[Vision2020] Dick Cheney's 2003 tax savings larger than your annual income.
Ron Force
rforce@moscow.com
Tue, 13 Apr 2004 13:21:35 -0700
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I read somehwere else that the average tax savings of the Bush cabinet =
was about the same as the median U.S. family income ($45K).
For more on taxes see Matthew Miller's column in the LA Times =
(registration required, but free).
http://www.latimes.com/news/opinion/commentary/la-oe-miller13apr13,1,1292=
628.story?coll=3Dla-news-comment-opinions
"...Conservatives love to cite facts like these: The top 5% of taxpayers =
pay more than half of federal income taxes; the top 1% pay more than a =
third all by themselves; and the bottom 80% of earners pay less than =
20%...
...But this is not the full picture. Any fair-minded person should want =
to know two other things: What percent of total income do these =
different slices of earners actually earn; and what share of total =
federal taxes, not just income taxes, do they pay?
The conservative worldview inexplicably ignores the payroll tax =
=E2=80=94 predominantly the FICA deductions for Social Security and =
Medicare =E2=80=94 as well as excise taxes on things like liquor, =
gasoline and tobacco. Those taxes take their biggest bite, =
proportionally, from lower-income Americans...
...When you look at who pays what based on total federal taxes, the =
United States doesn't look much like an Ayn Rand novel after all.
The top 1% of American taxpayers earn 17% of the income and pay 23% of =
total federal taxes; the top 5% earn 31% of the income and pay 40% of =
the taxes; the bottom 80% of the earners make 41% of the income and pay =
31% of the taxes. These numbers are from 2001, the most recent available =
data; Bush's tax cuts have since made the burden on top earners lower. =
In other words, for all the conservative whining, we have a modestly =
progressive federal tax system..."
**********************************************
Ron Force Moscow ID USA
rforce@moscow.com
**********************************************=20
-----Original Message-----
From: vision2020-admin@moscow.com =
[mailto:vision2020-admin@moscow.com]On Behalf Of Joan Opyr
Sent: Tuesday, April 13, 2004 12:10 PM
To: Vision2020 Moscow
Subject: [Vision2020] Dick Cheney's 2003 tax savings larger than your =
annual income.
Dear Visionaries:
Forwarding from http://www.salon.com. Dick Cheney will pay $88,047 =
less in federal taxes this year than he paid last year. Yay, tax cuts. =
Woo, woo. Woo. Wuh. (Just for fun, try dividing that number by your =
own salary, remembering to subtract for the UI pay lag, and then =
calculate your square root of aggravation. Got enough for that trip to =
the moon, Alice? Bang, zoom!) =20
BTW, of particular interest to me is the fact that the Cheneys =
reported $477,874 more in income than the Bushes, but their effective =
annual tax rate was 8% less. Come on, Dick -- stop holding out on =
George. Let that clever tax planner out of the secret bunker and send =
him on over to the White House.
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<DIV>
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2></FONT></DIV><SPAN class=3D781054819-13042004>I read somehwere =
else that=20
the average tax savings of the Bush cabinet was about the same as the =
median=20
U.S. family income ($45K).</SPAN></DIV>
<DIV><SPAN class=3D781054819-13042004></SPAN> </DIV>
<DIV><SPAN class=3D781054819-13042004><FONT face=3Dverdana>For more on =
taxes see=20
Matthew Miller's column in the LA Times (registration required, but=20
free).</FONT></SPAN></DIV>
<DIV><SPAN class=3D781054819-13042004></SPAN> </DIV>
<DIV><SPAN class=3D781054819-13042004><FONT face=3Dverdana><A=20
href=3D"http://www.latimes.com/news/opinion/commentary/la-oe-miller13apr1=
3,1,1292628.story?coll=3Dla-news-comment-opinions">http://www.latimes.com=
