you can take stats and make them say anthiing. THe CBO estimated that the W tax cuts would increase the budget deficit (duh) by 60 billion in 2003 and 340 billion by 2008. Before W passed them


In case in republicans want to distance themselves from this fiscal irresponsiblility (tax cuts without corresponding spending cuts) the vote broke down like ths:
House

Reb: 224 for
1 against 99.6% for
Dems: 7 for
198 against 99.6 aganst

Senate For - Against
Rebublicans: 48 - 3
Democrats: 2 - 46

The biggest cuts came on dividends and capital gains. Not payroll taxes, which is where the poor and middle class make the majority of their income.

Families earning more than 1 million a year taxes dropped more sharply than any group in the country

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.

Tax Cuts Offer Most for Very Rich, Study Says - New York Times


Now, I'm ready for the "I hate the rich" comments, but I don't, but facts are facts, the rich have done better than the rest of us under this presidency.

i believe it is something along these lines.Top 1%=36%
top 10%= 67 %
top 25 %=85%
There arent a lot of percentage points left for the bottom 75 % and the bottom 40 % are a negative 4.

That tax the rich mentality isn't going over very well in maryland.they just passed a millionaire tax.A tax just for millionaires.So what happens...the millionaires are moving to another state.So, Maryland is about to lose the revenue they would have received before the tax was implemented and the entire revenue from these millionaires since it was implemented.Someone needed to inform the Maryland legislature that 100% of nothing is ...Nothing.

Do you realize that capital gains tax revenue actually increases when capital gains taxes are cut?Isn't that what is most important?The actual tax revenue in the government coffers and not who benefits?

Red,they not only pay the biggest percentage of the federal tax burden ,but their tax rates are higher.If anyone gets a cut it should be them. Here is a chart for you from the congressional budget office.

The top 20% paid over 80% of the taxes. How much of the wealth do they own? If they own more than the amount of tax burden they pay, then they pay a smaller percentage of their income.

I never understand how people are on here arguing for the wealthy, claiming they need a tax break, when their income and wealth has gone up dramatically while the majority of folks have lost income.

So some guy has worked his butt off and is lucky enough to be making a million dollars a year.At a 36% tax rate ...that is 360,000 dollars a year in taxes .How much more of his income do you want. 500,000? 750,000?Hell ,let's just take 900,000.He ought to be able to make it on 100,000 a year.

England tried that soak the rich till they drown philosophy back in the sixties.What happened? They left the country...Think John Lennon liked it over here for the low crime rate?

No Red, that would be an article written by that left wing broadcast network CBS.

About tax cuts ...yes, i think we all should get more tax cuts,except for the bottom that doesn't pay anything anyway.Wealthy included?...you bet...they earned it.

so what about the deficit?When our government learns to balance it's pocketbook...Then they have the right to come back and ask for more money if the situation dictates it.I havent seen that but one or 2 years in my lifetime ,so i am not holding my breath on that one.

Red , I don't have time to post every rich guy that left England overtheir tax policy...but,I give you the Rolling Stones

The Stones are famously tax-averse. I broach the subject with Keith in Camp X-Ray, as he calls his backstage lair. There is incense in the air and Ronnie Wood drifts in and out--it is, in other words, a perfect venue for such a discussion. "The whole business thing is predicated a lot on the tax laws," says Keith, Marlboro in one hand, vodka and juice in the other. "It's why we rehearse in Canada and not in the U.S. A lot of our astute moves have been basically keeping up with tax laws, where to go, where not to put it. Whether to sit on it or not. We left England because we'd be paying 98 cents on the dollar. We left, and they lost out. No taxes at all. I don't want to screw anybody out of anything, least of all the governments that I work with. We put 30% in holding until we sort it out." No wonder Keith chooses to live not in London, or even New York City, but in Weston, Conn.

Just google the rest ...the beatles, the stones...They all told England to kiss off back in the sixties,before the English relented somewhat .