SG Broadband Community

http://money.cnn.com/2006/05/16/pf/taxe ... /index.htm

Thanks bush for doing more to save Everyone else money..... Welcome to life.. the rich get richer, the poor get poorer.. Thanks for the kick to the cherries Bush..

After reading that I got curious a bit more.. and I read up more on who the AMT affects.. I've never gotten stuck with it and probally wont be for quite a few years..

The Inflation adjustment I can understand.. but the unfortunatly this is getting alot of bad press on the radio around here too and almost everyone I know is ranting about it as it was time spent on helping out people getting payed ALOT more then we do..

There will never be a huge tax break for the middle/lower middlle class, thats where most of the money comes in from.

I'm sure even the rich that own businesses would like to see the middle class get a huge break, cuz then they'd have more money to buy junk.

YARDofSTUF wrote:There will never be a huge tax break for the middle/lower middlle class, thats where most of the money comes in from.

Better get your facts straight. What would you consider "middle/lower middle class? Under $50K? How about under $40K? OK.

The percentage of people earning under $40K in the US, (as of 2003 returns- IRS data) is about 61.2%, or 79,827,169. That 61.2% accounts for a cumulative total of 16.3% of all revenue by individuals. No typo.... 16.3%.

This is fact. Go to irs.gov and look it up yourself.

The popular myth is that the "little guy" gets hammered the hardest, while the "rich" don't pay their "fair share". In fact, the opposite is true. Don't get me wrong.... I wish I could pay less taxes too, but don't get caught up in this cr@p that the poor little guy is bearing the brunt of the burden of taxation, because they're not.

And before someone goes claiming I pulled this from some "Limbaugh touted, right-wing conservative dribble rag".... it came from here:

http://www.irs.gov/taxstats/indtaxstats ... 81,00.html

And here's another interesting little factoid:

For example, it is important to note that up to 40 percent of federal income tax filers cannot receive further tax relief because these taxpayers do not in effect pay federal income taxes. Millions of families, many in the bottom fifth, have either zero tax liability or receive a net transfer from the government due to the refundable portion of the Earned Income Tax Credit (EITC) and/or the Child Tax Credit (CTC).

twwabw wrote:Better get your facts straight. What would you consider "middle/lower middle class? Under $50K? How about under $40K? OK.

The percentage of people earning under $40K in the US, (as of 2003 returns- IRS data) is about 61.2%, or 79,827,169. That 61.2% accounts for a cumulative total of 16.3% of all revenue by individuals. No typo.... 16.3%.

This is fact. Go to irs.gov and look it up yourself.

The popular myth is that the "little guy" gets hammered the hardest, while the "rich" don't pay their "fair share". In fact, the opposite is true. Don't get me wrong.... I wish I could pay less taxes too, but don't get caught up in this cr@p that the poor little guy is bearing the brunt of the burden of taxation, because they're not.

I was thinking 100k and under, what Im saying is that businesses would like the 100k and lower group to get a discount, I think thats the group that would benefit businesses most.

its same everywhere,even in Canada,the big businesses dont pay as much taxes as they should and the small ones does .
Low income family gets lets say $900 bucks a year and high income $2000.
Unbelievable