I thought that the "Bush Tax Cuts" were ONLY for the rich?

[le roi]

not only for the rich, primarily for the rich.

most of this special treatment for capital gains goes straight to the wealthy. Over 50% of all capital gains are taken by one-tenth of 1% of the population.
http://www.forbes.com/sites/robertle...capital-gains/


if you want to help the middle class then you start by cutting the payroll tax.


it should be obvious at this point to everyone that preferentially low capital gains rates do not create jobs, they create inequality.

[skoro]

Originally Posted by alphamale

I'll never forget the democrats whining and complaining for about 8 years about how Bush's tax rates were cuts for the rich. It wasn't until obama had to extend the rates that the dems started whining and complaining that by letting them expire, it would be a tax hike to "the middle class".

That's the kind of misperception one gets from not paying attention.

What changed?

Democrats agree: some of Bush tax cuts should be repealed - Sep. 25, 2003

The Great Bush Recession of 2008.

[freemkt]

Originally Posted by alphamale

I'll never forget the democrats whining and complaining for about 8 years about how Bush's tax rates were cuts for the rich. It wasn't until obama had to extend the rates that the dems started whining and complaining that by letting them expire, it would be a tax hike to "the middle class".

What changed?

Democrats agree: some of Bush tax cuts should be repealed - Sep. 25, 2003

This is one reason why I disagree with both liberals and conservatives. I have NEVER said the Bush Tax Cuts were tax cuts for the rich; for years I have been calling them tax cuts for parents, and a contributing reason why so many Americans aren't paying federal income taxes.

[freemkt]

Originally Posted by ColonelStraker

I am waiting for the Social Security "tax holiday" to expire so that everyone's take home pay is reduced by 3 percent.

Why would everyone's take home pay be reduced by 3 percent?

[dman72]

Originally Posted by freemkt

Why would everyone's take home pay be reduced by 3 percent?

I think it's more like 2 percent.

Look up "payroll tax holiday".

[mateo45]

Originally Posted by dman72

I think it's more like 2 percent.

Look up "payroll tax holiday".

You mean the extension of the 2 percentage point payroll tax deduction, which the Tea Bagger Congress wants to end...?!

"Hey, we gotta kill those deductions that only benefit the working stiff, but don't you dare touch any tax breaks that mainly benefit the wealthy!"