Check your own tax increase... you all are probably going to get one. I hesitate to mention that he rate increases for the lowest wage earners will be higher than for anyone else with the rate increasing 50% from 10% of Adjusted Gross Income to 15%.
Yea buddy, the Bush tax cuts were all about the rich weren't they? We tried to point out that the lowest wage earners got a bigger tax cut than anyone else back in 2001 and 2003 but NO... the rats didn't just twist the truth, they ignored it and lied instead by telling just the opposite.
http://www.mytaxburden.org/
For all the idiots who voted for obastard... how you likin' the change now you putz? You idiots have killed us all.
As a small business owner, I have been preparing for an increase since mid-2007 when Charlie Rangel, chairman of ways and means proposed the ‘mother of all tax hikes’.
I guarantee there will be NO increase of revenue with any tax increase.
The fact is the Bush tax cuts were weighted to the low end and thus actually STEEPENED the progressiveness of the income tax. Imagine the boom that would ensue if a tax cut was done right.
Let's not forget the retirees who's main source of income is dividends and capital gains,
but it's only the rich who will be effected </s>
The Bush tax cuts were certainly more effective than Obama’s spending but they were not done in isolation. There was a huge increase in government spending along with the Bush tax cuts and a number of changes to the law that prompted the temporary housing bubble :
1) a change to short capital gains taxes with respect to houses,(flipping)
2) Eliminating a down payment requirement as part of a poor minority home loan program(bad loans high interest rates=temporary profits)
3) Federal reserve artificially low interest rates to banks
The housing bubble in itself temporary increase in employment and tax revenues. That was due to a temporary massive credit expansion of money supply,
It is sad but the supply side argument is lost with most people once you use the name ‘Bush’. A huge success under Bush would have meant no Obama as president.
re: “rats ... lied”
It wasn’t just the rats. Conservatives stupidly lied when telling the truth would have better served their cause.
For example Sean Hannity repeatedly lied and lied and lied about taxes. Then he’d debate Robert Reich and repeatedly embarass himself with the lies. Reich would point out the truth and cause Hannity to back pedal and lose credibility.
The weird thing is that if Hannity had told the truth it would have served the low tax cause better than for him to try to lie.
| Taxpayer by Marital Status, Taxable Income |
Pre-2001 Code | Bush Plan by 2006 | |
| Single, | $0-6,000 | 15% | |
| 10% | |||
| Single, | $6,000-27,050 | 15% | |
| 15% | |||
| Single, | $27,050-65,550 | 28% | |
| 25% | |||
| Single, | $65,550-136,750 | 31% | |
| 25% | |||
| Single, | $136,750-297,350 | 36% | |
| 33% | |||
| Single, | $297,350+ | 39.6% | |
| 33% | |||
| Married, JF | $0-12,000 | 15% | |
| 10% | |||
| Married, JF | $12,000-45,200 | 15% | |
| 15% | |||
| Married, JF | $45,200-109,250 | 28% | |
| 25% | |||
| Married,JF | $109,250-166,500 | 31% | |
| 25% | |||
| Married, JF | $166,500-297,350 | 36% | |
| 33% | |||
| Married, JF | $297,350+ | 39.6% | |
| 33% |
ping