/news/opinion/commentary/la-oe-miller13apr13,1,1292628.story?coll=3Dla-ne=
ws-comment-opinions</A></FONT></SPAN></DIV>
<DIV><SPAN class=3D781054819-13042004><FONT=20
face=3Dverdana></FONT></SPAN> </DIV>
<DIV><SPAN class=3D781054819-13042004><FONT =
face=3Dverdana>"...Conservatives love to=20
cite facts like these: The top 5% of taxpayers pay more than half of =
federal=20
income taxes; the top 1% pay more than a third all by themselves; and =
the bottom=20
80% of earners pay less than 20%...</FONT></SPAN></DIV>
<DIV><SPAN class=3D781054819-13042004></SPAN> </DIV>
<DIV><SPAN class=3D781054819-13042004><FONT face=3Dverdana>...But this =
is not the=20
full picture. Any fair-minded person should want to know two other =
things: What=20
percent of total income do these different slices of earners actually =
earn; and=20
what share of total federal taxes, not just income taxes, do they=20
pay?</FONT></SPAN></DIV>
<DIV> </DIV>
<DIV><SPAN class=3D781054819-13042004><FONT face=3Dverdana>The =
conservative=20
worldview inexplicably ignores the payroll tax =E2=80=94 predominantly =
the FICA=20
deductions for Social Security and Medicare =E2=80=94 as well as excise =
taxes on things=20
like liquor, gasoline and tobacco. Those taxes take their biggest bite,=20
proportionally, from lower-income Americans...</FONT></SPAN></DIV>
<DIV><SPAN class=3D781054819-13042004></SPAN> </DIV>
<DIV><SPAN class=3D781054819-13042004><FONT face=3Dverdana>...When you =
look at who=20
pays what based on total federal taxes, the United States doesn't look =
much like=20
an Ayn Rand novel after all.</FONT></SPAN></DIV>
<DIV> </DIV>
<DIV><SPAN class=3D781054819-13042004><FONT face=3Dverdana>The top 1% of =
American=20
taxpayers earn 17% of the income and pay 23% of total federal taxes; the =
top 5%=20
earn 31% of the income and pay 40% of the taxes; the bottom 80% of the =
earners=20
make 41% of the income and pay 31% of the taxes. These numbers are from =
2001,=20
the most recent available data; Bush's tax cuts have since made the =
burden on=20
top earners lower. In other words, for all the conservative whining, we =
have a=20
modestly progressive federal tax system..."</FONT></SPAN></DIV>
<DIV><SPAN class=3D781054819-13042004></SPAN> </DIV>
<DIV> </DIV>
<P>**********************************************<BR>Ron=20
Force Moscow =
ID <SPAN=20
class=3D781054819-13042004>USA</SPAN></P>
<P> <A href=3D"mailto:rforce@moscow.com">rforce@<SPAN=20
class=3D781054819-13042004>moscow.com</A></SPAN><BR><BR>*****************=
*****************************=20
</P>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT=20
face=3DTahoma>-----Original Message-----<BR><B>From:</B>=20
vision2020-admin@moscow.com [mailto:vision2020-admin@moscow.com]<B>On =
Behalf=20
Of </B>Joan Opyr<BR><B>Sent:</B> Tuesday, April 13, 2004 12:10=20
PM<BR><B>To:</B> Vision2020 Moscow<BR><B>Subject:</B> [Vision2020] =
Dick=20
Cheney's 2003 tax savings larger than your annual =
income.<BR><BR></FONT></DIV>
<DIV>Dear Visionaries:</DIV>
<DIV> </DIV>
<DIV>Forwarding from <A=20
href=3D"http://www.salon.com">http://www.salon.com</A>. Dick =
Cheney will=20
pay $88,047 less in federal taxes this year than he paid =
last=20
year. Yay, tax cuts. Woo, woo. Woo. Wuh. =
(Just=20
for fun, try dividing that number by your own salary, remembering =
to=20
subtract for the UI pay lag, and then calculate your square root of=20
aggravation. Got enough for that trip to the moon, Alice? =
Bang,=20
zoom!) </DIV>
<DIV> </DIV>
<DIV>BTW, of particular interest to me is the fact that the Cheneys =
reported=20
$477,874 more in income than the Bushes, but their effective =
annual tax=20
rate was 8% less. Come on, Dick -- stop holding out on=20
George. Let that clever tax planner out of the secret bunker and =
send=20
him on over to the White House.</DIV>
<DIV><FONT =
face=3Dverdana></FONT> </DIV></BLOCKQUOTE></BODY></HTML>
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