"Mark & Juanita" wrote in message
s.com...
In article ,
says...
On Sat, 29 Nov 2003 22:46:08 GMT, "Tom"
wrote:


Which tax cuts are now paying off nicely... It probably irks you no end
that
the economy is turning around, in part because of those cuts, doesn't
it?

Sucks being you, when your only hope is doom and gloom, doesn't it?


The three million jobs lost since shrub's reign began
aren't back yet.

You guys need to get your stories straight, some other leftwinger has
the number at 20 million.


Nobody said that. The number is 3 million. Look it up. You seem to have some
dexterity with statistics. However, I don't think we can pin these jobs on
the Bush administration. Not that he did anything to try to staunch the flow
of blood, but the US has been leaking jobs for some time now. Something to
do with globalization, I think...


You can always liven up an economy with defecit
pending. Democrats have played that game also,
Question is how much "livening" you get for how much
defecit spending. How much debt can the USA pile
on? Someone's got to pay, eventually. With shrub's
rules, it's the poor and the middle that pay, and the
rich that make off with the proceeds.


Unfortunately for you, the numbers belie your rant. Who pays the
taxes in the US? According to IRS 2001 statistics, the top 50% of wage
earners pay over 96% of all income taxes. The top 10% pay almost 65%
(64.89% to be precise). The top 5% pay 53.25% of all income taxes. Top
50% earn 86.2% of all income, top 10% earn 43.11% of all earnings, top
5% earns 31.99% of all income. Again, the source here is the IRS
statistics for 2001.

Now, given that the top 50% are paying 96% of all taxes, and the top
5% are paying 53.25%, who has any chance of benefiting from tax breaks
but the people who are paying the taxes.

You know, lies, damned lies, and statistics...

Income taxes, not payroll taxes. Payroll taxes (you know, fica, ss, etc) are
the majority of federal taxes for many if not the majority of people. As the
income tax goes down, the payroll tax stays the same.

Thus, the rich's taxes go down while the poor's taxes stay the same. Taxes
on unearned income, and estate taxes were also cut by bush. Again, to
benefit the rich.

Now, since the federal government is back to its old, pre-Clinton ways of
deficit spending, and there is that big old pile of money in the social
security trust fund, I guess bush can use that to pay for essential
services, right? That trust fund was built up using an additional 1% payroll
tax that was imposed in the 80s. You've been adding to it with your paycheck
every year since it was created so social security wouldn't fold in 2010.

Unfortunately, giving the budget surplus to the rich will bankrupt social
security (which before the tax cut would have lasted another 50 years) in 10
years. Medicare will follow. Won't Grover Norquist be a happy camper when
that happens?

That tax cut doesn't seem like such a good idea now, does it? How about in
10 years, when you retire?