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To: Skeeter Bug who wrote (157401)	5/21/2003 2:16:11 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 164684

The tax cut plan calls for across the board cuts in marginal tax rates. Obviously, if you knock 1% off the effective tax rate of someone paying 100k in taxes and someone else paying 10k in taxes, the former get 10x the $ savings, but only because he pays 10x the taxes. Tell me what you find unfair about that? And while you're thinking about it, consider that the "rich" guy above probably does not make 10x is poor friend - we have a progressive marginal rate structure, so he's already paying a much higher effective tax rate. The plan, from what I've heard, also calls for increasing exemptions for dependent children. The benefit there is obviously the same for all in dollar terms, but much greater for lower income taxpayers in terms of reducing their tax burden.

To: Skeeter Bug who wrote (157401)	5/22/2003 12:38:44 PM
From: Victor Lazlo	Read Replies (1) \| Respond to of 164684

Skeet dont believe everything bil marr says, the guy is way too politically correct. " Low-income taxpayers would pay 5 percent, falling to zero in 2008. Barring further congressional action, today's higher rates would return the following year. Other provisions aimed at individuals and families would start retroactively on Jan. 1 and expire in 2005. These included reduced taxes for married couples, expanding the lowest tax bracket and preventing more taxpayers from paying the alternative minimum tax. There also would be a $1,000 tax credit for each of up to two children for the next two years, an increase from the current $600. Grassley said 25 million families would qualify. Parents would begin receiving checks of up to $400 per child, beginning in late summer. Businesses won two temporary tax breaks designed to encourage immediate investments. Small companies could expense up to $100,000 in new equipment investments through 2005, and businesses could depreciate more of their assets sooner through 2004. The measure also omitted $90 billion in tax and fee increases that the Senate included in its bill. They included extended customs user fees, closed corporate tax loopholes and higher taxes on Americans working overseas. "