Repeal the Bush Tax Cuts?

Think for a minute about what the liberals want to do with their Health Care and other tax-and-spend social restructuring of this country. I received this information from a good friend who is also a tax accountant, and it's very interesting.

It is amazing that people don't understand this and just accept what the Democrats and the media are saying without checking it for themselves!

Based on using the actual tax tables (see link below), here are some examples of 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, as the Democrats loudly proclaim.

Taxes under Clinton 1999 vs. Taxes under Bush 2008

Single making $30K - tax $8,400 vs. $4,500

Single making $50K - tax $14,000 vs. $12,500

Single making $75K - tax $23,250 vs. $18,750

Married making $60K - tax $16,800 vs. $9,000

Married making $75K - tax $21,000 vs. $18,750

Married making $125K - tax $38,750 vs. $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 screwing 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 can scam somebody out of money and they don't even know what happened.

Remember this when you VOTE!

And remind all your family, friends, co-workers, enemies, etc, etc.

Editor's note: Please click on comments below for a correction to the calculations above.

Comments for Repeal the Bush Tax Cuts?

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Premise is Correct, Numbers are Wrong
by: Janet, Editor

The writer above bases his calculations on tax tables published by the Tax Foundation, at the link given.

On their blog for February 19, 2008, the Tax Foundation published a correction of the figures above, saying:

"While the basic message of the comparison is correct (federal income taxes have indeed fallen under George Bush at all points on the income spectrum), the chart created by the author of this comparison contains some mathematical errors.

"Furthermore, the comparisons are exaggerated by the fact that annual inflation adjustments in the tax code would have lowered tax bills in 2008 relative to 1999 under [the same] income amount."

For the corrected figures, and other interesting information regarding taxes and tax cuts, go to the Tax Foundation's Tax Policy Blog.

Why Not Be Fair?
by: Joe Pegasus

Right off, I really wish you (and everyone else) would get your facts straight and, even better than STRAIGHT - honest. Obama has no intentions of "raising" taxes on those earning over 200,000 per year - go see the gov's website to prove what I say.

Secondly, everyone I know making over 200,000 don't need the money. Not one of them. Of the 13 people I am familiar with only 2 are in business and both of them claim they haven't ever paid taxes out of their pocket - the "biz covered it all."

Thirdly, I earn 23,000 a year for the last 4 years. I do not feel like I'm hurting - but I don't have med insurance or go out to eat or travel much. But I own 10 acres without mortgage and live in Sumter forest - doesn't costs much to live here. Still, I wouldn't turn down more income. Although any increase would likely go to White's Hardware Store, Food Lion and Kelly's Saw Shop. Especially to the saw shop.

So, here's my challenge to all you who claim the rich shouldn't be hampered with another tax increase on the merits that they will NOT create jobs for us poor folk: How about we let the tax break die but take that money and give it to the poor who will spend it in a heart beat?

Joe, surely you don't believe what a candidate promises in an election campaign, do you? If so, I invite you to come back here in 4 years, and see if Obama kept your trust, or if you find he didn't do such a good job of keeping those campaign promises.

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