Taxes under both republicans and democrats

[kim in ks]

I thought this was very interesting!

Whether Democrat or a Republican you will find these statistics enlightening

and amazing.

www.taxfoundation.org/publications/show/151.html

 

Taxes under Clinton 1999 Taxes under Bush 2008

Single making 30K - tax $8,400 Single making 30K - tax $4,500

Single making 50K - tax $14,000 Single making 50K - tax $12,500

Single making 75K - tax $23,250 Single making 75K - tax $18,750

Married making 60K - tax $16,800 Married making 60K- tax $9,000

Married making 75K - tax $21,000 Married making 75K - tax $18,750

Married making 125K - tax $38,750 Married making 125K - tax $31,250

Both democratic candidates will return to the higher tax rates It is amazing

how many people that fall into the categories above think Bush is screwing

them and Bill Clinton was the greatest President ever.

If Obama or Hillary are elected, they both say they will repeal the Bush tax

cuts and a good portion of the people that fall into the categories above

can't wait for it to happen. This is like the movie The Sting with Paul

Newman; you scam somebody out of some money and they don't even know what

happened.

 

 

 

 

 

[Melinda in VT]

First, this Snopes article points out that the actual difference is not as large as this table says.

 

Second, there are worse things than paying higher taxes. Watching the national debt grow, for example. :glare: I wouldn't assume that people who are voting Democrat don't realize their taxes might go up.

[Marie in Oh]

:lurk5:

[Elaine]

:lurk5:

 

Do you like garlic salt with your popcorn?;)

[Tracey in TX]

Are these actual numbers? While I'm a die hard Republican, even I found this questionable. Business Week recently had an article reflecting percentages of incomes paid to taxes over the last generation. We're 'fortunate' to be paying what we currently do, and how it's anticipated that both parties will be forced to raise taxes during the next administration. Republicans will supposedly raise less as it's more of a 'small' government mentality, and the Dems will raise even more so. No matter what transpires, we'll still be paying a lesser percentages than in the 1970's.

I thought this was very interesting!

 

Whether Democrat or a Republican you will find these statistics enlightening

and amazing.

www.taxfoundation.org/publications/show/151.html

 

Taxes under Clinton 1999 Taxes under Bush 2008

Single making 30K - tax $8,400 Single making 30K - tax $4,500

Single making 50K - tax $14,000 Single making 50K - tax $12,500

Single making 75K - tax $23,250 Single making 75K - tax $18,750

Married making 60K - tax $16,800 Married making 60K- tax $9,000

Married making 75K - tax $21,000 Married making 75K - tax $18,750

Married making 125K - tax $38,750 Married making 125K - tax $31,250

Both democratic candidates will return to the higher tax rates It is amazing

how many people that fall into the categories above think Bush is screwing

them and Bill Clinton was the greatest President ever.

If Obama or Hillary are elected, they both say they will repeal the Bush tax

cuts and a good portion of the people that fall into the categories above

can't wait for it to happen. This is like the movie The Sting with Paul

Newman; you scam somebody out of some money and they don't even know what

happened.

 

[Greta]

Second, there are worse things than paying higher taxes. Watching the national debt grow, for example. :glare:

 

:iagree:

 

FEDERAL GOVERNMENT DEBT of $9 TRILLION = $29,926 per PERSON, and rising

Our nation's founders were against debt. At the writing of the Constitution they were concerned about debt incurred to finance the Revolutionary War, and it was their intention to promptly pay it off. Alexander Hamilton (federalist paper #7) called for the "extinguishment of all debt." Thomas Jefferson later wrote, "I place economy among the first and most important of republican virtues, and public debt as the greatest of dangers to be feared."

 

"Foreign interests have more control over the US economy than Americans, leaving the country in a state that is financially imprudent. More and more of our debt is held by foreign countries – some of which are our allies and some are not. The huge holdings of American government debt by countries such as China and Saudi Arabia could leave a powerful financial weapon in the hands of countries that may be hostile to US corporate and diplomatic interests.â€

 

Quoted from: http://home.att.net/~mwhodges/debt.htm

[Mamagistra]

If only I could choose the lesser of two weevils! :lol::lol:

 

I happen to think a weevil might make a better president than the choices ordained by our Big Cuddly Media Friendz® and the Shiny Happy Corporate Borg-o-rama®.

 

But I'm a bit of a skeptic. :tongue_smilie:

 

Cue the announcer: ~This message brought to you by Mamagistra...And coffee. Stay tuned for Okra. ;)~

[Mrs Mungo]

I agree with Melinda that it's not an accurate reflection *and* that there are worse things than higher taxes.

[kim in ks]

Here is the actual chart ( I couldn't get the chart to show correctly, so I'll just post the link)

http://www.taxfoundation.org/publications/show/23003.html

from the Tax Foundations website. I still find it interesting, I also agree we should decrease the national debt. BUT, in my household when we need to pay off debt, we SPEND LESS!! not tax our children, or make them start paying rent, etc..... We could drastically reduce the debt, if we would stop funding so many gov't programs.

