W-2

[Mustang]

No, I'm not referring to the federal tax form which states how much money a person made in a year.

I'm referring to George W. Bush's tax cut plan (W-1), and Mitt Romney's tax cut plan (W-2).

If anyone remembers, when Bush announced his anticipated tax cut plan as president elect, he said that "the vast majority of my tax cuts go to the bottom end of the spectrum." Of course that turned out not to be true. Hell, it wasn't even CLOSE to being true.

And here we go again:

Wealthy would benefit most from Romney planBy NBC’s Domenico Montanaro


The general election is shaping up to be a fight over the middle class. Both President Barack Obama and Mitt Romney, the GOP frontrunner, have continuously argued in speeches that their policies would most help the middle class.


But Romney’s argument took a hit last night, undercut by a detailed analysis by nonpartisan Tax Policy Center that showed Romney’s plan focuses tax cuts on the rich, while cutting taxes marginally for the middle class. It also would effectively raise taxes on those making less than $40,000 a year, the analysis found, when tax cuts put in place by Obama would be allowed to expire.


"If I'm going to use precious dollars to reduce taxes, I want to focus on where the people are hurting the most, and that's the middle class," Romney said at an Oct. 11 debate. “"I'm not worried about rich people. They are doing just fine. The very poor have a safety net; they're taken care of. But the people in the middle, the hard-working Americans, are the people who need a break. And that is why I focused my tax cut right there."


On Oct. 5, he said the middle class was a victim of “friendly fire” from Obama, who contends he is a “warrior for the middle class.” “If that's the case, I think there has been a severe case of friendly fire,” Romney said. “Because he has not done what the middle class of America needs to have a prosperous and bright future. In fact almost everything he did has hurt the middle class."


But those are increasingly difficult arguments to make when, under Romney’s plan, those making more than $1 million a year would see a tax cut of about $146,000, a 6.9 perent change in after-tax income, while those making between $50,000 and $75,000 would see just an average tax cut of about $250, just a 3.3 percent change, according to the center’s analysis.


In fact, not only is the amount of after-tax income greater the higher the income level, but the percent change also increases the more money someone makes.

First Read - Wealthy would benefit most from Romney plan

I'm sure everyone recalls the old saying about being fooled more than once and who's fault it is if and when it actually happens a second time.

 

[WatertheTree]

George Bush was a fucking liar. However his platform is close to Ron Pauls. Difference is Ron Paul has 20 some years of reliable voting to back up his position.

And they say Ron Paul is unelectable. My ass.