Clinton's Scandals: Is this corruption the worst ever? Message Board

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Politics : Clinton's Scandals: Is this corruption the worst ever?

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To: RJC2006 who wrote (3081)	8/25/1998 11:40:00 AM
From: Doughboy	Read Replies (3) of 13994

<<Yes, Doughboy has done it again. Janitors, car washers and chimney sweeps all over America thank him as they shovel all that extra cash into their IRAs while reaping the windfall of their capital gains. Tax cuts the Clinton way. Nothing makes a low and middle income family feel better then raising their exemption which is taken from their gross income while grabbing it back through a higher income tax rate. Yes, a thing of beauty that is.>> Bob, you obviously "forgot" about the GOP tax cut last year, and now you pretend to understand how it works. I'm willing to credit the GOP for spreading the benefits of the tax cut quite evenly along all income income brackets: the Earned Income Tax credit is a boon for the working poor; reduction in personal exemptions benefits everyone (but the most wealthy), but as a percentage of tax, benefits the lower income levels the most; the Roth IRA is a wonderful savings device for the middle class (not so good for the rich because it is phased out at high income levels, and the $2000 per year limit is de minimis savings for someone who has an upper bracket income); the home tax reduction is a god-send to the middle class (my parents for one were "house poor," ie they have a modest income but they couldn't move out of their house without paying a huge tax. that problem is now solved); and the inheritance tax changes benefit small business and family farm owners pass on their property to children while having very little impact on the very rich. That's how the 1997 tax cut benefited all of us. Why don't you admit you made a mistake and move on? Doughboy

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