[MakoMike]

Taxes under Clinton 1999...............Taxes under Bush 2008

Single making 30K - tax $8,400.........Single making 30K - tax $4,500

Single making 50K - tax $14,000.......Single making 50K - tax $12,500

Single making 75K - tax $23,250.......Single making 75K - tax $18,750

Married making 60K - tax $16,800.......Married making 60K- tax $9,000

Married making 75K - tax $21,000.....Married making 75K - tax $18,750

Married making 125K - tax $38,750...Married making 125K - tax $31,250

 

[654999]

Seems like we are taxed by the Democrats to pay for the wars Republicans drag us into.

 

[AZFISHKILLER]

SUFFOCATION wrote:
Seems like we are taxed by the Democrats to pay for the wars Republicans drag us into.

This could require some popcorn. Ohhh boy.

 

[likeitreallyis]

Um... Democrats = SURPLUS

Rebublicans = RECORD Deficit that our kids have to pay.

Democrats = cash in the bank.
Republicans = credit card debt.

Republicans: Half of ALL TAX CUTS by 2010 to richest 1%, other half goes to the rest of us 99%

Are we better off today than we were 8 years ago? Imagine if Gore won (he did get more votes than Bush remember?) Surplus and no Iraq war maybe? hmmm I wonder...

 

[likeitreallyis]

and let's not forget, Mike, average US salaries being driven DOWN..(globalization, the world is poor so we have to be too)..

Except for the richest.. thier salaries are going up at a record pace, the gap between rich and poor widens by the minute..


So let's make our kids pay for today's fun and games for the rich..

 

[Slacker]

I don't want to get into the whole percentages thing, but one thing I feel strongly about is that if they were going to cut anything, they should have started with the Alternative Minimum Tax. The AMT hits those of us living here in the northeast hardest because the cost of living and salaries are higher here. Many of us who consider ourselves middle class are getting caught paying extra taxes because the AMT has not been correctly adjusted for inflation.

In addition, how will the lost revenue from ending the inheritance tax be made up? This benefits only the top fraction of one percent, but the lost revenue will be made up by all of us.

 

[PURSUITWA]

No comment. Its a long weekend and I don't want to get myself hooked into a debate that will take all my free time. Besides, I'm going out to dinner tonight with some friends and I've asked each one to bring their W2 so we can split the bill according to income.

 

[likeitreallyis]

but will both of you have enough money to cover the bill?

or if the bill is $20.00, you both pay $5, and have your kids pay $25 (10 dollars plus interest) in a few years for your happy meal today?

 

[likeitreallyis]

Slacker wrote:


In addition, how will the lost revenue from ending the inheritance tax be made up? This benefits only the top fraction of one percent, but the lost revenue will be made up by all of us.

Not all of us. The rich won't pay it but our kids will have to. But they won't have jobs. Nice situation huh?

 

[tomjg]

The dems mantra has always been if you tell a lie long enough it becomes the truth.( The dems and Roger Clemens) Never let the facts get in the way of a good story. Salaries are being driven down?????? Average US salary is at an all time high- average wage earner earns over $17 per hour-- not going down - going up. Sheesh.Also- Mako presented facts- you Bush detractors don't dispute them , just ramble on about the top 1%-- the bottom line is EVERYONE paid higher taxes under Clinton. EVERYONE will pay higher taxes under clinton/obama.

 

[BLUEFISH9]

Wages are NOT going up....But unemployment is!

 

[MakoMike]

Slacker wrote:

In addition, how will the lost revenue from ending the inheritance tax be made up? This benefits only the top fraction of one percent, but the lost revenue will be made up by all of us.

Why should it have to "be made-up." The governemtn doesn't get enough money already so they have to make-up for doing away with an unjust tax? If I stole $20 a week from you and then you moved, would you still have sent me $20 a week to "make-up" for my lost revenue?

 

[tomjg]

In 2004 the average hourly wage in the United States was $16.34 per hour. They have gone up consistently to the $17.80 per hour they are today. This is an all time high. Source-US Department of Labor.
I know facts are hard to grasp for some people.

 

[rubicon]

Although wages are at all time highs, you need to factor in the effects of inflation as well. I'm not getting into the political aspect of this board, but high wages does not neccessarily signify a healthy economy.

 

[seygrunt]

Funny Stuff

And that increase just about covers 1/10 of our increased oil/fuel bills...

tomjg wrote:
In 2004 the average hourly wage in the United States was $16.34 per hour. They have gone up consistently to the $17.80 per hour they are today. This is an all time high. Source-US Department of Labor.
I know facts are hard to grasp for some people.

 

[Scott1280]

likeitreallyis wrote:
Um... Democrats = SURPLUS

Rebublicans = RECORD Deficit that our kids have to pay.

Democrats = cash in the bank.
Republicans = credit card debt.

Republicans: Half of ALL TAX CUTS by 2010 to richest 1%, other half goes to the rest of us 99%

Are we better off today than we were 8 years ago? Imagine if Gore won (he did get more votes than Bush remember?) Surplus and no Iraq war maybe? hmmm I wonder...
Deja Vu all over again.....

 

[Scott1280]

PURSUITWA wrote:
No comment. Its a long weekend and I don't want to get myself hooked into a debate that will take all my free time.
What he said!

 

[canyonfvr]

AZFISHKILLER wrote:
SUFFOCATION wrote:
Seems like we are taxed by the Democrats to pay for the wars Republicans drag us into.

This could require some popcorn. Ohhh boy.

LOL i wonder if Skip will get zotted from here

 

[MakoMike]

Just to keep things in perspective. How much money does it take to be in the top 1% of taxpayers? roughly $170,000 per year. Now that's certainly not chump change, but how many "middle class" people in New York make $170 grand a year. I'd wager that with most working couples and the salary/cost of living in the greater NYC area, there are quite a few, and I'll bet than none of those making 170k consider themselves "rich."

 

[woodc12603]

Fair Share???

2/3 of Federal Income taxes collected are paid by those with the top 1/3 of income. I would say that they pay their fair share. All spending bills start in the House of Representatives. During the 1990's the house had a majority of fiscal conservatives. During this time period the Federal Treasury was still receiving loans from the Social Security Trust Fund. The first year that a 0 deficit was claimed the Federal Treasury received $854 billion dollars from the Social Security Trust Fund. The evidence is clear that higher tax rates result in a depressed economy and lower federal revenue while lower tax rates stimulate economic growth and higher federal revenue.
Those who are concerned about deficits should start thinking about how the Federal Treasury is going to repay the loans from the Social Security Trust Fund. These payments will have to start in about 2018 and there is no money for these payments, accept for increased taxes. We should expect our federal income taxes to increase by 50% at that time unless another method can be found to fund Social Security, which no one is working on. Don't forget that in 2010 the current tax cuts expireand our current congress has already made plans to spend that money 3 times over.

Regarding corporate executives and their compensation which I believe is excessive, that is entirely in the hands of the stockholders. They could act to reduce executive compensation if they chose to.