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Originally Posted by GatorB
Yes and Bush said the rich needed tax cuts because they were paying 40% in taxes. Well now the highest rate is 35% thanks to Bush's tax cuts which Bush is in that bracket, but do the math. His taxes equal 25.5% of his adjusted gross income not 35%. Shows how they lie to get what they want. No one pays 40% taxes unless they're Bill Gates or Warren Buffet and well he don't need any fucking tax break. Even they say that.
$735,180 in adjusted gross income $187,768 in federal taxes. That's 25.5% not 35%. even under the OLD system he wouldn't have paid more than 30% of his income in taxes. Who here would bitch about 30% in taxes if they cleared over $500K a year afterward? I sure as hell wouldn't.
List his address as a PO Box in Chicago. I thought it was 1600 Pennsylvania Avenue in Washington DC?
http://i.a.cnn.net/cnn/2006/images/04/14/bush.taxes.pdf
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Because the tx rate was cut - more people are working. Moreover, the more that work , the more people spend, thus the government collects more income. Higher tax rate strangle the economy, not grow it.