Under the current Bush plan where they say he "gave all the tax breaks to the rich" you have the following scenario:
Family of 4 making $40,000 pays $512 in taxes.
Family of 4 making $250,000 pays over $55,000 in taxes.
How can anyone see that as the rich or wealthy or high income earner getting "all the breaks" when they pay ALL the tax and the other family basically pays none??!!
And Obama wants the $40,000 income family to pay LESS???
(Even though they contribute essentially NOTHING now)
And Obama wants the higher income family to pay MORE???
(Even though their tax bill is already OVER 100 TIMES more than that of the other family)
Isn't that socialism?????
Update:For those who doubt my figures, here is the math behind it straight from the 2008 tax tables:
$40,000 income minus $10,900 standard deduction minus $7,000 personal exemptions equals $22,100 taxable income. First $16,050 taxed at 10% then remaining $6050 taxed at 15% equals $2512 in taxes, subtract two $1000 child tax credits and you are left with a $512 tax bill.
Higher income family does not even hit the highest tax bracket but does get to 33% bracket. They lose some of their exemptions too. And no child tax credits for them, even though they also have 2 kids. Their tax is $44,828 plus 33% of taxable income over $200,300 which works out to over $55,000 in taxes.
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Exactly.
I can't figure out why they don't understand that either.
I guess a lot of them think- hey, they're rich, they can afford it.
Ludwig- You think the economy is bad now? Wait until Obama drills into further into the ground.
Small businesses + higher taxes= more job lay offs
Big businesses + higher taxes= higher prices on consumer goods.
The value of the dollar will plummet even more.
Oh and one more thing- WE WEREN'T IN A WAR WHEN THE CLINTON WAS IN! Every time the U.S. has been in a war the economy took a turn for the worse.
How about Bush borrowing more money in four years than all previous 42 presidents COMBINED? Over a trillion dollars that we didn't really have, spent! Dems aren't the only ones who need to look into their fiscal policies.
yeah and I guess the numbers when our last Democratic President was in charge are all false too?? Hmmmmmm what a stupid statement from someone who obviously doesn't know how to interpret the numbers..
Just what this country needs another 4 years of the Republican Party's ignorance....
PERS0NALLY i didn't and STiLL don't care for the views of either candidate as of now, but as an american i am going to vote!
i didnt want to vote for either, but honestly iam at a point where since B0TH candidates are promising the world to us whoever wins BETTER make some type of change to this economy! i'm afraid to bring a child into this world because of our horibble economy!
someone better step up with some type of gameplan to try and fix Bush's mistakes and honestly i could care less who it is as long as it's done and done FAiRLY....that is!
1. What your sources for this information?
2. What does the economy look like now under a Republican White House? And what did it look like in the late 90's under Democrats?
LETS KEEP THE REPUBLICAN WAY THEN...oh boy we all know how well they are doing!!!! LOL go home son and look again.
Thanks for taking the time to break this down to them. But they still won't get it.