http://www.washingtonpost.com/wp-dyn/articles/A48564-2003May28.htmlhow many errors in one article is okay?
..the third-largest tax cut in the nation's history comes a day..
(in whole dollars not % of GDP Reagan 3.3%: Kennedy 2.8%: Bush first cut 1.0% second cut .5% in addition Bush’s are over 10 years the others where all in one year.)
..and will go in part to help pay for the new tax cuts that the ..
(tax cuts are not PAID for. Programs are paid for. When we send less money to congress the don’t pay for it.)
..After running annual surpluses during the last four years of the Clinton administration ..
(only after the house was taken over by Republicans and they held down spending the best they could even though budgets increase 8% annually)
..Democrats also have criticized the package as a giveaway to the wealthy, stressing its cuts on taxes on capital gains and corporate dividends rather than its lower income tax rates and increases in the federal child credit. Frist dismissed that emphasis as "the old, worn-out, tired, class warfare issue."..
( 70% elderly hold pensions invested in market that pay dividends, further more the wealth pay taxes the poor don’t. This also implies that Demarcates only do well political when the country dose poorly economically. )
On October 24 of last year the Joint Economic Committee released the latest IRS data for 2000. Here’s the table:
> Top 1%: Adjusted Gross Income of more than $313,469 pays 37.42 percent of all income tax collected
> Top 5%: $128,336 pays 56.47 percent
> Top 10%: $92,144, pays 67.33 percent
> Top 25%: $55,225 pays 84.01 percent
> Top 50%: $27,682, pays 96.09 percent
> Bottom 50%: less than $27,682 pays a mere 3.91 percent
For the press release with those numbers:
http://www.house.gov/jec/press/2002/10-24-02.htmFor six pages of detailed IRS tables, in PDF format:
http://www.house.gov/jec/press/2002/irs2.pdf..As Bush traveled widely to sell his package, he portrayed the ailing economy as something he inherited, taking care to mention that the recession took place in 2001's first three quarters - the beginning of his presidency. ..
(the market ballooned in the end of 1999, see any chart of the DOW, and then it rolled over on March 12th 2000 it then proceeded to slide 78% before Bush took office. This is with out question Clinton’s economy)
..But after a $1.35 trillion tax cut in 2001, a $96 billion stimulus last fall and the new $350 billion package, it is widely agreed that Bush now has ownership of the economy for better or for worse...
(a gain a failure to mention this is over 10 years. Divide his total cuts by 10 and you get a 26 billion a year tax cut so how do we get 900+ billion deficits from that? Answer SPENDING)
..Democrats hope the economy will help them score politically. They repeatedly highlight the job losses over Bush's term..
(This also implies that Demarcates only do well political when the country dose poorly economically. Nice people)
