Posted on 09/18/2010 2:32:01 PM PDT by Sub-Driver
AP Shocker: Bush Tax Cuts Didn't Just Help The Rich By Noel Sheppard Created 09/18/2010 - 17:13
For almost ten years, the Bush tax cuts have been depicted by media as only helping rich people.
Now, with them set to expire, and a Democrat in the White House desperately needing a stronger economy to help him and his Party's political fortunes, the Associated Press is telling readers the truth with the following headline:
Expiring Tax Cuts Hit Taxpayers at Every Level
If you think that's amazing, wait until you see the contents [1]:
A typical family of four with a household income of $50,000 a year would have to pay $2,900 more in taxes in 2011, according to a new analysis by Deloitte Tax LLP, a tax consulting firm. The same family making $100,000 a year would see its taxes rise by $4,500.
Wealthier families face even bigger tax hikes. A family of four making $500,000 a year would pay $10,800 more in taxes. The same family making $1 million a year would get a tax increase of $53,200.
The estimates are based on total household income, including wages, capital gains and qualified dividends. The estimated tax bills take into account typical deductions at each income level.
Okay, so putting this in reverse, doesn't that mean that when these tax cuts were first implemented - you know, when that awful Republican named George W. Bush was president! - a typical family of four with a household income of $50,000 a year saved $2,900 per annum as a result? And a family making $100,000 a year saved $4,500?
Gosh, that means these tax cuts weren't just for the rich as virtually every media outlet in America has been claiming since they were first proposed.
Makes you wonder how such organizations can stay in business when they do such a terrible job.
Who gets hit hardest, the family coughing up the money on $50K a year, or the family at $1 million? Only the constant propaganda from the press keeps these Marxists in power.
I simply love when the lamestream libtard media has to eat crow..... =.=
bump
What the AP didn’t say was that we need a whole new government, top to bottom. Pick 545 names at random from 545 phone books and you would probably get a better job done. Not all of the ones in office are bad but 90 percent give the others a bad name. YMMV
Well, if they decide to extend the Bush tax cuts, under heavy pressure, as I certainly hope they will, Nancy Pelosi is already planning to call it the Obama Tax cut for working families, or something similar.
Just like Obama and Biden are saying that they have just won the Iraq War. Unless things should happen to go wrong, in which case it will revert to being called Bush’s war.
DUH!!!!!!
William Buckley once said “I would rather be governed by the first 2000 names in the Boston phone book than by the Harvard faculty.”
We all know this and knew it when the tax cuts were implemented. I wish the Republicans would talk more about it especially when they jump on Boehner. Instead I hear Axelrod saying Obama gave a tax cut to 95% of Americans which is a ______ lie. The only thing that scum bag did was have your withholding changed but the tax the huge $13.00 per week was charged to you when you had to pay your taxes.
$13.00 a week is a joke and it wasnt even a tax cut you still owed it. When the tax rates go up my family will be paying about $700.00 more a month in taxes and we are well below $250K. I hate Obama and all his lying minions this is all I can say without getting in trouble for saying bad words. He makes me sick and I wish people would smarten up or move to Europe
They already are under the logic(???) that since they were expiring, we (the RATs) had to re-implement them.
I don’t think they’re eating crow, just trying to keep some of their own money.
AP and the rest didn’t get it right in ‘01 or ‘03 and don’t have it right now. Twist and lie is all they do.
These people make me puke with the way they manipulate numbers. As a PERCENTAGE of total tax rate or total taxes paid the lower income people got a much better tax cut and will have a much HIGHER tax increase than anyone else.
The “wealthy” got a lower percentage decrease in taxes back in ‘01 and ‘03 but of course the dimwits and the press worked on absolute dollar amounts of decrease to bend the thing their way.
That, in itself, is HUGE news. The Indians are wandering off the reservation...
Bodes ill for Bambi, don't you think?
You're absolutely right, Jess.
GW could make me spit nails, but at the end of the day, I knew that he would get my back in a fight. Damn, I miss that misguided, but most loyal American President.
Last year’s taxes was the first time in over 13 years of working (since I was a teen) that I actually owed money. And guess what I am way below the 50,000 a year mark alone. Thanks Obama you saved me 13 a week but I had to pay it back. Good job. Maybe I should start making babies instead......kidding of course I wouldn’t want to screw my seed over.
Roger That!!!
I agree, but we need to make sure all their staff and their lobbyists leave too.
Calculate your new taxes here:
I’m no where near Obama’s ceiling of $200,000, but I’ll owe at least $2,000 more.
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