Bush’s Tax Cuts for the Rich?

tax

Look at it for yourself. (HT: Dr. Greg Mankiw here.)

There is a article that Mankiw got this from here.This from Mr. J.T. Young:

“Despite liberal condemnation of the Bush tax cuts, virtually no one embraces a complete return to their pre-cut level — including the Democratic majority in Congress and both pending presidential nominees. There is good reason”

Then here is a CNN article on Mr. Obama’s tax plan:

“The tax relief plan he envisions for the middle class alone would mean $80 billion or more in tax cuts, he said.”

Last but not least John McCain’s tax plan from BNet here:

“John McCain’s tax plan may reasonably be described as Bush Lite. Like Bush, he cuts or eliminates the estate tax, the Social Security earnings test, and the marriage penalty; like Bush, he expands the tax credit for children. He falls short of Bush in cutting marginal tax rates: Where Bush cuts across the board, McCain only cuts rates for some people in the 28 percent tax bracket.”

I personally think that none of their tax plans do enough and Obama is at least trying to simplify the process which I believe is very important.

Winner: George W. Bush with good marginal tax rate cuts.

Loser: John McCain is trying to make his tax plan look like it is only for the rich and does nothing to simplify the code.

Word to Obama: if you made your tax plan more even like Bush’s you could draw over some tax-cutting Republicans.

~Marxsevelt

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Published in: on June 21, 2008 at 1:27 am  Comments (5)  
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5 CommentsLeave a comment

  1. Nice Site layout for your blog. I am looking forward to reading more from you.

    Tom Humes

  2. If you are going to post a graph, put some data in the axes and make it large enough to read.

  3. Sir, I think my colleague got this graph from an article.

  4. I think the graph misses the point the Democrats have been making, over and over and over and over and over again for the last eight years. The Bush tax cuts were tilted toward the very top – the top 1%. http://www.cbsnews.com/stories/2004/08/13/politics/main635936.shtml

    Looking at the top quintile misses this. After all this time, I would figure people would ACTUALLY ADDRESS the point. It also misses the point that 4% in the higher brackets has a greater effect, in both purchasing power and overall tax burden, than a 4% shift in the lower brackets.

  5. sexy costumes…

    this is why i always pick my nose….


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