Why do people have the impression that the Democrats give lower taxes to the poor and middle class, while the Republicans raise their taxes and give tax cuts to the rich?
It isn't true, check out this website if you don't believe me
http://www.moneychimp.com/features/tax_brackets.htm
I will compare some tax rates from 2000 and 2007 for various incomes, these are real numbers not guesses or anything else.
$10,000-
2000-$1,500 or 15% of income
2007-$1,109 or 11.1% of income
$30,000-
2000-$4,988 or 16.% of income
2007-$4,109 or 13.7% of income
$40,000-
2000-$7,788 or 25.9% of income
2007-$6424 or 16.1% of income
$100,000-
2000-$25,681 or 25.7% of income
2007-$22,111 or 22.1% of income
As you can see, with all the incomes even the poor and middle class the taxes paid in 2007 are less than in 2000. And why does the person making $100,000 pay 0.2% less in 2000 than the person making $40,000? I thought Clinton and the democrats wanted to help the middle class?
2007-08-09
02:36:53
·
7 answers
·
asked by
Anonymous
in
Politics & Government
➔ Other - Politics & Government
Compared to 2007, where the person making $100,000 a year pays 6% more of their income.
It is true that the Bush tax cuts lowered the taxes on the richest Americans, but also lowered the taxes on the poorest Americans at the same time. Atleast a person making $100,000 in 2007 is paying 6% more of their income than the person making $40,000 unlike in 2000 when that person paid less of their income.
I know I can't change everyones minds, but I back my thoughts up with facts.
2007-08-09
02:39:35 ·
update #1
@ Lil Me-
I understand your point that the tax cuts may not be the best for the economy overall. My point is that Bush and the Republicans are not the poor and middle class haters people make them out to be talking about tax cuts.
I do appreciate the link, but the chart about what % of the people got the most tax cuts, that isn't truly fair. While a person making $20,000 a year got a break of $310 or about 1.6% of their income a person at the top 1% or a person making 1.6 million, got a break of about $80,000 but they also pay $544,000 a year. So they did get a much larger break than anyone else, but they also pay much more, 34% of their income.
2007-08-09
03:12:26 ·
update #2
@Ultrastoop-
I consider myself middle class, I make about 40K a year. I feel I am better off than I was 7 years ago. I drive a better car, have a nicer apartment. You comment is too broad, each person has different circumstances. Alot depends on where you live. Some job markets are booming while others are dwindling. That has more to do with local politics than national.
@dankquish
True the tax bracket stops at 500,000 with everything above that taxed at the same rate, but that is how it has always been, even before Bush. That is something that needs to be addressed but it doesn't change the facts that the middle class pays less today than in 2000.
2007-08-09
03:37:18 ·
update #3