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The debt was paid in 1998... Surplus until 2001... a fact you keep trying to spin and avoid...
Quote:
Originally Posted by HC475
Why?... you're joking right?... WAR spending and tax cuts for the top 2% incomes... That's why the debt went up...
Bush was president in 1998/1999/2000? I dont think so!!!
Try to follow along... We're talking about debt during CLINTON rising, during periods you claim had imaginary surpluses...
Quote:
Originally Posted by HC475
Thanks for your link pointing out that Bush almost TRIPLED the deficit... Thanks George...
Wasnt the topic.. But continue to display ignorance. CONGRESS controls deficits not the president. How old are you? I'd excuse the lack of knowledge if your in middle school.. Surely a grown adult knows these things...
MARGINAL tax rate went up, not the effective tax rate which went down the very years you claimed there was balanced budgets.
Also note, the effective tax rate went UP when Bush cut taxes in 2002. Marginal tax rates are meaningless because no one pays marginal.. You need to look at the effective tax rates for data.
The reason the effective tax rate went up is because the incomes of the very top soared, however the incomes for those in the middle did not.
The reason the effective tax rate went up is because the incomes of the very top soared, however the incomes for those in the middle did not.
The effective tax RATE is a PERCENTAGE, based upon income. Not a sum game.. If their income soared, then the effective tax rate would have went up, as people moved into higher income brackes.
In addition, the effective tax rate went up for EVERYONE.. even the poorest...
The effective tax RATE is a PERCENTAGE, based upon income. Not a sum game.. If their income soared, then the effective tax rate would have went up, as people moved into higher income brackes.
In addition, the effective tax rate went up for EVERYONE.. even the poorest...
nice try but wrong..
The effective tax rate went down for those who earned more under Bush... not for anybody else...
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.
Bush was president in 1998/1999/2000? I dont think so!!!
Try to follow along... We're talking about debt during CLINTON rising, during periods you claim had imaginary surpluses...
Wasnt the topic.. But continue to display ignorance. CONGRESS controls deficits not the president. How old are you? I'd excuse the lack of knowledge if your in middle school.. Surely a grown adult knows these things...
Your constant attempt at a blitz of posts doesn't change the facts... congress may control deficits but Bush created the deficit... your blind supporty of the GOP will get you burned in the end as they let the big banks take your house...
The effective tax rate went down for those who earned more under Bush... not for anybody else...
??????????
It is hopeless "debating" against this guy.
If he contends that no one but the rich recieved a tax cut under Bush, then he surely will not mind if Obama lets those non existent tax cuts for the middle class expire on Jan 1st. Why care? They are just imaginary, after all.
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