Thread: 10/02 McCain/Palin or Obama/Biden
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Old 10-04-2008, 03:34 AM
jimmy g jimmy g is offline
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Quote:
Originally Posted by DriveSafely View Post
Letting the Bush Tax cuts expire raises taxes mostly on the wealthy.
Debt Free- When the Bush Tax Cuts Expire - For the Rest of Us


On the expiration of the “Bush” tax cuts, the tax brackets will change as follows:
Brackets 10, 25, 28, 33 and 35 percent will be increased by 50%, 12%, 10.7%, 9.1% and 13.1% percent, respectively, to 15, 28, 31, 36 and 39.6 percent. Those of you at the bottom of the tax barrel will see a 50% tax increase. Still think that those tax cuts are strictly for the wealthy?? Well, have a nice day then. The child tax credit will be cut in half (damn those wealthy families with children) so in reality, the upper and lower classes benefited the most from the tax changes, with the lower class receiving far and away the largest benefit. Yet, we seldom hear this in our daily news osmosis. The phrase “tax cuts for the rich” has been repeated so many times that the majority of the sheeple simply believe it.