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Wednesday, July 09, 2008

Remember those “Tax Cuts for the Rich”?

Interesting how that worked out:

EXTRA
Political Diary
July 9, 2008

Reviving Redistributionism

New data from the IRS will be out in a few weeks on who pays how much in taxes. My contacts at the Treasury Department tell me that for the first time in decades, and perhaps ever, the richest 1% of tax filers will have paid more than 40% of the income tax burden. The top 50% will account for 97% of all federal income taxes, while the bottom 50% will have paid just 3%.

Interesting.

Somehow those tax cuts for the rich shifted the tax burden such that the top half (by reported income) of all taxpayers paid 97% of the taxes collected.

One suspects we’ve reached the point of diminishing returns with regard to the taxes collected from that top 50% of earners, which means that the real increases to pay for the programs of the democRATs will have to come from somewhere else.

Comments

That’s what Bush did?

And he’s a GOP person?


2mwvv2g.jpg

Sparkie Arbuckle on July 9, 2008 at 02:38 pm
Avatar for HG

To the concerned taxpayer a breakdown of federal income tax does not accurately define the tax burden shared by all.  State income tax, numerous federal, state and local taxes hiding in our utility bills, federal and state fuel taxes, sales tax, development taxes, property tax, and the inumerable list of taxes disguising themselves as “fees” are not to be excluded.

HG on July 9, 2008 at 02:41 pm

sparkless-arse-fuckin-buckle stammers:

That’s what Bush did?

And he’s a GOP person?

Yep.  And you, more than once, joined our other leftards in describing the Bush tax cuts as “Tax Cuts for the Rich.”

HG,

There are indeed a host of other taxes beyond the federal income tax.  One should note, however, that President Bush only has real influence with regards to federal taxes.


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destroyed.”

Rodney Graves on July 9, 2008 at 02:49 pm
Avatar for HG

RG,

True enough.  I left out the federal capital gains tax (it’s hard to remember them all). 

Your point about the leftard chorus is dead on.  These imbiciles have sung that tune without any regard for the fact that it’s not true.  That’s where political speech is at these days, especially on the left… little to offer but talking points which rely on ignorance.

HG on July 9, 2008 at 02:56 pm

randy

you, more than once, joined our other leftards in describing the Bush tax cuts as “Tax Cuts for the Rich.”

back it up. i think you’ll find you’re mistaken. show me where i described it that way.


2mwvv2g.jpg

Sparkie Arbuckle on July 9, 2008 at 03:01 pm

sparkless-arse-fuckin-buckle,

I amend to read “at least once.” and bid you “piss off.”


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destroyed.”

Rodney Graves on July 9, 2008 at 03:35 pm

What is the percentage of income rise in relation to that tax burden? Thats the real question. If the incomes of the top 1% or 50% has risen in accordance with those persons income, then this is a non-issue. This sort of study and those like it from the left are usually just pieces of data meant to enflame, incomplete in that they dont state the info needed to see the real story. Probably, the 1% or 50% has had a signifigant rise in income, while the lower 1/2 has stayed level or dropped after inflation and other factors are accounted for.
Both sides like to use this sort of data. The left is especially good with these sorts of cherry picked data slices. They usually only tell part of the story, just like this one.
Another made up non-issue meant to pit us against each other and distract us.

dragon poker on July 9, 2008 at 03:37 pm

porker,

We’ll have to wait for the full figures to be released to make that comparison.


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destroyed.”

Rodney Graves on July 9, 2008 at 03:42 pm

while the lower 1/2 has stayed level or dropped after inflation and other factors are accounted for.

Overall lower wage earners have improved.

However if you don’t care to hold a job then you’re probably not doing better.

Too flipping bad.


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on July 9, 2008 at 03:56 pm

Overall lower wage earners have improved.

Would like to see the true numbers with all factors taken into account. Maybe true, maybe not. The problem is you cant trust the info cuz somone is always trying to lean it to one side or the other.

dragon poker on July 9, 2008 at 04:19 pm

That’s what Bush did?

And he’s a GOP person?

That’s why you lefties are too dumb to understand the difference between tax cuts and tax rate cuts.
You have been falsely demonizing tax rate cuts for all these years.  Que stupido!

By decreasing the amount of tax oppression on each individual taxpayer, more prosperity is produced, resulting in higher tax revenues to the Treasury.  It’s simple econ, really.


Hope and change, in a free world, are the private possessions of motivated individuals.

robert108 on July 9, 2008 at 06:52 pm
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