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The Democratic Tax increase in terms you can readily understand
Posted by: McQ on Friday, April 20, 2007

As you remember, I posted about the Democrat's "largest tax increase in history" and used Sen. John Thune's (R-SD) speech on the floor of the Senate to highlight that cost.

Sen Thune went through a whole presentation using a form 1040 and showed us where taxes were being raised and what that meant in terms of dollars. He ended his presentation by saying they had run the numbers and for a average South Dakota family the increase was about $2,500.

He could have simplified that even more had he known about John Edwards:
His campaign spending reports, required by the Federal Election Commission, revealed that he has been paying $400 for haircuts by a Beverly Hills cutter named Joseph Torrenueva.
Yes, he could have ended his presentation by pointing out that the average taxpayer was going to get stuck with about $2,500 increased taxes or approximately 6 John "Two Americas" Edwards haircuts.
 
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The average American is going to see his or her taxes rise by $250 or less....let’s be honest the average American doesn’t pay much in taxes, income taxes at least. Now the Upper Income brackets are going to pay a lot more....

Yes I know trickle down and all that, I agree it will AFFECT the aforementioned Average American, but not in his or her pocket book, directly.
 
Written By: Joe
URL: http://
We should price government programs based on the price of John Edward’s haircuts. One ‘Johncut” would equal 400-dollars. A lobbyist who buys his congressman a 12-hundred buck bottle of Champagne would have spent 3 Johnccuts. By counting in Johncuts everything seems cheaper. Would you rather pay 20-thousand in income taxes or 50 Johncuts. The change couldn’t harm anything,the Dollar is on the “Tin Foil” standard, heading for the Ball of String”
 
Written By: James E. Fish
URL: http://faroutfishfiles.blogspot.com/
Um, actually, we pay a metric butt-ton, on average.

Just because they take a little out every week doesn’t mean you aren’t getting bleed dry Joe...
 
Written By: Scott
URL: http://
Oh, and the upper 10% pay WAY over 50% of our taxes, and when you get to about the top %, the number is (IIRC) around 75% of our private citizen tax burden...

Just because someone’s rich (By the Democrat deffinition *I* am rich) doesn’t mean they deserve a tax bracket in the high 50%...
 
Written By: Scott
URL: http://
He ended his presentation by saying they had run the numbers and for a average South Dakota family the increase was about $2,500.—Sen Thune
The average American is going to see his or her taxes rise by $250 or less. —Joe
So who’s right?

Or does SD pay 10 times the national average?

 
Written By: Don
URL: http://
Very Wall Street, the taxpayers "taking a haircut" (or six).
 
Written By: Tom
URL: http://
Very Wall Street, the taxpayers "taking a haircut" (or six).
But it’s more like a Britney Spears haircut than a John Edwards.
 
Written By: steverino
URL: http://steverino.journalspace.com/
He ended his presentation by saying they had run the numbers and for a average South Dakota family the increase was about $2,500.—Sen Thune

The average American is going to see his or her taxes rise by $250 or less. —Joe
So who’s right?
Or does SD pay 10 times the national average?
We BOTH are. Thune is taking all the extra money flowing in from the proposed tax increase and then dividing by the total number of tax payers. Giving the AVERAGE tax increase, total amount/total payer...

I’m simply saying that most of us, myself included,-or at least 40% of us- get a Tax Refund, and so pay NO INCOME TAX. Therfore our taxes will NOT rise. The person who’s going to take it in the shorts is the person in the top 1%. THEIR tax bite is going to jump!

So Don, both staements are true, you and I won’t see our taxes jump muich, if at all, but the AVERAGE tax payer-the payer of the AVERAGE Tax Rate, will. Only the Average Tax Payer doesn’t exist.
 
Written By: Joe
URL: http://
- Democrat’s "largest tax increase in history"

...

The Democratic Party is not raising taxes. The Republicans are. The Republicans are raising taxes to pay for the massive deficit they created. Just because the American people realized they needed to elect Democrats to clean up the fiscal mess created by the Republicans doesn’t mean you get to blame the mess on the Democratic party.
 
Written By: C.S.Strowbridge
URL: http://
"Oh, and the upper 10% pay WAY over 50% of our taxes, and when you get to about the top %, the number is (IIRC) around 75% of our private citizen tax burden..."

http://media3.washingtonpost.com/wp-dyn/content/graphic/2007/04/13/GR2007041301521.gif

As a percentage, people who make $50,000 a year pay just over what people who make $150,000 a year.
 
Written By: C.S.Strowbridge
URL: http://
"most of us, myself included,-or at least 40% of us- get a Tax Refund, and so pay NO INCOME TAX" -
Joe,
I feel so sorry for you not only do you not understand tax law but you don’t understand that a Tax Refund just means the government took too much over the course of the last year. Honest - heres a tip - go to your HR rep and ask to increase your deductions to "10". This will give you an immediate pay increase and then you can check out your refund.
 
Written By: Bill
URL: http://
Share (estimated) of Tax Liabilties under current Federal Law can be found here:
http://www.cbo.gov/showdoc.cfm?index=5746&sequence=1#table2

The top quintile pays about 64% of the total federal taxes and about 80% of the federal income taxes.
The top 10% pays about 48% and 65% of each
The top 5% pays about 37% and 52% of each
The top 1% pays about 21% and 32% of each

The bottom 60% pays less than 20% of total federal taxes and under 10% of Federal income taxes (the bottom 20% pays negative Federal Income Taxes).

See tables for actual percentages, those I give are roughly averaged by looking at the past several years.
 
Written By: anonymous
URL: http://
Gee Bill it’s a pity YOU don’t understand tax law....I can claim FEWER deductions than legal, but I can not claim MORE than my legal deductions....I could claim myself or I could claim 0, but I can not LEGALLY claim 10.

But I understand how taxes work....And it comes down, BOTTOM-LINE, that I pay NO taxes, income....Well OK that’s not true, but I have over-payed and your point is true, too. But if my tax liability doubles, will I really see a change in my income? Answer, no I’ll just get a smaller refund.

Please note: I’m not one of the guys "proud to be an American on Tax Day" or complaining aobut Republican deficits and the need for increases.

I’m just pointing out that Thune is playing semantic games, the AVERAGE taxpayer doesn’t exist, and the MODAL tax payer probably will not their taxes increase anywhere near $2,500. And when we make these sort of simple arguments Kos and others will tear us apart.

Bottom-line: Argue well, for assuredly your opponent will...
 
Written By: Joe
URL: http://
"Share (estimated) of Tax Liabilties under current Federal Law can be found here:"

So what? These are meaningless without knowing the percent of total income.
 
Written By: C.S.Strowbridge
URL: http://
Joe, somewhere out there, there is a taxpayer whose situation is so close to average that the difference between what will happen to them and what Thune is saying is best measured in mils.

Pull your head out of your a$$.

It is perfectly reasonable for Thune to speak of what will happen to the average taxpayer, there’s probably a million people in this country whose tax bills will do just what Thune is talking about to within a handful of percent.

And no a refund means nothing at all like you didn’t owe a tax this year, not even slightly.
"But if my tax liability doubles, will I really see a change in my income? Answer, no I’ll just get a smaller refund."
Unless you’re having more than twice what you need to have withheld, withheld, you’d be cutting them a check.

Yours, TDP, ml, msl, & pfpp
 
Written By: Tom Perkins
URL: http://

 
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