Just my 2 cents, I'm definitely not a Political genius. Just seems to make sense;

owe to much...... spend less?????

kim

[kim in ks]

I agree there are many worse things than higher taxes. I think because we are self-employed, this hits us hard. WE have been taxed for this, and that, where we feel all of our money is going for taxes? we're barely keeping our heads above water.

[Mrs Mungo]

I agree there are many worse things than higher taxes. I think because we are self-employed, this hits us hard. WE have been taxed for this, and that, where we feel all of our money is going for taxes? we're barely keeping our heads above water.

 

The thing is, the weak dollar as a result of our national debt is what's causing a lot of prices to go up. The weak dollar is a large part of the reason so many people are having trouble keeping their heads above water.

[Renee in NC]

Here is the actual chart ( I couldn't get the chart to show correctly, so I'll just post the link)

http://www.taxfoundation.org/publications/show/23003.html

from the Tax Foundations website. I still find it interesting, I also agree we should decrease the national debt. BUT, in my household when we need to pay off debt, we SPEND LESS!! not tax our children, or make them start paying rent, etc..... We could drastically reduce the debt, if we would stop funding so many gov't programs.

Just my 2 cents, I'm definitely not a Political genius. Just seems to make sense;

owe to much...... spend less?????

kim

 

In my house, we can't "spend less" as the debt has far out stripped our income. So, what do we do? Earn more - bring in more REVENUE you could say.

 

We have NEVER paid federal taxes in our lives because our income has always been too low. I would like to change that. The federal deficit is just one of the many factors causing us to be in a recession (and that is what it is - as a small business owner who works with other small business owners, trust me!:D)

[Renee in NC]

I agree there are many worse things than higher taxes. I think because we are self-employed, this hits us hard. WE have been taxed for this, and that, where we feel all of our money is going for taxes? we're barely keeping our heads above water.

 

We are self-employed as well, but we won't pay taxes until our income hits the $35K mark. We have NEVER had an income tax return that broke $30K.:lol:

[Pam "SFSOM" in TN]

...Both democratic candidates will return to the higher tax rates It is amazing

how many people that fall into the categories above think Bush is screwing

them...

 

I know you cut and pasted this from somewhere, but I assume these are your thoughts as well?

 

Honestly, when these tax cuts were passed, THAT was when I felt "screwed." I thought it was shortsighted and foolish to cut those taxes and knew that someday, somehow, I would be making up the shortfall. And that we might have got what we as a nation wanted, but we would soon come to see that we did not want what we got.

 

:YMMV. All views expressed are not necessarily those of the management, Alphabet Enterprises, or its subsidiaries. All rights reserved. Objects in the mirror appear larger than actual size. Yada, yada, etc. ad nauseum.:

[Mrs Mungo]

Honestly, when these tax cuts were passed, THAT was when I felt "screwed." I thought it was shortsighted and foolish to cut those taxes and knew that someday, somehow, I would be making up the shortfall. And that we might have got what we as a nation wanted, but we would soon come to see that we did not want what we got.

 

I agree, especially when we entered a global war shortly after passing those tax cuts. I realize most people are pretty clueless about the war but never before in war has so little been asked of the American people. In the past the point of those efforts was to keep us out of debt (which it did not TOTALLY keep us out of debt but it helped) and the war ended in a booming economy.

 

eta: article on national debt and presidents

http://www.cedarcomm.com/~stevelm1/usdebt.htm

 

eta: more charts

http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms

[Retired]

It doesn't matter the party taxes will always rise. We are a spoiled society. We want the government to provide a program for everything. We don't want to sacrifice as a country to support the war. I agree the nation rationed, etc for other wars. Instead we have allot of people saying the war was wrong and we hate a America. We'll if you hate America leave. Oh, I guess you can tell I am sick of the leftist stuff. I am republican but they can be just as ill informed, greedy or corrupt as a Democrat.

The dollar is nothing but made up money. It is sinking because there is nothing to back it up. When we know longer printed the dollar to match our gold. It pretty much became worthless. It just paper. The Federal Reserve is reserve of what.

[Ahwahnee]

.

 

eta: article on national debt and presidents

http://www.cedarcomm.com/~stevelm1/usdebt.htm

 

eta: more charts

http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms

 

Pretty pitiful. I think the correlation is wrong because Congress is where budgets are passed. The President proposes a budget and then Congress adds pork. The President can veto the budget, but that can have serious political consequences; like when the government shutdown. To be fair, I think comparisons should be made on the party that controls the House.

[Nestof3]

BUT, in my household when we need to pay off debt, we SPEND LESS!! not tax our children, or make them start paying rent, etc..... We could drastically reduce the debt, if we would stop funding so many gov't programs.

 

Sing it sister! I agree with you completely.

[Nestof3]

I agree there are many worse things than higher taxes. I think because we are self-employed, this hits us hard. WE have been taxed for this, and that, where we feel all of our money is going for taxes?

 

Yep -- I have actually met people who don't know that their employer matches their social security and medicare! And when you're self-employed, you pay your own and match your own. Employers also pay unemployment tax so there is money to draw from for unemployment.

 

I agree, when you're self-employed with no "benefits" but paying taxes here and there, it is a starker reality.