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The Straight Truth About the Bush Economy
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<blockquote data-quote="Tyrone Slothrop" data-source="post: 77795" data-attributes="member: 4701"><p>The point is, things aren't necessarily as rosey in the economy as Bush makes out. It will be interesting to see the spin he puts on it tonight. I don't believe that anyone was belittling the $200k wage earner. I do however, wonder why a banker is given a $135,000,000 parachute when he already has nearly $500,000,000 in holdings. Now if he found the cure for cancer or AIDS, maybe he might be worth that insane amount of money. The disparity in income has never been greater in this country, and that's not a good thing.</p><p></p><p>Try to deal with real numbers:</p><p> Our society had 111 million males over age fifteen in the year 2004. 57 million, or slightly more than half, earned under $27,000 in that year.</p><p> 81 million or roughly three-quarters of our 111 million total headcount earned less that $45,000 in 2004. 4.5 million earned over $115,000, and less than 1 million make over $250,000.</p><p></p><p>I can supply the figures for women as well, but they are not as high, as you might imagine.</p><p></p><p>Tieguy, if you don't want to pay taxes, may I suggest Mexico as a place you may want to consider relocating to. Of course the things you take for granted here may not be what you're used to. Potable water, reliable electricity and a relatively honest police force come to mind immediately, but the tax rate is great! I would say that the 33% federal tax rate leaves the high income earner in a better position than the 15% rate for the low income earner, remember that doesn't include SS, FICA or local taxes, and any reduction for deductibles, which the low income earner probably doesn't have. If I made $200k/yr, I would consider 33% to be a bargain.</p></blockquote><p></p>
[QUOTE="Tyrone Slothrop, post: 77795, member: 4701"] The point is, things aren't necessarily as rosey in the economy as Bush makes out. It will be interesting to see the spin he puts on it tonight. I don't believe that anyone was belittling the $200k wage earner. I do however, wonder why a banker is given a $135,000,000 parachute when he already has nearly $500,000,000 in holdings. Now if he found the cure for cancer or AIDS, maybe he might be worth that insane amount of money. The disparity in income has never been greater in this country, and that's not a good thing. Try to deal with real numbers: Our society had 111 million males over age fifteen in the year 2004. 57 million, or slightly more than half, earned under $27,000 in that year. 81 million or roughly three-quarters of our 111 million total headcount earned less that $45,000 in 2004. 4.5 million earned over $115,000, and less than 1 million make over $250,000. I can supply the figures for women as well, but they are not as high, as you might imagine. Tieguy, if you don't want to pay taxes, may I suggest Mexico as a place you may want to consider relocating to. Of course the things you take for granted here may not be what you're used to. Potable water, reliable electricity and a relatively honest police force come to mind immediately, but the tax rate is great! I would say that the 33% federal tax rate leaves the high income earner in a better position than the 15% rate for the low income earner, remember that doesn't include SS, FICA or local taxes, and any reduction for deductibles, which the low income earner probably doesn't have. If I made $200k/yr, I would consider 33% to be a bargain. [/QUOTE]
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