On Wed, Aug 13, 2008 at 5:11 PM, Jon Pruente [email protected] wrote:
On Wed, Aug 13, 2008 at 8:45 AM, lowell [email protected] wrote:
administration genuflected to their holy-of-holies (free market laissez faire no matter what the current reality may be) and dramatically cut the tax *rates* of the upper bracket incomes (the ONLY ones who pay taxes, if I understand you correctly) knowing this would drastically reduce tax *revenue*. The motive driving this on-the-face-of-it foolish action had
Nope, I never said the tax cuts were for the rich only. The lower brackets accounted for quite a lot of the tax relief from the Bush tax cuts, even if the Democrats want to play like it isn't true.
Maybe I should clarify a bit: If you read the info, then you see that the lower brackets of people are being SENT money by the IRS. They are still "taxed" in the sense that they need to file, but they have a negative tax rate in effect. I never said only the rich pay taxes, I said they pay most of them. The data proves it. it also helps to define the point where you cut off "rich" in the figures and the IRS tends to do that around $150K-350K.
Jon.