Who Really Benefits from a Middle-Class Tax Cut?
If the "snowman" chart didn't get through to your wingnut brother-in-law, here's the same information in a different style.
From Kevin Drum:
Speaking of tax cuts, I thought everyone should see a nice picture that compares the Obama position with the Republican position. As you can see, under the Obama plan (in blue) everyone gets a tax cut. According to the Joint Committee on Taxation, your average middle class household gets a cut of $916. An upper middle class household gets $3,766. A millionaire household gets $6,349. Money for everyone!
But that's not enough. The red lines roughly show the additional tax cuts under the Republican plan. Everyone making up to $250,000 gets nothing. But the tiny number of households above that threshold get huge pots of money, and the pots get bigger the more money they make. I don't have enough room on the blog to show it properly, but millionaire households get an extra $100,000 or so over and above what they'd get from Obama's broad tax cut.
That's what we're fighting over: a broad tax cut with something for everybody, or a broad tax cut plus an extra bonus for the upper middle class and an extra super duper bonus for the millionaire class. That's what the Republican Party has unanimously staked its future to.
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1 comment:
This is nothing new under the sun -- it's simple math regarding percentages/proportions.
How about generating a similar chart showing which groups of Americans *PAY* the most taxes? You'll see the exact same style of chart -- those making very little pay very small taxes in absolute dollars, while millionaires pay tens if not hundreds of thousands. It's a pretty simple concept that X% of a larger number is more than the same X% of a smaller number.
Going by Obama's proposal merely punishes people for working hard and being successful -- not exactly what one should want to see in a true free republic. In fact, punishing those who've worked hard to succeed and become well-off... is simply another case of liberal-backed class warfare. Somehow I thought we'd gotten past this, but apparently not.
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