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hfojvt

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Gender: Do not display
Hometown: South - Carolina and Dakota
Home country: Oz
Current location: Kansas
Member since: Mon Nov 15, 2004, 03:30 AM
Number of posts: 34,703

Journal Archives

actually it has not

and I do not believe there were significantly more deductions in the past. I am pretty sure there are still significant deductions that are still with us, as the current stats I looked at showed.

In 1993, the standard deduction was $3,700. The inflation calculator tells me that is $5,964 in 2013 dollars. Not all that much different from the $6,100 the standard deduction was in 2013. http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=171

It was $2,300 in 1984 which is $5,156 in 2013 dollars, but the 1984 number was rather low. It was $2,300 in 1979 which is $7,380 in 2013 dollars. Making $6,100 actually 17% lower than it was in what I call the "good old days" (before Reagan ruined the country). The real value was closer to $7,000 in most of the 1970s (although it went up and down - in 1977 it was boosted to $8,457 in 2013 dollars!!!!)

Here's the inflation calculator.
http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=2200&year1=1977&year2=2013

some people might have wanted

a Democratic President who did not embrace Reaganomic talking points.

So on a list of Obama's accomplishments are a few things that Republicans would applaud.

What do Republicans always push? Tax cuts, tax cuts and more tax cuts. Tax cuts, Republicans say, are always good. And tax increases are bad.

And Obama embraces that message, and so, apparently, do his supporters. From his list of accomplishments:

"Through the American Recovery and Reinvestment Act , he cut taxes for 95% of America’s working families. http://bit.ly/eSEI4F

Under Obama, tax rates for average working families are the lowest they’ve been since 1950. http://bit.ly/f74pD8

He extended and fully funded the patch for the Alternative Minimum Tax for 10 years. http://bit.ly/eFeSdP"

Take the first one as an example. According to CTJ, the stimulus cut taxes for 98% of working Americans. http://ctj.org/pdf/truthaboutobamataxcuts.pdf

However, they don't bother to mention that the richest 10% got 34% of those tax cuts. The richest 20% got 51% of them.

On the other hand, the poorest 40% only got 23% of them.

So, uhm, yeah, it's so great that Obama cut taxes in a way that benefits the top 20% far more than it helps the bottom 40%. That's definitely what I was hoping he would do when I voted for him twice.

No, actually, it wasn't.

For some reason, I was hoping for better than that.
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