Tuesday, October 14, 2008

The truth about taxes

Here are some facts about taxes under the last two presidents. No, all the tax cuts did not go to benefit the wealthy. In fact, the largest percentage cuts went to single people earning less than $30,000 and married couples earning less than $60,000.

Single person:
earning $30,000
Tax under Clinton 1999 $8400
Tax under Bush 2008 $4500

earning $50,000
Tax under Clinton 1999 $14,000
Tax under Bush 2008 $12,500

earning $75,000
Tax under Clinton 1999 $23,250
Tax under Bush 2008 $18,750

Married:
earning $60,000
Tax under Clinton 1999 $16,800
Tax under Bush 2008 $9000

earning $75,000
Tax under Clinton 1999 $21,000
Tax under Bush 2008 $18,750

earning $125,000
Tax under Clinton 1999 $38,750
Tax under Bush 2008 $31,250

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