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Article #260Re: By the numbers: Who Wins, Who Loses
From: MJ
Date: Thu, 26 Oct 2006 21:30
Date: Thu, 26 Oct 2006 21:30
38 lines
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2849 bytes
Larry Bud wrote: >>BUSH�S TAX CUTS GIVE a 2-child family earning $1 million an extra >>$86,722�or Harvard tuition, room, board, and an iMac G5 for both kids. >> >>A 2-CHILD family earning $50,000 gets $2,050�or 1/5 the cost of public >>college for one kid. > > > Obviously those who pay the majority of the taxes get the majority of > the benefit. If you pay zero in taxes, a tax cut won't affect you. > > The top 1% pay 36.89% of the taxes. The top 50% pay 96.7% of the > taxes. Half of this country is living off the backs of the other half. > > See row 170: > http://www.irs.gov/pub/irs-soi/04in05tr.xls > This is pure fiction. Firstly, there is hardly none that pay NO taxes. Secondly, I'm guessing you are referring to Federal income taxes - but in reality, that's only a portion (perhaps 1/3) of all taxes. In reality, the sweet spot in the US is between 100-150K salary - they tend to pay the least percentage of overall taxes. For a start, they enjoy the benefit of capping their social security taxes, they tend to have the most advantages with respect to mortgage deductions against homes that appreciate in value with little to no taxes on that gain and most will have at least 10k in tax free medical benefits which those <50K generally must pay for using pre tax dollars. Next time, get your facts straight before making such ridiculous claims.
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X-Google-Thread: 10f73f,fa63633239d3a27c X-Google-Thread: 11474a,fa63633239d3a27c X-Google-Thread: 106595,fa63633239d3a27c X-Google-Thread: 107518,fa63633239d3a27c X-Google-Thread: f6c48,fa63633239d3a27c X-Google-Attributes: gid10f73f,gid11474a,gid106595,gid107518,gidf6c48,public X-Google-Language: ENGLISH,CP1252 Path: arc1-ca.pugleaf.net!g2news2.google.com!news4.google.com!news.glorb.com!hwmnpeer01.lga!news.highwinds-media.com!hw-filter.lga!newsfe16.lga.POSTED!53ab2750!not-for-mail From: MJ <mikes_books@cox.net> User-Agent: Mozilla/5.0 (Windows; U; Windows NT 5.1; en-US; rv:1.7.2) Gecko/20040804 Netscape/7.2 (ax) X-Accept-Language: en-us, en MIME-Version: 1.0 Newsgroups: alt.consumers,alt.consumers.experiences,ba.consumers,misc.consumers,misc.consumers.frugal-living Subject: Re: By the numbers: Who Wins, Who Loses References: <bearclaw-59CB83.15303325102006@news.supernews.com> <1161868269.094102.287110@b28g2000cwb.googlegroups.com> In-Reply-To: <1161868269.094102.287110@b28g2000cwb.googlegroups.com> Content-Type: text/plain; charset=windows-1252; format=flowed Content-Transfer-Encoding: 8bit Lines: 38 Message-ID: <0O90h.52000$cb6.8344@newsfe16.lga> Date: Thu, 26 Oct 2006 17:30:36 -0400 NNTP-Posting-Host: 68.1.183.108 X-Complaints-To: admin@cox.net X-Trace: newsfe16.lga 1161898236 68.1.183.108 (Thu, 26 Oct 2006 14:30:36 MST) NNTP-Posting-Date: Thu, 26 Oct 2006 14:30:36 MST Organization: Cox