% of the citizens of this nation. And the hell with the other 98%. That work for you, Yurt?
     

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