Originally posted by Captain Virgil Hilts
[BI own my own business, and I work 5.5 days a week to earn a meager $40K a year, with help from my wife and her full time job. I feel so USED by the Bush administration 
since my business is doing better and my taxes are lower. It's so good to be rich and have a corporation . [/B]
Im not sure what you are trying to say.
But I do think people in your income bracket should get breaks.
And believe me, with Bush it is good to be rich and or be part of the upper echelon in corporate America. Because we are getting all the breaks at your expense.
Stolen:
One of Bush's biggest tax-cut whoppers came when he stated, during the presidential campaign, "The vast majority of my [proposed] tax cuts go to the bottom end of the spectrum." That estimate was wildly at odds with analyses of where the money would really go. A report by Citizens for Tax Justice, a liberal outfit that specializes in distribution analysis, figured that 42.6 percent of Bush's $1.6 trillion tax package would end up in the pockets of the top 1 percent of earners. The lowest 60 percent would net 12.6 percent. The New York Times, the Los Angeles Times, ABC News and NBC News all reported that Bush's package produced the results CTJ calculated.
To deal with the criticism that his plan was a boon for millionaires, Bush devised an imaginary friend--a mythical single waitress who was supporting two children on an income of $22,000, and he talked about her often. He said he wanted to remove the tax-code barriers that kept this waitress from reaching the middle class, and he insisted that if his tax cuts were passed, "she will pay no income taxes at all." But when Time asked the accounting firm of Deloitte & Touche to analyze precisely how Bush's waitress-mom would be affected by his tax package, the firm reported that she would not see any benefit because she already had no income-tax liability.
As he sold his tax cuts from the White House, Bush maintained in 2001 that with his plan, "the greatest percentage of tax relief goes to the people at the bottom end of the ladder." This was trickery--technically true only because low-income earners pay so little income tax to begin with. As the Center on Budget and Policy Priorities put it, "a two-parent family of four with income of $26,000 would indeed have its income taxes eliminated under the Bush plan, which is being portrayed as a 100 percent reduction in taxes." But here was the punch line: The family owed only $20 in income taxes under the existing law. Its overall tax bill (including payroll and excise taxes), though, was $2,500. So that twenty bucks represented less than 1 percent of its tax burden. Bush's "greatest percentage" line was meaningless in the real world, where people paid their bills with money, not percentages.
Bush also claimed his tax plan--by eliminating the estate tax, at a cost of $300 billion--would "keep family farms in the family." But, as the New York Times reported, farm-industry experts could not point to a single case of a family losing a farm because of estate taxes. Asked about this, White House press secretary Ari Fleischer said, "If you abolish the death tax, people won't have to hire all those planners to help them keep the land that's rightfully theirs." Caught in a $300 billion lie, the White House was now saying the reason to abolish the tax--a move that would be a blessing to the richest 2 percent of Americans--was to spare farmers the pain in the bellybutton of estate planning. Bush's lies did not hinder him. They helped him win the first tax-cut fight--and, then, the tax-cut battle of 2003. When his second set of supersized tax cuts was assailed for being tilted toward the rich, he claimed, "Ninety-two million Americans will keep an average of $1,083 more of their own money." The Tax Policy Center of the Brookings Institution and the Urban Institute found that, contrary to Bush's assertion, nearly 80 percent of tax filers would receive less than $1,083, and almost half would pocket less than $100. The truly average taxpayers--those in the middle of the income range--would receive $265. Bush was using the word "average" in a flimflam fashion. To concoct the misleading $1,083 figure, the Administration took the large dollar amounts high-income taxpayers would receive and added that to the modest, small or nonexistent reductions other taxpayers would get--and then used this total to calculate an average gain. His claim was akin to saying that if a street had nine households led by unemployed individuals but one with an earner making a million dollars, the average income of the families on the block would be $100,000. The radical Wall Street Journal reported, "Overall, the gains from the taxes are weighted toward upper-income taxpayers."
David Corn. From 'Mastering the Art of Deception.'
