The Bush Tax Cuts - by the numbers
Here are a few FACTS about the President's tax cuts that you need to remember going into election day.
* $14,374,330, 000,000 -- The Total Increase in Household Wealth Since April 2003. That's over 14 TRILLION dollars [A million seconds is less than 12 days; a billion seconds is over 31 years; a trillion seconds is more than 31,000 years, and 14 trillion seconds is over 434,000 years]
* $207,788,000, 000 -- The Reduction in the Deficit in the Past 29 Months DUE TO STRONGER ECONOMIC GROWTH
* 4.6% -- The Continuing Unemployment Rate, Lower than the averages of the 70's, 80's and 90's, Which Continues To Disprove the Media's Template of Economic Pessimism
* 3.7% -- The Average GDP Growth Rate Since The Tax Cut Was Enacted (the long run average is 3.3%), Calculated Quarterly
* $98,600,000, 000 -- The Combined Income Gains for Shareholders From Dividend Increases AND Tax Savings from 2003 to 2005
* $62,000,000, 000 -- The Surplus of Capital Gains Tax Revenue Not Foreseen or Accounted-for by Old School Revenue Estimators
* 23,000,000 -- The Number of Small Businesses Benefiting from Income Tax Reductions
* 6,600,000 -- The Number of Jobs Created Since the Tax Cut Was Signed Into Law
* 164.0% -- The Increase in the Dividend Tax Rate which would occur IF the Income and Dividend Tax Cuts expire as the Democrats want them to
* 123.0% -- The % Increase in Dividend Income and Share Repurchases Since the 2003 Tax Cut
* 91.0% -- The % Increase of Stock Ownership among the Bottom Quintile of Income Earners Since 1995
* 65.0% -- The % of Voters Who Were Investors in the 2004 Elections
* $2,092 -- The Tax Increase for a Family of Four With $50k of Income -- IF the tax cuts are repealed or are allowed to expire, as the Democrats want
* 300,001,643 -- The TOTAL Number of Americans benefiting from the Republicans' 2003 Tax Cut-
-- from http://snipurl. com/zueb and http://snipurl. com/zya8
Now there are other stats at these two websites, but I wanted to hit the highlights!
Remember this when you go into the Polls on November 7. Democrats from Mike Hatch to Amy Klobuchar to Chuck Schumer to Harry Reid have all said that if they get control they WILL work to repeal the President Bush's tax cuts. Is that something the middle class can afford? Not this middle class taxpayer....
* $14,374,330, 000,000 -- The Total Increase in Household Wealth Since April 2003. That's over 14 TRILLION dollars [A million seconds is less than 12 days; a billion seconds is over 31 years; a trillion seconds is more than 31,000 years, and 14 trillion seconds is over 434,000 years]
* $207,788,000, 000 -- The Reduction in the Deficit in the Past 29 Months DUE TO STRONGER ECONOMIC GROWTH
* 4.6% -- The Continuing Unemployment Rate, Lower than the averages of the 70's, 80's and 90's, Which Continues To Disprove the Media's Template of Economic Pessimism
* 3.7% -- The Average GDP Growth Rate Since The Tax Cut Was Enacted (the long run average is 3.3%), Calculated Quarterly
* $98,600,000, 000 -- The Combined Income Gains for Shareholders From Dividend Increases AND Tax Savings from 2003 to 2005
* $62,000,000, 000 -- The Surplus of Capital Gains Tax Revenue Not Foreseen or Accounted-for by Old School Revenue Estimators
* 23,000,000 -- The Number of Small Businesses Benefiting from Income Tax Reductions
* 6,600,000 -- The Number of Jobs Created Since the Tax Cut Was Signed Into Law
* 164.0% -- The Increase in the Dividend Tax Rate which would occur IF the Income and Dividend Tax Cuts expire as the Democrats want them to
* 123.0% -- The % Increase in Dividend Income and Share Repurchases Since the 2003 Tax Cut
* 91.0% -- The % Increase of Stock Ownership among the Bottom Quintile of Income Earners Since 1995
* 65.0% -- The % of Voters Who Were Investors in the 2004 Elections
* $2,092 -- The Tax Increase for a Family of Four With $50k of Income -- IF the tax cuts are repealed or are allowed to expire, as the Democrats want
* 300,001,643 -- The TOTAL Number of Americans benefiting from the Republicans' 2003 Tax Cut-
-- from http://snipurl. com/zueb and http://snipurl. com/zya8
Now there are other stats at these two websites, but I wanted to hit the highlights!
Remember this when you go into the Polls on November 7. Democrats from Mike Hatch to Amy Klobuchar to Chuck Schumer to Harry Reid have all said that if they get control they WILL work to repeal the President Bush's tax cuts. Is that something the middle class can afford? Not this middle class taxpayer....
posted by The Lady Logician at
7:16 AM
4 Comments:
What Democrats have REALLY said is that they will increase taxes ONLY on the wealthiest 2% in order to address the record Bush budget deficts. I agree this should be done. I don't want my children and grandchildren paying for the Bush deficits!!!
By
Anonymous, at 11:19 AM
Skipper - who do you suppose employs all of the lower and middle class? Hmmmmmm?????
By
The Lady Logician, at 12:10 PM
Some are employed by the wealthy. Some are employed by middle class persons. Some are self-employed. A small tax increase on the wealthy doesn't mean they will fire their employees.
By
Anonymous, at 12:43 PM
JT - what is your dollar defination of middle class? At what income level are you?
A lot of people I know (myself included) are working jobs now that were created as a direct result of the President's tax cuts. I know just how much my employers business is making. If his taxes go up I could easily loose my job! It is just because he is on the cusp of needing a full time employee versus being able to afford one...
By
The Lady Logician, at 1:32 PM
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