Thursday, February 14, 2008

TAXES - CLINTON VS BUSH YEARS

No presidential candidate has been successful with the promise to raise taxes. The last to try was Walter Mondale, who then promptly lost 49 states.

Every current democrat candidate has, this time, promised to raise taxes, explicitly or by not extending the current Bush tax cuts.

Democratic Congressmen have also promised to not extend the Bush "tax cuts for the rich".

Wonder how many voters can be scammed into giving more of their paycheck back to the IRS?

Based on using the actual tax tables (view data source via title link or below), here are some examples on what the taxes were/are on various amounts of income for both singles and married couples. so let's see if the Bush tax cuts only helped the rich.

Taxes under Clinton 1999 vs. 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

If you want to know just how effective the mainstream media is, consider these figures. It is amazing how many people that fall into the categories above think Bush is screwing them and that Bill Clinton was the greatest President ever. If any democrat is elected, they all promise to repeal the Bush tax cuts - and a good portion of the people that fall into the categories above can't wait for it to happen.

eerily reminiscent of "The Sting" - the secret is to scam people out of their money in a fashion that they don't even realise what has happened.

note: thanks to James for the data!...T
Click here for full article

3 Comments:

ahnree said...

At least clinton spent the money for the better. He had a surplus of 8 Trillion before bush decided to waste all of that. Do more research before you send out information like this.

Clinton reported a surplus of $559 billion at the end of his presidency, based on Congressional accounting rules. Hmmm, what is W's surplus??? Clinton left office with a 65% approval rating, the highest end-of-presidency rating of any President who came into office after World War II. W's????

Taxes under Bush Senior (1991), looks like clinton to me...

Single making 30K - tax 25% = $7500
50K - 31% = $15, 000
75K - 31 % = $23, 250

Married (exact same as clinton):
60K - 28% = $16,800
75K - 28% = $21, 000
125K - 31 % = $38,725

During the eight years of the Clinton Administration -- which, by the way, raised taxes -- about 23 million jobs were created, which comes out to about 240,000 jobs per month. By comparison, only a net of 5.6 million jobs have been created during the Bush years, which comes out to about 71,000 per month. Even taking away the job losses caused by a recession and the 9/11 terrorist attacks, the Bush years come up short: In the 47 consecutive months of job growth since the fall of 2003, the per-month average has been about 177,000 jobs.

Navitor69 said...

A truly uninformed commentary -

In the 1st place, who was talking about Bush the Elder? he raised taxes almost as much as Clinton did. But again your fact are false, blatently so. Clinton nevr ever reduced tax rates, the 28% etc you use are transposed, the reverse is the truth - don't get them from daily Kaos!

secondly - The facts are indisputabe - Taxes were much higher on EVERYONE under Clinton, as the statistics in this post prove conclusively

3rd - the Clinton era dot-com bubble bursting, and the terror attacks of 9/11 devastated our economy - it could have been really bad, but for the Bush tax cuts, interest rate cuts, and anti-terrorism insurance liability that Bush was responsible for. You mention none of these facts.

4th - you job creation "facts" are totally fictitios. You can do better

Finally - since when are presidents judged historically by approval ratings? Was Harry Truman popular? History is a better discipline than the DailyKos garbage, it will expand your mind. Lincoln was the most unpopular president in History - ever!

As to Budget Surpluses, again, you are economically uninformed. Clinton created the Recession of 2000 -2002 with over taxation, over regulation, and excessive criminalization of business. Not to mention he was entirely negligent on the issue of terrorism, and bears substantial responsibility for the weakness that lead to 9/11 - and the e conomic problems this caused

Jimmy said...

I regret to inform you that the data you present are wrong. The numbers here are calculated using the marginal tax rate, which in reality is applied only to income above the last threshold.

Did you honestly believe that a single person making 30k a year was taxed $8400 by the federal government in 1999? Apparently you did.

So who is being "scammed" here?