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Wednesday, January 28, 2009

CTJ: Republican Tax Cuts Skewed Toward Rich

Citizens for Tax Justice today published Less than a Quarter of the House GOP’s Tax Rate Reduction Proposal Would Go to the Poorest 60 Percent of Taxpayers:

CTJ 60  

http://taxprof.typepad.com/taxprof_blog/2009/01/ctj-republican-tax-cuts.html

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Comments

What a surprise.

Posted by: anon | Jan 28, 2009 9:40:47 PM

Our preception of "rich" is based on self-definition and the above graph provides no context about what level each household income level is.

According to census bureau data, the following income levels are what define each of the above graph items:

Lowest 20% = < $19,999
Next 20% = < $34,999
Middle 20% = < $57,499
4th 20% = < $92,499
Next 15% = <$199,999
Next 4% = < $249,999
Top 1% = $250,000+

Given the vast disparity in cost of living across the United States, while $199,999 for a household may *seem* "rich", it's often, for a household with a family, getting by, paycheck to paycheck, especially RIGHT NOW with upside down mortgage debt, credit card debt, etc.

Posted by: Lily | Jan 29, 2009 5:34:15 AM

Hey CTJ, How can you give tax cuts to people who don't pay taxes? Huh? Duh? The lowest 50% essentially pay no income tax. The top 10% pay over 60% of all income tax. Does the J in CTJ really stand for justice?

Posted by: Zen1Buddah | Jan 29, 2009 12:30:52 PM

If they say "rich," then they confuse high-asset with high-income. Not the same thing.

Not that a CTJ "study" should be treated as anything other than leftist garbage in/garbage out.

Posted by: Geithner | Jan 29, 2009 5:13:28 PM

The top 5 percent of income earners pay more than 50 percent of the Taxes even under the Republican plan.

Of the 95 percent of the working people pay less than 40 percent, and of those less than half pay nothing. What are we going to do? Send checks to these people for doing nothing or earning nothing?

Posted by: bvb720 | Feb 7, 2009 11:25:40 PM

to "anon" who made the first post above:

#1 Thanks for posting the census bureau info so that people can make more sense of this.

#2 If you are truly among those of us in the $199,999 Category for a household right now, are working, have a home (and a Mortgage)..THEN STOP WHINING!!! No, you are not Rich, but c'mon, if you are just "getting by" then you have been living WAY Beyond your means my friend!! Cut up the Credit Cards, cut back on a vacation or 2, go out to eat a little less, BUT FOR GODS SAKE...DO NOT WHINE!! There are people who have lost incomes loke yours after being in their jobs for 20 plus years and cannot find work...there are people who are less fortunate than you that could not get the education/experience to make our kind of income.

...count your blessings right now...as well as your $199,999...because tomorrow it might be $50,000

Posted by: Bill Gregory | Feb 11, 2009 5:19:02 PM

I will tell you, until 2004, I made less than $45,000 a year. To make the statement that the bottom 50% essentially pays no taxes is nonsense. I paid every year. Also, the more assets you have, and expeditures, that are deductable, the less of what you are supposed to pay, is paid.

It's seems odd to me that anyone would be upset about the tax relief on the top 5%. I was a republican until the past year. I always believed in the tax cut idea. The more I have read and learned, this concept is for those that represent 5% of our country mostly.

That being the case, if you are worried more about the top 5%, are you concerned about the majority (95%) of Americans?

Very odd.

Posted by: Jimbo | Feb 26, 2009 11:02:44 AM