[quote]skaz05 wrote:
[quote]milktruck wrote:
[quote]skaz05 wrote:
[quote]milktruck wrote:
[quote]Big Banana wrote:
[quote]skaz05 wrote:
[quote]Grneyes wrote:
Let’s see…with 8 years of GWB we went from a surplus to a deficit by giving the top 1% or less of Americans a tax break[/quote]
The “Bush” tax cuts extended to all income earners, not just the “wealthiest 1%”.[/quote]
Your facts don’t belong here. Why do so many brain dead people complain about keeping their money and ignore when Congress wastes incredible sums?[/quote]
Youre right, his facts dont belong because, while technically true, misrepresents the overall picture.
Table 3:
Distribution of Tax-Cut Benefits in 2004
(reflects tax cuts enacted since 2001)
Income Class
Average tax cut
% increase in after-tax income
% share of tax cut
Middle 20 percent
$647
2.3%
8.9%
Top one percent
$34,992
5.3%
24.2%
Over $1 million
$123,592
6.4%
15.3%
Source: Urban-Brookings Tax Policy Center
[/quote]
Meh. I’d rather everyone look at this instead:
http://www.irs.gov/pub/irs-utl/egtrra_law.pdf
You’ll find that including the tax credit increases, phaseouts, and a bunch of other goodies aimed at lower-income taxpayers - the “Bush” tax cuts were quite generous to lower-income taxpayers. And don’t forget that those in the 10 and 15 percent brackets pay no tax on capital gains.[/quote]
Since you read that 114 page pdf why dont you cite wtf you are talking about?
10 and 15 percenters dont benefit from cap gains tax cuts because they own no capital, any cap gains tax cuts are toally a gift to high wealth brackets. The distribution of wealth is even more skewed than income.
You can spin anything, cant you?[/quote]
How is posting the source material “spin”?
You just seem like you want to be angry about something. Just post what’s really on your mind and get it over with.[/quote]
Yeah I am angry the political class is completely captured and destroying the middle class and any semblance of social mobility through regressive taxation. Thought it was obvious.
Posting a 114 page document without citing where the point is is meaningless. I have a professional job and Im a full time grad student, do me the favor I did you and post your stats, I dont have time to read that shit and I dont believe you did anyways. If everything Ive read is wrong and somehow the Bush tax cuts werent a Regan throwback trickle down farce to pander to the wealthiest americans, Id like to know I have been misled.
The spin was your cap gains comment. The poor benefit by not getting taxed on profitable sales of assets they dont have? That is not an advantage.