4/13 That's just like the motd these days. I finally got someone cornered
in an argument and someone purges it. But since the guy is too lazy
to figure out our tax code, I think it's my duty to educate him. A
single person making $100k will pay a little over $31k in state and
federal combined and not the 39.5% that some people claim. But we
can see who stands to benefit from this upper class tax cut. Bush
will get back about $40k from retroactive tax relief while Cheney
is a whole other story. But I have sympathy for Cheney. He'll need
that money for future heart surgery so he deserves the millions he
sits on. Incidentally, the upper bracket relief is almost equivalent
to the amount of their money that goes towards debt service (a little
more actually). So instead of dealing with this issue which will
guarantee future long term tax cuts we're giving a massive short-term
tax cut mostly aimed at that 39.5% group. |