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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: ztect who wrote (30248)	8/19/2000 11:59:16 AM
From: Neocon	Read Replies (1) \| Respond to of 769670

I thought the quoted material contained the contradiction. I don't know how great the disparity would be with the inclusion of benefits off hand, I was speculating, so I will drop that. You are quite wrong on the second point. The quintiles are meaningless because it is typical for people to do better later in life. I think IRAs are great, in the current tax environment. In the 80s, Kemp- Roth cut marginal rates while closing shelters. That is what I was using as the tax adjustment related to "trickle down". I would be happy with a flat tax, personally, or even the FT lite, with three rates. I do not have the math on the Bush plan at my fingertips, if I have a little time, I will see what I can get on the Web. The lowest income people pay no federal income tax, and therefore it is a non- issue. If debt is reduced by virtue of family oriented tax relief, there will at least be a marginal effect on bankruptcies, since additional income can stave off some crises.......

To: ztect who wrote (30248)	8/19/2000 12:50:42 PM
From: Neocon	Read Replies (2) \| Respond to of 769670

Taxes Governor Bush believes that roughly one-quarter of the surplus should be returned to the people who earned it through broad tax cuts – otherwise, Washington will spend it. His plan will promote economic growth and increase access to the middle class by cutting high marginal rates. It will also double the child credit, eliminate the death tax, reduce the marriage penalty, and expand Education Savings Accounts and charitable deductions. The largest percentage cuts will go to the lowest income earners. As a result, 6 million families will no longer pay federal income tax...... Increase Access to the Middle Class: Under current tax law, low-income workers often pay the highest marginal rates. For example, a single waitress supporting two children on an income of $22,000 faces a higher marginal tax rate than a lawyer making $220,000. As a result, the benefit to this waitress of taking an extra training course or working an extra shift is cut in half by the government. Governor Bush believes that we need to take down this tollbooth on the road to the middle class. Under his plan, this waitress will pay no income tax at all..... Governor Bush’s Tax Cut Proposal -------------------------------------------------------------------------------- 1. Increase access to the middle class for hard working families: Cut the current 15 percent tax bracket to 10 percent for the first $6,000 of taxable income for singles, the first $10,000 for single parents, and the first $12,000 for married couples. Double the child tax credit to $1,000. 2. Treat all middle class families more fairly: Cut the maximum tax rate for the middle class to 25 percent (versus the current maximum rates of 28 and 31 percent). Greatly reduce the marriage penalty by restoring the 10 percent deduction for two earner families, allowing them to deduct up to an additional $3,000..... Under Governor Bush’s tax plan, the largest percentage reductions will go to the lowest-income earners. As a result: Six million low- and moderate-income families will be removed from the income tax rolls entirely. That is one out of every five families with children. The marginal income tax rate on millions of low-income families will fall by over 40 percent...... Tax Relief for Families of Four A family of four making $35,000 will receive a $1,500 tax cut, a 100 percent reduction. A family of four making $50,000 will receive a $2,000 tax cut, a 50 percent reduction. A family of four making $75,000 will receive a $2,500 tax cut, a 25 percent reduction. Tax Relief for Single Parents A single mother with one child making $22,000 will receive a $1,000 tax cut, a 100 percent reduction. A single mother with two children making $32,000 will receive a $1,500 tax cut, a 95 percent reduction. georgewbush.com

To: ztect who wrote (30248)	8/19/2000 8:58:28 PM
From: kvkkc1	Respond to of 769670

Z when you and your old lady are both working, have 2 or three kids, and have to drive two cars to work, there ain't nothing left babe. I make quite a bit more than that and it still doesn't leave a lot to save. This society, and especially the poor, for the most part spend every dime they make. Even if they just quit drinking a coke each day and put that 25 bucks a month away they would have a nice nestegg for retirement. Simple, but too many rely on the Gov't and don't prepare themselves. If we don't start reducing dependency, the surpluses will evaporate quick. We need to reduce entitilements and taxes.knc