Reply #58: just send $5 and a SASE and I will send you the numbers - it's easy

[hfojvt]

My tax bill is $865 say, at income of $23,000. Since the Bush tax cut created the 10% bracket on the first $6,000 of taxable income, it saved me $300. So, my taxes were reduced from $1165 to $865 a 26% reduction.

Now take a CEO (please). On income of $25,000,000. Since the top rate was reduced from 39% to 35% (supposed to goto 33% but I am not sure if that has taken effect yet. Just look at the last $20 million of his income, which all pays the highest rate (assuming no other deductions/loopholes). His taxes were $7,800,000 and Bush (and other Republicans) reduced them to $7,000,000. A tax cut of $800,000. HOWEVER, a mere 10% reduction. The percentage is smaller because the base is so much bigger.

Gee, Mr. President. You are right. $300 really is bigger than $800,000. I bet that CEO has "tax cut envy" and is probably going to vote for Democrats now since you screwed him over so bad. :eyes: