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The OPs thread title, "Republicans LIE."
Inflammatory per usual. But all I have to say is wait. Just wait.
Wait till you see what Obama and his merry men do. If they have their way that is. If you think your taxes have gone down. Just wait. And we will see who lies! lol.
For most people, these higher rates are moot. They only apply to the highest of flyers. Fewer than 1% currently pay the 35% rate and fewer than 4% even pay 33%, says the IRS. As for the old 39.6% rate: Adjusted for inflation, you'd only pay that now on any income over $363,000 a year.
What's funny is that this WSJ piece to which you keep referring was written to do exactly the opposite of what you are doing with it; to show everyone the effect the tax increase will have on average people instead of the headline grabbing uber wealthy. Because your keyboard appears to stop working as soon as you post that bit about the super wealthy, I'll post the very next paragraph from that article, so that everyone can see the part that actually affects them;
Quote:
Most ordinary people these days are paying a marginal rate of 15% or 25%. If we let the tax cuts expire, that might rise for many to 28%. Based on data supplied by the AICPA these ordinary folks would take a tax bump of anywhere between a few hundred and a few thousand dollars.
For a typical single filer with adjusted gross income of around $40,000 it might be about $400 a year.
For someone on $80,000, about $1,600.
What's funny is that this WSJ piece to which you keep referring was written to do exactly the opposite of what you are doing with it; to show everyone the effect the tax increase will have on average people instead of the headline grabbing uber wealthy. Because your keyboard appears to stop working as soon as you post that bit about the super wealthy, I'll post the very next paragraph from that article, so that everyone can see the part that actually affects them;
There are no particulars in that speculative right wing spin part of the article:
Quote:
Originally Posted by Bill Keegan
Most ordinary people these days are paying a marginal rate of 15% or 25%. If we let the tax cuts expire, THAT MIGHT rise for many to 28%. Based on data supplied by the AICPA
Face it... Unless you are in the super wealthy top 2%... Which I doubt... You taxes will go down...
There are no particulars in that speculative right wing spin part of the article:
Face it... Unless you are in the super wealthy top 2%... Which I doubt... You taxes will go down...
Are you really missing this, or are you just pretending to?
The piece talks about what happens if the current tax rates are allowed to revert back to the pre-Bush levels. If that happens, and unless some action is taken to prevent it, that WILL happen, taxes go up for EVERYONE who pays taxes. Not just the top 2%. EVERYONE.
You're correct in that I am not in the top 2%. And I do not want my taxes to increase. Therefore, I want the current rates to be extended. And yes, I am perfectly OK with the current rate being extended for the top 2% as well.
Are you really missing this, or are you just pretending to?
The piece talks about what happens if the current tax rates are allowed to revert back to the pre-Bush levels. If that happens, and unless some action is taken to prevent it, that WILL happen, taxes go up for EVERYONE who pays taxes. Not just the top 2%. EVERYONE.
You're correct in that I am not in the top 2%. And I do not want my taxes to increase. Therefore, I want the current rates to be extended. And yes, I am perfectly OK with the current rate being extended for the top 2% as well.
Wrong... the article only speculates that the lower tier tax rates will go up... pure right wing propoganda... nothing more...
Wrong... the article only speculates that the lower tier tax rates will go up... pure right wing propoganda... nothing more...
You must be blind, or unable to read. IF NOTHING IS DONE TO EXTEND THE CURRENT TAX RATE, ALL FEDERAL INCOME TAX RATES WILL INCREASE. It's not speculation, it's not right wing spin, it's a FACT.
I think that you are very aware of this, and that you WANT to continue posting your moronic drivel. Everyone here knows this to be true, whether the left who wants to extend the current rate for most people, or the right who prefers to extend them for everyone. Time for you to stop being obstinate. It's just making you look uninformed, or worse, intentionally deceptive.
You must be blind, or unable to read. IF NOTHING IS DONE TO EXTEND THE CURRENT TAX RATE, ALL FEDERAL INCOME TAX RATES WILL INCREASE. It's not speculation, it's not right wing spin, it's a FACT.
