9.26.2010

Bush Era Tax Cuts

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Income: Over $200,000
Income Taxes Paid: $0
Being rich and powerful in the US: Priceless.
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Remember when the Fox/right-Wing propagandists were all wound-up over the fact that "50% of the people didn't pay any income tax". Well, I'm more pissed about the fact that since the Bush Tax cuts, 22,256 taxpayers with income OVER $200,000 paid $0 income tax. That's no tax. nothing. They made over $200,000 and paid $0. How the hell do you do that?

These 28,000 "taxpayers" made over four times as much as the average US household and paid nothing in income taxes. That number is up from around 3,000 "taxpayers" prior to the tax cuts. The Bush era tax cuts let about 20,000 rich people escape their tax liability completely.

This chart and other good Tax thoughts found here: Tax.com: So How Did the Bush Tax Cuts Work Out for the Economy?

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