The Truth About Taxes Under Clinton, and Bush

[NOTAGUNNUT]

Check out this link: http://www.taxfoundation.org/publications/show/151.html


Taxes under Clinton 1999--------------- Taxes under Bush 2008
Single making 30K ¬ tax $8,400---------- Single making 30K ¬ tax $4,500
Single making 50K ¬ tax $14,000--------- Single making 50K ¬ tax $12,500
Single making 75K ¬ tax $23,250--------- Single making 75K ¬ tax $18,750
Married making 60K ¬ tax $16,800-------- Married making 60K ¬ tax $9,000
Married making 75K ¬ tax $21,000-------- Married making 75K ¬ tax $18,750
Married making 125K ¬ tax $38,750------- Married making 125K ¬ tax $31,250


So....given that... do we want a Democrat, or a Republican for a President?

[MrRational]

Originally Posted by NOTAGUNNUT

]So....given that... do we want a Democrat, or a Republican for a President?

Avoiding the nitty gritty questions of how the numbers were generated... my answer is it depends on who and how the different shortfalls (debt/deficit) are to be made up.

You DO realize the deficits and debts will have to be made up... don't you?

[NOTAGUNNUT]

Originally Posted by MrRational

Avoiding the nitty gritty questions of how the numbers were generated... my answer is it depends on who and how the different shortfalls (debt/deficit) are to be made up.

You DO realize the deficits and debts will have to be made up... don't you?

Since many people already work three, to four months just to pay taxes I suggest we start cutting into spending... WITH A MACHETE!

[redleg]

Originally Posted by NOTAGUNNUT

Since many people already work three, to four months just to pay taxes I suggest we start cutting into spending... WITH A MACHETE!

Nah, at this point you need a bushhog, mabe a dozer.

[Rocketwolf]

Originally Posted by MrRational

Avoiding the nitty gritty questions of how the numbers were generated... my answer is it depends on who and how the different shortfalls (debt/deficit) are to be made up.

You DO realize the deficits and debts will have to be made up... don't you?

Not in a long time with both parties in a race to spend more and more.

[Mighty Wotan]

Originally Posted by MrRational

You DO realize the deficits and debts will have to be made up... don't you?

Most of them don't. Depending on which faction of the Republican Party they line up with, they either think that deficits don't matter or that the Rapture is going to come take them away before any of the bills come due.

This is why I have given up, for the time being, on the Republican Party.

[NOTAGUNNUT]

Originally Posted by Mighty Wotan

Most of them don't. Depending on which faction of the Republican Party they line up with, they either think that deficits don't matter or that the Rapture is going to come take them away before any of the bills come due.

This is why I have given up, for the time being, on the Republican Party.

...and with Democrats new revenue always goes to new programs, and new spending as opposed to acutally paying down the debt.

[pb]

When they borrow or print money to pay for things, it is merely a hidden tax that doesn't show up in a chart like yours but does show up in the cost of things. What about bracket creep caused by inflation? When you throw inflation into the equation, it looks like we were better off under TAft.

[Cameron]

Originally Posted by NOTAGUNNUT

Check out this link: http://www.taxfoundation.org/publications/show/151.html


Taxes under Clinton 1999--------------- Taxes under Bush 2008
Single making 30K ¬ tax $8,400---------- Single making 30K ¬ tax $4,500
Single making 50K ¬ tax $14,000--------- Single making 50K ¬ tax $12,500
Single making 75K ¬ tax $23,250--------- Single making 75K ¬ tax $18,750
Married making 60K ¬ tax $16,800-------- Married making 60K ¬ tax $9,000
Married making 75K ¬ tax $21,000-------- Married making 75K ¬ tax $18,750
Married making 125K ¬ tax $38,750------- Married making 125K ¬ tax $31,250
So....given that... do we want a Democrat, or a Republican for a President?

1999

The Tax Foundation's claim of ever-increasing tax burdens is in direct contradiction to evidence from the two leading sources of tax information for Congress — the Congressional Budget Office and the Joint Committee on Taxation.

The federal tax burden the Tax Foundation says families pay on average is about 28 percent larger than the federal tax burden that CBO estimates the typical family bears and about 51 percent larger than the federal tax burden the Joint Tax Committee estimates the typical family bears.

Taxes have been declining for families in the middle of the income spectrum.

The Tax Foundation's use of averages substantially exaggerates middle-class tax bills.

The Tax Foundation's methodology contains other shortcomings that make taxes look larger as a percentage of income than they are. The Foundation counts as taxes items that are not taxes. These include: optional Medicare premiums that older Americans pay if they wish to receive coverage for physician's services under Medicare; intra-governmental transfers that are solely bookkeeping devices and not taxes; employee and employer contributions to state and local government pension plans, some of which results in the double-counting of taxes; and rental payments that individuals or businesses pay to state or local governments to rent property those governments own.

