Thursday, February 21, 2008

Truth on Tax Cuts

After watching a focus group of democrats that watched the democratic debate the other day in Vegas, I needed to comment. For the most part, all of them bashed Bush over and over again on how he is out for his millionaire friends and the big oil companies and he has totally forgotten or disregarded the little guy. So being an ex-IRS employee, I decided to look back on the tax tables to see if there is any truth to what they said and the media keeps stating as fact, Bush is only out for the rich in this country.

Based on using the actual tax tables (see link below), here are some examples on what the taxes were/are on various amounts of income for both singles and married couples so let's see if the Bush tax cuts only helped the rich.

http://www.taxfoundation.org/publications/show/151.html

Taxes under Clinton 1999
Single making 30K tax $8,400
Single making 50K tax $14,000
Single making 75K tax $23,250
Married making 60K tax $16,800
Married making 75K tax $21,000
Married making 125K tax $38,750

Taxes under Bush 2008
Single making 30K tax $4,500
Single making 50K tax $12,500
Single making 75K tax $18,750
Married making 60K tax $9,000
Married making 75K tax $18,750
Married making 125K tax $31,250

If you want to know just how effective the mainstream media is, it is amazing how many people that fall into the categories above think Bush is hurting them and Bill Clinton was the greatest President ever. If any democrat is elected, all of them say they will repeal the Bush tax cuts and a good portion of the people that fall into the categories above can't wait for it to happen. This is like the movie the Sting with Paul Newman, you scam somebody out of some money and they don't even know what happened. Now this is effective (maybe not honest) marketing or maybe a better description might be brain washing.

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