Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Mark Adams who wrote (46518)	2/21/2004 5:00:10 PM
From: Mark Adams	of 74559

The 10% bracket expansion cited by Bush nets appx $100 incremental taxes savings on $1000 gross income for the single filer. Married filers appear to save $200 on $2000. The $300 'typical' tax savings cited in some press is offset by a nearly 11% increase in Food and Fuel expenses. While a small portion of total household expenses, a 10% increase in a $150 per month food budget annualizes to $15*12 or $180. An additional $24 per year for increased direct auto fuel costs, and you've effectively eroded 2/3rds the 'windfall' for middle class and lower citizens. This suggests to me that the party line on the tax cuts falls flat on close inspection, merely offsetting non discretionary cost increases for the typical household. hrblock.com

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