The AP repeats Republican talking points on taxes

[hfojvt]

http://news.yahoo.com/s/ap/20080313/ap_on_go_co/congress_budget

They repeat this like it's a fact, without the necessary caveat "according to Republicans"

"Obama and Clinton both promise to reverse Bush's tax cuts for wealthier taxpayers, but the Democratic budget they'll be voting for would allow income tax rates to go up on individuals making as little as $31,850 and couples earning $63,700 or more."

Here's what the CBPP says about that, and other Republican comments on the Bush tax cuts

http://www.cbpp.org/3-12-08tax.htm

"2. “Under their budget, the definition of rich would reach down to… couples who earn $63,000.” —- Senator Mitch McConnell, Senate Minority Leader, at a press conference on taxes, March 12, 2008

“Even with the Baucus amendment added to this budget, there would be marginal rate increases on millions of taxpayers. . . . These marginal rate increases would reach taxpayers with incomes as low as $31,850 for singles and $63,700 for married couples.” —- Senator Charles Grassley, Ranking Member of the Senate Finance Committee, during the debate on the Senate budget resolution, March 10, 2008

Senators McConnell and Grassley are referring to the income levels at which taxpayers can begin to benefit from 2001 tax cut’s reduction in the 28 percent tax rate. But in calculating these levels for 2007, they failed to factor in the personal exemption and standard deduction. With those included, the then-28 percent, now-25 percent bracket begins at $40,600 for singles and $81,200 for couples. (To benefit in full from the 25 percent bracket, a single individual needs an income of at least $85,850, and a married couple needs income of at least $146,000. This explains why the Tax Policy Center estimates that some 80 percent of the benefits of reducing the 28 percent rate to 25 percent go to households with incomes above $100,000; see http://www.taxpolicycenter.org/numbers/Content/Excel/T07-0018.xls.) "

The Liberal Media strikes again - advancing Republican lies as "facts".

[panader0]

1. Would some one out there please post the facts about the

differences between the Dem and Rep tax plans? My neighbor insists that Dems will raise taxes for the poor and middle incomers. I think that rescinding of the tax cuts for the rich is the "increased taxes" the repubs are always saying. I need some facts to make my neighbor votr Dem. Thanks.

[DemocratInSoCal]

3. Tell Your Neighbor He's A MORON!

He's only going to argue with you, and vote for McLame anyways.

Tell him that he can believe whatever BS he wants, and that's he a MORON, and you have no time to waste explaining to him how reality works.

[hfojvt]

4. I am not sure exactly what the different proposals are

generally Democrats want to reverse some of the Bush tax cuts and Republicans want to make them all permanent. The CBPP paragraph explains some of that.

"now-25 percent bracket begins at $40,600 for singles and $81,200 for couples. (To benefit in full from the 25 percent bracket, a single individual needs an income of at least $85,850, and a married couple needs income of at least $146,000. This explains why the Tax Policy Center estimates that some 80 percent of the benefits of reducing the 28 percent rate to 25 percent go to households with incomes above $100,000;"

80% of the benefits of reducing the 28% rate to 25% goto households with incomes above $100,000 (which is only about 10% of households). Suppose you are a single person making $45,000. In my view, you'd be pretty well off. Under this plan, your taxes would go up $132. On the other hand, a single person making over $85,850 would see a tax increase of $1,357.5.
Thus, most of the benefits of the rate reduction goto those making over $80,000.

Republicans will lie about that too, talking about "average tax cuts". The CBPP talks about that too. Send your neighbor to that link or print it out, if they can understand the analysis.

[DemocratInSoCal]

2. LIE, LIE, LIE SOME MORE, Then Correct Mistakes Later When Nobody's Listening

So long as you SPEW GARBAGE & SPIN, and people hear it, they'll accept it, and won't pay any attention later, when it's proven to be a LIE. By then it will be too late anyways.

I hope this country crumbles like the house of cards it is. WHEN WILL PEOPLE WAKE THE FUCK UP AND TAKE THIS COUNTRY BACK?

Never, I fear. Never.

[hfojvt]

8. Well, they have fixed it now

but their new article quotes two Republicans and no Democrats.

"Said Republican Rep. Jim McCrery of Louisiana, "Democrats are quietly but very assuredly paving the way for a massive, economy-choking, tax increase.""

Reminds me of what they said after Clinton passed what they called "the largest tax increase in history"

"I believe this will lead to a recession next year." Newt Gingrich

"It's like a snakebite. The venom is going to be injected into the body of this economy: in our judgement it's going to spread throughout the body and it's going to begin to kill the jobs that Americans have." John Kasich

Then we had the longest peacetime expansion in our history.

I wonder how many newspapers the original story will be in.

[Time for change]

5. Dems have to pound things like this home at every opportunity

If we let them get away with crap like this we lose.

[hfojvt]

6. well I was hoping some readers here would contact the AP

and now Rawstory has picked up the AP story and passed it on.

[hfojvt]

7. actually they repeated it twice

"Under both Democratic plans, tax rates would increase by 3 percentage points for each of the 25 percent, 28 percent and 33 percent brackets. At present, the 25 percent bracket begins at $31,850 for individuals and $63,700 for married couples. The 35 percent bracket on incomes over $349,700 would jump to 39.6 percent."

It begins at $31,850 for TAXABLE income, not for income. Income is first reduced to Adjusted Gross Income and then reduced by standard or itemized deductions and personal exemptions.