In fact, the CBO data indicate that families in the middle of the income spectrum will pay 5.4 percent of income in federal individual income tax this year. In the Tax Foundation's terms, that means it will take only until January 20 for the typical household to pay its federal income taxes.

http://www.cbpp.org/5-10-99tax2.htm

[newpoppop]

Originally Posted by NOTAGUNNUT

Check out this link: http://www.taxfoundation.org/publications/show/151.html


Taxes under Clinton 1999--------------- Taxes under Bush 2008
Single making 30K ¬ tax $8,400---------- Single making 30K ¬ tax $4,500
Single making 50K ¬ tax $14,000--------- Single making 50K ¬ tax $12,500
Single making 75K ¬ tax $23,250--------- Single making 75K ¬ tax $18,750
Married making 60K ¬ tax $16,800-------- Married making 60K ¬ tax $9,000
Married making 75K ¬ tax $21,000-------- Married making 75K ¬ tax $18,750
Married making 125K ¬ tax $38,750------- Married making 125K ¬ tax $31,250


So....given that... do we want a Democrat, or a Republican for a President?

From the Washington Post:

The numbers in the Economic Report of the President undermine both theories. Spending goes up faster under Republican presidents than under Democratic ones. And the economy grows faster under Democrats than Republicans. What grows faster under Republicans is debt.
Under Republican presidents since 1960, the federal deficit has averaged $131 billion a year. Under Democrats, that figure is $30 billion. In an average Republican year, the deficit has grown by $36 billion. In the average Democratic year it has shrunk by $25 billion. The national debt has gone up more than $200 billion a year under Republican presidents and less than $100 billion a year under Democrats.
As for measures of general prosperity, each president inherits the economy. What counts is what happens next. Let's take just two measures, although they all show the same thing: Democrats do better under every variation. From 1960 to 2005 the gross domestic product measured in year-2000 dollars rose an average of $165 billion a year under Republican presidents and $212 billon a year under Democrats. Measured from 1989, or measured with a one-year delay, or both, the results are similar. And how about this one? The average annual rise in real per capita income -- that's the statistic that puts money in your pocket. Democrats score about 30 percent higher.
Democratic presidents have a better record on inflation (averaging 3.13 percent compared with 3.89 percent for Republicans) and on unemployment (5.33 percent versus 6.38 percent). Unemployment went down in the average Democratic year, up in the average Republican one. [emphasis added]

Repub, or Dem? You decide.

[newpoppop]

Bump for those who were asleep and those in denial.

[Calamari]

Oh, no, you ruined a right wing speaking point with pesky facts. However will nota spin this away?

[NOTAGUNNUT]

Originally Posted by newpoppop

Bump for those who were asleep and those in denial.

except that under Clinton we had Republicans in Congress doing the (less)spending.

[BSCSMD]

Originally Posted by NOTAGUNNUT

Check out this link: http://www.taxfoundation.org/publications/show/151.html


Taxes under Clinton 1999--------------- Taxes under Bush 2008
Single making 30K ¬ tax $8,400---------- Single making 30K ¬ tax $4,500
Single making 50K ¬ tax $14,000--------- Single making 50K ¬ tax $12,500
Single making 75K ¬ tax $23,250--------- Single making 75K ¬ tax $18,750
Married making 60K ¬ tax $16,800-------- Married making 60K ¬ tax $9,000
Married making 75K ¬ tax $21,000-------- Married making 75K ¬ tax $18,750
Married making 125K ¬ tax $38,750------- Married making 125K ¬ tax $31,250


So....given that... do we want a Democrat, or a Republican for a President?

But the Left keeps telling us the Bush is screwing the Middle Class...

Am I missing something here?

[Calamari]

Yes, you are missing every post after that one.

[AttackPlanR]

Nuff said.

But hey, what are facts when the 28%ers are kneeling and bobbing on the "Conservative" in office?

[Dave A.]

The simple fact is higher taxes, by definition, slows growth. Democrats clearly are the party for higher taxes.

The fact that the economy boomed under Clinton is primarily coincidence, and in many ways the economy since then has been paying for those good times.

I suggest one actually try to explain the cause and effect in terms of economic performance, rather than simply parrot numbers without understanding.

I can state a general one, you lower taxes, the economy grows faster.

[David]

Originally Posted by NOTAGUNNUT

Check out this link: http://www.taxfoundation.org/publications/show/151.html


Taxes under Clinton 1999--------------- Taxes under Bush 2008
Single making 30K ¬ tax $8,400---------- Single making 30K ¬ tax $4,500
Single making 50K ¬ tax $14,000--------- Single making 50K ¬ tax $12,500
Single making 75K ¬ tax $23,250--------- Single making 75K ¬ tax $18,750
Married making 60K ¬ tax $16,800-------- Married making 60K ¬ tax $9,000
Married making 75K ¬ tax $21,000-------- Married making 75K ¬ tax $18,750
Married making 125K ¬ tax $38,750------- Married making 125K ¬ tax $31,250


So....given that... do we want a Democrat, or a Republican for a President?

All I know is is that Bush has or is going to give me a total of 2, count 'em, 2 tax rebates. WOOHOO!

[AttackPlanR]

Originally Posted by David

All I know is is that Bush has or is going to give me a total of 2, count 'em, 2 tax rebates. WOOHOO!

Tell me about it. Creating something from nothing certainly makes the economy grow. Poof, here, have a few billion dollars.

Heck, you can never have too many dollars out there.

[David]

Originally Posted by AttackPlanR

Tell me about it. Creating something from nothing certainly makes the economy grow. Poof, here, have a few billion dollars.

Heck, you can never have too many dollars out there.

Hey, it's worked before. Remember those countries in the past where a wheelbarrow of money could buy a loaf of bread?