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What happened to the Bush tax cuts for the rich?
So, if Obama refers to the rich as anyone earning over $250K, where did the Bush tax cuts go?
Mostly to the wealthy, right? What percentage went to those earning over $250K? 50%, 75$, 90%?
How much of the "tax cuts for the rich" went to the rich?
I expected more answers that this, but the INCORRECTNESS from the left did not surprise me.
justagrandma...I am VERY GLAD that his estate was not taxed. He paid BILLIONS while he was alive!
Anyway, the wealthy...according to Obama's definition of those earning $250K or less got a whopping FIFTEEN PERCENT...(15%) of the tax cuts. The middle class and poor received EIGHTY FIVE PERCENT...(85%) of the tax cuts. Don't take my word for it, check the link:
http://www.thegatewaypundit.com/2011/07/another-ob...
Don't like the gateway pundit... they got their numbers from CNN Money Matters:
3 Answers
- 10 years agoFavorite Answer
Those tax cuts were for EVERYONE and not just the rich.
- justaLv 710 years ago
The tax cuts for the rich were aimed at the estate taxes, renamed death tax, and it involved taxes on estates over five million dollars, only five percent of estates reach that amount, but the loss to the national pocketbook was large.
Take the Steinbrenners, his estate came to a billion dollars, when he died his estate would have paid six hundred million dollars, a huge amount, but then so is a billion. Instead his heirs didn't pay a single penny.
Then we have twenty five hedge fund managers, recently it was revealed that that's the amount of the population that are eligible for one of those special tax breaks, just twenty five people, they would have had to pay into the treasury, 44 billion over ten years. The wealthy have more than 6.,400 times the income of the average American. If there were some tax breaks for those working stiffs, making fifty thousand a year, its possible to write them back in. That's what pencils are for.
- LadyBLv 710 years ago
They're still in effect for the rich, thanks to the immorality of the Republican party.
