The political spin is upside down

Discussion in 'Politics' started by JRK, Aug 7, 2011.

  1. JRK

    JRK Senior Member

    Feb 27, 2011
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    The 2007 budget was within 162 billion of a balanced budget
    we borrow that much each month

    Yet the spin is tax breaks and big corporate "give aways" is the reason now
    spending has nothing to do with it

    Its upside down

    GWB tax cuts does more for the poor than your being told

    Overall, the biggest percentage cuts went to the poorest of the poor (those with incomes in the $10,000 range) and the next biggest to those making about $60,000. Surprised? I bet not; you’re wondering about the other cuts – the ones on dividends, capital gains, and inheritance taxes that allegedly skew gains to the rich. Well lets add all those changes in, along with all the other Bush tax breaks such as the child-care tax credit, the earned income tax credit, the AMT, etc.:

    The biggest percentage tax cut—about 17.6 percent—went to taxpayers in the second-lowest quintile, that is to taxpayers with below-average incomes. After that, the size of the tax cut falls off as you move from the lower middle to the middle middle (12.6 percent) to the upper middle class (9.9 percent). It rises again slightly for the top quintile, but only to a little over 11 percent

    Bush’s Tax Cuts for the “Rich” Actually Favor the Poor | AllFinancialMatters

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