I Believe In Paying Taxes...

[hsifeng]

...but I am curious when the Republican Party became so interested in us all doing so as well? Aren't they the party of 'low taxes'? I am sure the reason that they are having to revert from their prior party line is because of the spending deficit left over from some big-spending Democratic administration...

Um...

Wait...

From rwfranz

Here's the way their proposals break down - in terms of AVERAGE TAX RATE:

Income range:	Obama	McCain
0 - 18,981	-0.7%	4.4%
18982 - 37,595	7.5%	10.2%
37596 - 66,354	14.7%	16.2%
66354 - 111,645	18.4%	18.7%
11646 +	27.3%	23.9%

In the top quintile (the top 20% of tax units), there is further subdivision:

Income range:	Obama	McCain
111,645 - 160,972	21.1%	20.8%
160,973 - 226,918	23.0%	22.1%
226,919 - 603,402	26.5%	24.0%
603,403 - 2,871,682	34.5%	27.0%
2,871,683+	37.4%	28.1%

Which means, in terms of TAX DOLLARS OWED (sample income levels):

Income	Obama	McCain
10,000	-70	440
30,000	750	1020
50,000	7,350	8100
100,000	18,400	18,700
150,000	31,150	31,200
200,000	46,000	44,200
500,000	132,500	120,000
1,000,000	345,000	270,000
5,000,000	374,000	281,000

Comments

Re: for the rich

[hsifeng.livejournal.com]

That is a recent development: They used to be the party of fiscal responcibility for *everyone*. That meant they didn't tax you, me or Frank unless they had to. Not anymore...(and not for awhile)

Re: for the rich

[shadowd1.livejournal.com]

in my life, the national debt has increased with republicans, save Nixon, and maintained or decreased with democrats; however, social services have been cut with republicans and added with democrats. and, for the past 8 years our current president has decided to pay for a war by giving tax cuts to the rich. i'm not sure how to best define "recent" when looking at the GOP; however, i think their fiscal irresponsibility has been going on for a while, and is now more apparent due to lack of a solid apparent "bad guy" previously used to distract the majority of the population.

i never understood how a party could claim to be fiscally conservative, while leaving a larger debt and cutting programs. i guess that's one of the reasons why i left the republican party to become undeclared.

Re: for the rich

[hsifeng.livejournal.com]

Of course, I am talking about a tradition (http://en.wikipedia.org/wiki/Fiscal_conservatism) that the Republican Party still espouses - even though it hasn't demonstrated it since Nixon (http://thepoliticsofdebt.com/?p=177 /). )

Re: for the rich

[shadowd1.livejournal.com]

you know... i'm a closet Nixon fan...

Re: for the rich

[hsifeng.livejournal.com]

I thought you didn't like closets...*grin*

Re: for the rich

[shadowd1.livejournal.com]

well, they are good for hiding things... like bodies.

Re: for the rich

[hsifeng.livejournal.com]

*chuckle*