Old Blue Collar Joe
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- Posted: Wed, 07 Nov 2012 20:54:53 +0000
S.Lyger
Old Blue Collar Joe
S.Lyger
Old Blue Collar Joe
S.Lyger
Old Blue Collar Joe
The first part is a myth. The tax cuts weren't just for the rich, just like the last ones weren't. The biggest cut was actually to the middle class, not the upper. Think about it, if they were 'only for the rich' last time, as the hue and cry has been made, why did the dems scream to ONLY let them expire for those over 250k in income?
It may appear that the rich got the biggest (they got the smallest, actually), but reality is that, if you get a 3% tax cut on a million dollars, it looks a lot more impressive than a 15% tax cut of 50k when just looking at the dollar amount.
But when you do the math, you realize that percentage wise, the bigger cut wasn't where everyone claimed.
Well no I mean I understand that, the rich pay way more in taxes per person than anyone else in the country in theory [because of all the easy ways to avoid paying taxes]. At the same time however its proportionately different, if I make 50k and I have to pay 25% 12.5k , that effects me considerably more than someone who makes a million and pays 350k in taxes. That other 650k is more than enough to live comfortably , even if it were just 600k, and rich people would survive. If it also meant that my 12.5 became 12k, that 500 really makes a difference in my life, thats one less financial choice somebody somewhere would have to make. In comparison, its just a written check for a rich person.
Why do you think I light off on the folks that come in with that fair/flat tax idiocy? I am well aware of that. Of course, you'll also discover that those that are in the 250k or so annual salary that own their own business? They aren't rich by any means. Running most businesses cost a fair amount.
True true, but I'm pretty sure there are tax incentives for those business owners as well. I don't remember everything I learned in tax accounting, but isn't that so?
They don't offset all the headaches. Which reminds me. All the folks holding parties about Obama winning are forgetting we have an unfinished budget.
Care to guess who the chair of the budget committee is?
Actually, I think he'll be sticking to his guns. Only way to fix the budget is with some cuts, and I think he has the balls to make the call.