Quote:
Originally posted by Double-J:
From my article at The American Patriot: The top tax rate (rich) dropped from 39.6% to 33% is a 6.6 point drop. The bottom rate (poor) dropped from 15% to 10%, a 5 point drop. Now, for those liberals and those in the media who choose to look no further than their noses, that's a 6.6 point drop for the rich, and a 5 point drop for the poor. Clearly, that's Bush's favoritism for the rich. Not so. 39.6 to 33 percent is a 16.6% reduction in taxes for the rich. 15 to 10 percent is a 33% reduction for those in the lower brackets. Most choose to ignore these figures though, and bash Bush for his "tax cuts to the rich."
Talk about misleading....

First of all, a reduction from 39.6% to 33% is a reduction of 15.15%, not 16.6%.

But that notwithstanding, let's take a closer look at those figures:

Code:
                                                                    
         Prev   Actual  New   Actual   Tax      Percent. of
         Tax    Taxes   Tax   Taxes    Dollars  Income
Income   Rate   Paid    Rate  Paid     Saved    Saved
-
100,000  39.6%  39,600  33.0% 33,000    6,600    6.6%
 20,000  15.0%   3,000  10.0%  2,000    1,000    5.0%
So yes, while it's true that the reduction in tax rates for the wealthy was smaller than that for the poor, they save a greater percentage of their income through these tax cuts than the poor do.

When being taxed at a rate of 39.6, the rich got to keep 60.4% of their income, or $604 per $1,000 earned.

Now they keep 67.0%, or $670 per $1,000 earned.

So they are keeping $66 more per $1,000 earned.

However,

When being taxed at a rate of 15.0%, the poor got to keep 85.0% of their income, or $850 per $1,000 earned.

Now they keep 90.0%, or $900 per $1,000 earned.

So the poor are getting to keep only an additional $50 more per $1,000 earned.

Seems to me that the rich are making out better here.

Talk about fuzzy math.....

Explain to me again how the poor make out better on this deal than the rich do.

"Difficult....not impossible"