PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Steve Dietrich who wrote (566802)	4/20/2004 11:40:40 AM
From: Srexley	of 769670

"Instead of thanking me you called me a dolt" I did thank you, and I called you a dolt because you called me one. I stand by my posts with Buddy, and do think he is a bit of a dolt in regard to taxes. Seems to think there are secret "loopholes" on the income of super rich people. "If you want to read some analysis about how the Bush tax cuts go mostly to the rich" You're saying it here, aren't you? "You said you saw it on tv or something and that it counted 2004 filers" It counted people who filed in 2004 for their 2003 taxes. WASHINGTON — Everyone paid taxes on April 15, right? Wrong. Tens of millions of Americans will pay no federal taxes this year. Americans will file about 132 million tax returns this year and all will pay less in federal taxes due to three Bush tax cuts. But 44 million people will pay no federal taxes at all — that's the highest number in U.S. history and it translates to 33 percent of all tax filers. Before the Bush cuts were implemented the number of filers who paid no federal taxes was 30 million, or 23 percent of all tax filers. These numbers are much larger than those from 1980 when the revolt against federal income tax rates began. Who are the zero tax filers? They are the ones who have enough deductions and credits to erase their federal liability. That means after taking all legal credits and deductions, they will receive back every penny of federal income taxes withheld. In addition to these 44 million zero-tax filers there are another 14 million whose incomes are so low, $20,000 or less, they are off the tax roles entirely. Add to that the dependents, children, family members and those who aren't taxed at all — it equals 122 million Americans who live completely outside the federal tax system. foxnews.com

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