I think that you are very aware of this, and that you WANT to continue posting your moronic drivel. Everyone here knows this to be true, whether the left who wants to extend the current rate for most people, or the right who prefers to extend them for everyone. Time for you to stop being obstinate. It's just making you look uninformed, or worse, intentionally deceptive.
Nice try... now go back and re-read the OP... if you did... then you wouldn't be here right now...
In short, no matter how one slices the data, the Tea Party crowd appears to believe that federal taxes are very considerably higher than they actually are, whether referring to total taxes as a share of GDP or in terms of the taxes paid by a typical family.
Tea Partyers also seem to have a very distorted view of the direction of federal taxes.
They were asked whether they are higher, lower or the same as when Barack Obama was inaugurated last year.
More than two-thirds thought that taxes are higher today, and only 4% thought they were lower; the rest said they are the same.
Federal taxes are very considerably lower by every measure since Obama became president. And given the economic circumstances, it's hard to imagine that a tax increase would have been enacted last year. In fact, 40% of Obama's stimulus package involved tax cuts. These include the Making Work Pay Credit, which reduces federal taxes for all taxpayers with incomes below $75,000 by between $400 and $800.
According to the JCT, last year's $787 billion stimulus bill, enacted with no Republican support, reduced federal taxes by almost $100 billion in 2009 and another $222 billion this year.
The Tax Policy Center, a private research group, estimates that close to 90% of all taxpayers got a tax cut last year and almost 100% of those in the $50,000 income range.
For those making between $40,000 and $50,000, the average tax cut was $472; for those making between $50,000 and $75,000, the tax cut averaged $522. No taxpayer anywhere in the country had his or her taxes increased as a consequence of Obama's policies.
It's hard to explain this divergence between perception and reality. Perhaps these people haven't calculated their tax returns for 2009 yet and simply don't know what they owe. Or perhaps they just assume that because a Democrat is president that taxes must have gone up, because that's what Republicans say that Democrats always do. In fact, there hasn't been a federal tax increase of any significance in this country since 1993.
UE in 2008 was actually 7.2% but I'm also counting the Underemployed... Either way it pretty much doubled under the GOP watch under Bush from 2001 to 2009... So there's your math...
Using your fuzzy math: From 2009 - current Obama doubled the highest UE, including the underemployed, rate under all of Bush's 8 years in office.
In short, no matter how one slices the data, the Tea Party crowd appears to believe that federal taxes are very considerably higher than they actually are, whether referring to total taxes as a share of GDP or in terms of the taxes paid by a typical family.
Tea Partyers also seem to have a very distorted view of the direction of federal taxes.
They were asked whether they are higher, lower or the same as when Barack Obama was inaugurated last year.
More than two-thirds thought that taxes are higher today, and only 4% thought they were lower; the rest said they are the same.
Federal taxes are very considerably lower by every measure since Obama became president. And given the economic circumstances, it's hard to imagine that a tax increase would have been enacted last year. In fact, 40% of Obama's stimulus package involved tax cuts. These include the Making Work Pay Credit, which reduces federal taxes for all taxpayers with incomes below $75,000 by between $400 and $800.
According to the JCT, last year's $787 billion stimulus bill, enacted with no Republican support, reduced federal taxes by almost $100 billion in 2009 and another $222 billion this year.
The Tax Policy Center, a private research group, estimates that close to 90% of all taxpayers got a tax cut last year and almost 100% of those in the $50,000 income range.
For those making between $40,000 and $50,000, the average tax cut was $472; for those making between $50,000 and $75,000, the tax cut averaged $522. No taxpayer anywhere in the country had his or her taxes increased as a consequence of Obama's policies.
It's hard to explain this divergence between perception and reality. Perhaps these people haven't calculated their tax returns for 2009 yet and simply don't know what they owe. Or perhaps they just assume that because a Democrat is president that taxes must have gone up, because that's what Republicans say that Democrats always do. In fact, there hasn't been a federal tax increase of any significance in this country since 1993.
Quote:
Originally Posted by BigJon3475
Using your fuzzy math: From 2009 - current Obama doubled the highest UE, including the underemployed, rate under all of Bush's 8 years in office.
Wrong... Obama wasn't inaugurated until January 2009... Unemployment went up as a result of the severe downturn in Q4 2008...
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