Did you know Bush Really IS Increasing Taxes on the Poor and Middle Class while DECREASING taxes on the RICH?

Question

99%of Americans Are Net Losers Under Bush Tax and Spending Policies.From 2001 to 2006, the typical middleincome American has received a tax cut totaling $1,855 per family member.But that family’s share of the added national debt burden is $8,936 per person.This means that the net impact of the Bush fiscal policies on the middle 20%is an added burden of $7,081per American—or $28,322 for a family of four. The benefits and burdens of the Bush fiscal policies will not be felt equally by all.Because the benefits of the Bush tax cuts have gone primarily to the wealthiest 1% of Americans, this small group still comes out ahead even after the added debt burden is factored in. But the other 99% of American families are net losers from the Bush administration’s fiscal policies- leaving the vast majority to pick up the tab for a redistribution of income towards the wealthiest few.Put another way, if you’re among the 99%of Americans who lose, then for every $1.00 in tax cuts the federal government

has given you over the past six years, you’re left holding a bill for $3.74. In contrast, the added debt burden accumulated from 2001 through 2006 outweighs the tax breaks for the other 99% of U.S. residents by an average of $7,166 per person. They have received a tax break of $2,616, but their added debt burden is $9,782 per person. For the wealthiest one percent of Americans, who have an average 2006 income of
$1,272,000, the tax breaks outweigh the added debt burden accumulated from
2001 through 2006 by an average of $30,352 per family member. They have received an average tax break of $84,482 per family member, which exceeds their added debt burden of $54,130 per person by $30,352.

WWW.CTJ.ORG
Citizens For Tax Justice!

Answer 1

Lets forget about bush cutting Medicare, VA, ..what hasnt he cut excpet for the Iraq spending, which his political allies are definitely getting a huge chunk of the trillion dollars this war costs.

But like osmeone above answered, you gotta give it to the guy, he duped america and is stilll fighting to dupe us somemore

Answer 2

I'll give yo a fact that you will undoubtedly not believe. From 1992 to 1998 ( the first 6 years of the previous administration) the federal government's deficit totaled $1.041 Trillion. From 2000 to 2006 ( the first 6 years of the current administration) the federal deficit totaled $901 Billion. So that would tell me the current administration (through the first 6 years) has been better financially than the previous one. And it also must be noted if you subtract out the additional costs incurred from added security due to recent events there would be no deficit but a substantial surplus. Do a little bit more research next time.

Edit: RE: writersblock2006, actually since 2000, spending on Veterans Affairs and Medicaid are up almost 75%. Compare that to the change in spending on those programs from 1992 to 1998, VA increased only 30% and Medicaid only 50%.

Answer 3

Let's Privatize the National Debt

Seriously: let's split the check. The national debt is over $7 trillion. It's called the national debt because it's the nation -- us 280 million Americans -- who owe the money. Each of us is $25K in hock to the bondholders, "on average".

The debt is the accumulation of government deficits. Reduce tax revenue and you raise the debt. If you reduce revenue by cutting the "average" person's taxes by $1000 and simply add $1K to the "average" person's share of the debt you are not doing him a favor. You are simply giving him an advance on his own credit card.

Unfortunately, his tax cut is explicit and individual, but his debt is not. So let's _make_ it explicit. Let's establish a "privatized debt account" at the US Treasury for each American. It would be much like your Visa account. Annually you'd get a statement that says:

Your outstanding balance is $25K.
Your minimum payment due is $1K, which is interest only.
Feel free to send in more if you want to pay down your balance.

That last bit is important: you could pay down _your_ balance -- and not mine. If you pay off your entire balance in your lifetime, your kids (unlike mine) do not inherit your debt. More choice about "your own money"! Republicans should love it!

Except, of course, that if we seriously tried to divvy up the debt on a per-capita basis, the poor could not afford to even pay their interest. The bondholders would not stand for _that_. So even Republicans would have to accept progressivity on the debt.

They would then be in the delicious position of acknowledging that the rich ought to owe more of the debt, but insisting they should pay less in taxes -- which is how we got into debt in the first place. And the "average" person would see, in his annual privatized debt statement, how much his own balance went up each year, partly due to tax cuts.

No, the privatize-everything crowd is not about to go for privatizing the national debt. Which is why we ought to sweetly, innocently hammer them with it.

Answer 4

Don't even bother trying.You won't get through.I don't know what the average person on here pays but I pay through the nose.I am considered middle class. My neighbor who owns several business's reaps thousands in returns.He has actually changed his voting party to Republican to keep his tax breaks even though he doesn't agree with them on anything else and hates Bush more than I do.

Answer 5

YES! I knew THAT would happen in 2000 when I found out he stole; I mean won the election. It's classic conservativism known as: "Trickle Down Economics" and I, for one, do not like being pissed on!!

Answer 6

You don't listen to the news much do you? You are totally WRONG! Your statements are total lies and are not fact. You are very mis-informed!

For one thing, the rich are not getting tax breaks. MOST of the tax breaks are phased out so they don't get them. The rich are paying about 50% of their income in taxes. In fact the top 25% of taxpayers pay 85% of the taxes!

Anybody that says the rich don't pay taxes is wrong. We do tax returns for high income people. Many pay more in state taxes than many people earn in one year. I don't consider 39% federal tax nothing.

Answer 7

Sad, but true. How come the people that can afford to pay taxes don't have to pay very much. But, the people who live from paycheck to paycheck are burdened with the responsibility of paying off the national debt.

Answer 8

Its great all the thought, time and research you put into your question/statement. Could it be that you have lots of time on your hands and you do not have a real job and earn a real income. Having worked for many years I have noticed more taxes come out of my check with democrats and less with conservatives. So when you become part of the working class then come back and lecture me about taxes.

Answer 9

Seeing as sites in the .org domain, by definition, have a specific agenda, I tend to not believe them blindly. I suggest you see if you can find that same information somewhere else.

Answer 10

You just figured that out?