80% of the tax burden is on the working class. Why? Because so much of our population is working class. If the government were to double the taxes on the rich, the impact would be negligible. But make a huge difference in working class taxes, drop them by 20% for example, and there would be a huge negative impact on the federal budget. So much so that even taking all of the money from the rich would not cover the loss.
In other words, don't look for any huge tax cuts from anyone in office. The Federal Government can't afford one! Same goes for the fair tax. Look real close and it's not so different from what we already have. Thanks, Tom Hargrave www.kegkits.com 256-656-1924 -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Mitch Haley Sent: Tuesday, April 15, 2008 10:21 PM To: Mercedes Discussion List Subject: Re: [MBZ] OT: McCain proposes break in fuel taxes Wonko the Sane wrote: > > Not exactly, Donald. Obama's plan would roll back the tax cuts on the > wealthy (Dubya's friends) who pay a much lower percentage than I do as > middle class, and probably, lower middle class, You'd be surprised what the rich people (at least the working rich) pay. I've done their tax returns. Couple of doctors, $300-350k income, $70-90k federal income tax, and that's with a couple of good accountants looking for every possible advantage. > I paid thousands this year in taxes If you and Debbie can live on $30k a year, there's no need to pay any federal income tax. Take a look at form 8880. You can take the tuition and fees deduction to help get your AGI down to the magic $30k level. Mitch. _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com No virus found in this incoming message. Checked by AVG. Version: 7.5.524 / Virus Database: 269.22.13/1377 - Release Date: 4/14/2008 9:26 AM No virus found in this outgoing message. Checked by AVG. Version: 7.5.524 / Virus Database: 269.22.13/1377 - Release Date: 4/14/2008 9:26 AM _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
