The wealthy pay most of the taxes, so it should be no surprised that they get a larger percentage of the tax cut total back! It is only fair.
Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:
The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.
So, that’s what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. ‘Since you are all such good customers, he said, ‘I’m going to reduce the cost of your daily beer by $20. Drinks for the ten now cost just $80.
The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his ‘fair share?’ They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.
And so:
The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.
‘I only got a dollar out of the $20,’declared the sixth man. He pointed to the tenth man,’ but he got $10!’
‘Yeah, that’s right,’ exclaimed the fifth man. ‘I only saved a dollar, too. It’s unfair that he got ten times more than I!’
‘That’s true!!’ shouted the seventh man. ‘Why should he get $10 back when I got only two? The wealthy get all the breaks!’
‘Wait a minute,’ yelled the first four men in unison. ‘We didn’t get anything at all. The system exploits the poor!’
The nine men surrounded the tenth and beat him up.
The next night the tenth man didn’t show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!
And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.
David R. Kamerschen, Ph.D.
Professor of Economics, University of Georgia
Rush Limbaugh has used a similar story to explain tax cuts ... great story.
Those that suggest that the Bush tax policy was bad because it benifited the wealthy fail to understand that the tax policy was designed to creat wealth!
And it worked. Wealth that is created is put to work. It leads to investment which leads to jobs. it leads to spending which leads to jobs. It leads to business expansion which leads to jobs.
At the end of the day, the wealthy in this country paid a larger portion of the total tax bill because of GWB's tax policy than they did before it.
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I think you went too far with your comments Ferd. If your implying or saying that I lied, I resent that. My statement is absolutely accurate and truthful and I believe you should consider apologizing.
My point was simply that the Bush tax cut was targeted for helping the top 5% of tax payers. If you disagree with that, you disagree with the Congressional Budget Office.
I never mentioned the middle class in my post and have no idea why you inferred things that weren't there.
Bottom line the GWB tax cuts were targeted to help the ultra wealthy and they did just that according to the Congressional Budge Office.
I'm quoting from the New York Times article on the CBO report, "The study, by the nonpartisan Congressional Budget Office, also shows that tax rates for middle-income earners edged up in 2004, the most recent year for which data was available, while rates for people at the very top continued to decline."
__________________
Happy moments, PRAISE GOD.
Difficult moments, SEEK GOD.
Quiet moments, WORSHIP GOD.
Painful moments, TRUST GOD.
Every moment, THANK GOD.
Given as a lot of the article is directly from the report cited in the article by the Congressional Budget Office, it's a factual article. It's not some editorial that can be agreed or disagreed with. If you doubt the credability then your issue is with the CBO.
I know it's not from an upstanding source like drug using Rush Limbaugh or goofy Shawn Hannity, but it is from a credible source.
__________________
In essentials, unity. In non-essentials, liberty. In all things, charity. Augustine
Whatever oh Ferdious one. Again if you have a beef it's with the Congressional Budget Office and according to CBO(not the NYT) the Bush tax cuts helped the wealthiest citizens the most. I think I'll trust the CBO.
I think he listens to Slimebaugh and Hate-nity to much. Oh my mistake Limbaugh & Hannity.
The Republicans like old Ronnie almost as much as God, so maybe Obama and the Demo congress should make the tax rate for the rich the same as it was under their hero RR.
Those that suggest that the Bush tax policy was bad because it benifited the wealthy fail to understand that the tax policy was designed to creat wealth!
And it worked. Wealth that is created is put to work. It leads to investment which leads to jobs. it leads to spending which leads to jobs. It leads to business expansion which leads to jobs.
At the end of the day, the wealthy in this country paid a larger portion of the total tax bill because of GWB's tax policy than they did before it.
Give me some of that stuff you are taking. What Jobs??? Where are they????
Please where has it worked????
Give me some of that stuff you are taking. What Jobs??? Where are they????
Please where has it worked????
Yes it created wealth for bush's friends
A simple man who thinks that all of this nations ills could be cured if they simply raised the minimum wage to 50 bucks an hour.
I copy and past a previous post from our good brother Sam:
Quote:
The wealthy pay most of the taxes, so it should be no surprised that they get a larger percentage of the tax cut total back! It is only fair.
Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:
The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.
So, that’s what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. ‘Since you are all such good customers, he said, ‘I’m going to reduce the cost of your daily beer by $20. Drinks for the ten now cost just $80.
The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his ‘fair share?’ They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.
And so:
The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.
‘I only got a dollar out of the $20,’declared the sixth man. He pointed to the tenth man,’ but he got $10!’
‘Yeah, that’s right,’ exclaimed the fifth man. ‘I only saved a dollar, too. It’s unfair that he got ten times more than I!’
‘That’s true!!’ shouted the seventh man. ‘Why should he get $10 back when I got only two? The wealthy get all the breaks!’
‘Wait a minute,’ yelled the first four men in unison. ‘We didn’t get anything at all. The system exploits the poor!’
The nine men surrounded the tenth and beat him up.
The next night the tenth man didn’t show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!
And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.
David R. Kamerschen, Ph.D.
Professor of Economics, University of Georgia
If you can't understand this, then the sin of envy has such a grip over your life that you have been given to a reprobate mind.
I know it's not from an upstanding source like drug using Rush Limbaugh or goofy Shawn Hannity, but it is from a credible source.
1) Throw stones if you've been in the same health situation as Limbaugh and haven't resorted to using pain medication
2) Regardless of health, no one can say a word against his use of pain medication if they've got addictions of their own
3) Limbaugh used a legal pain medication; Obama used illegal cocaine ... enough said
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Re: Sen Spector (RINO) has made it official
Quote:
Originally Posted by n david
1) Throw stones if you've been in the same health situation as Limbaugh and haven't resorted to using pain medication
2) Regardless of health, no one can say a word against his use of pain medication if they've got addictions of their own
3) Limbaugh used a legal pain medication; Obama used illegal cocaine ... enough said
But that's different. He's a liberal and they aren't held accountable.
Whatever oh Ferdious one. Again if you have a beef it's with the Congressional Budget Office and according to CBO(not the NYT) the Bush tax cuts helped the wealthiest citizens the most. I think I'll trust the CBO.
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