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Willisms

« Quotational Therapy: Part 111 -- Charlie Rangel. | WILLisms.com | The Tenth Mainstream Melee -- Our New Democratic Overlords. »

Trivia Tidbit Of The Day: Part 375 -- Who Pays Taxes.

Tax Cut Versus No Tax Cut-

The tax structure is not accidentally more progressive than it was when Bush took office. The tax cuts ("for the rich") actually made the difference (.pdf):

whopaysfederalincometaxes.gif

Our new left-wing overlords, meanwhile, are determined to raise taxes. The media, of course, call that tax hike a "repeal" of a "tax cut" ("for the rich"). Raising taxes, or failing to extend the tax cuts which are set to automatically expire, will likely give Americans a serious case of buyer's remorse two years from now. Indeed:

According to the Treasury Department, all American taxpayers will experience a tax increase if the 2001 and 2003 tax provisions are not made permanent. On average:

* 115 million taxpayers will see a $1,716 increase.
* 84 million women will see a $1,970 increase.
* 48 million married couples will see a $2,726 increase.
* 42 million families with children will see a $2,084 increase.
* 12 million single women with children will see a $1,062 increase.
* 17 million seniors will see a $2,034 increase.
* 26 million small business owners will see a $3,637 increase.
* More than 5 million low-income individuals and couples will no longer be exempt from individual income tax.

Awesome.

-------------------------------------

Previous Trivia Tidbit: Fertility Rates.

Posted by Will Franklin · 10 November 2006 07:23 PM

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