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

To: Neocon who wrote (30258)	8/19/2000 12:56:52 PM
From: Alexandermf	Read Replies (2) \| Respond to of 769667

Neocon, I have lived through these so called "Surplus" times One in particular was Gov. Ella Grasso's reign in Ct. As time went by Ct. had a huge deficit. I am not buying Bush or Clinton's story that we have a Surplus?????? To give these wonderful tax cuts. I have never seen one yet;-)

To: Neocon who wrote (30258)	8/19/2000 3:50:26 PM
From: ztect	Read Replies (4) \| Respond to of 769667

Per the page you provided "...Under Governor Bush’s tax plan, the largest percentage reductions will go to the lowest-income earners..." Question though, how many dollars do the "lower" percentage breaks do the upper income people translate into? Moreover, why doesn't he put forth those number for comparison? The top rate goes from 39.6% to 33% georgewbush.com Raise the threshold for phase out of child tax-credit from 110,000 to 200,000 Eliminate inheritance aka "death" taxes ======================================= How much a family of 4 making 200,000 in "taxable" adjusted income get back? 36% to 33% rate break, 72,000- 66,000 plus 2,000 dollar child break Not accounting for marriage break = $8,000 How much does a family of 4 making 400,000 get back? 39.6% to 33% rate break $158,400- $132,000 =$26,000 (not accounting for marriage break, not exactly sure how that would impact- any accountants out there?) Now per Bush's figures again $35,000 = $1,500 reduction $50,000 = $2,000 reduction $75,000= $2,500 reduction From prior post Of the $142 billion surplus projected by the end of 2000, $137 billion will come from excess Social Security taxes. Meaning that surplus isn't from corporate or income taxes, it is from flat SS taxes (approx 7%) capped at $75,000 So everyone paying $75,000 and under is getting $2,500 hundred of their SS taxes back in the form of income tax relief. Someone making 75,000 at .07 SS = $5250 SS Tax Someone making 400,000 at .07 SS = $5250 SS Tax So the vast majority of the "surplus" in dollars (not percentages) from social security taxes capped at $75,000 is being used to give income tax relief to people whose income isn't even subjected to Social Security tax that supplies the surplus. Geeze Dubya lovers figures sure can be deceiving. What a nice little con game. z