Battle lines drawn on taxes

[SecularMotion]

Source: Los Angeles Times

WASHINGTON — Amid a contentious midterm election campaign, one of the sharpest divisions is over the expiration this year of Bush-era tax cuts, but almost everyone agrees on one point — doing nothing is not an option.

If Congress fails to act, taxes on most Americans would go up next year — adding $1,541 to the average household payment, by one estimate.

Taking that money, a total of $135 billion, out of the pockets of consumers and small businesses could be a devastating blow to the fragile economy.


Read more: http://sentinelsource.com/articles/2010/08/08/news/national/free/id_408967.txt

[Xipe Totec]

1. More statistical lies

If nine people are unemployed and have no income, and one person earns ten million dollars, the average income for the group is $100,000.

The median income, for the group is zero, because half of them earn zero or more dollars, and half of them earn zero dollars or less.

If you want to know how much taxes on most Americans would go up next year, you need to look at the median, not the average.

They know it, but the lie on purpose.


ETA: The also used a median income for US households of $63,366. But the median income in 2008 was $50,303 and expected to drop another 5% in 2009. It's very clever because the tax bracket changes around the $65K income level, from 15% to 25% or income.

[SecularMotion]

3. The amounts are based on median income

"A typical middle-class family with a median income of $63,366 would pay $4,964 in taxes next year if the cuts expire, well above the $3,423 tax it would pay if cuts were extended."

[Xipe Totec]

4. But the median income in 2008 was $50,303 and expected to drop another 5% in 2009

http://www.davemanuel.com/2009/09/10/median-household-income-in-the-united-states-falling-off-a-cliff

Very clever, since the tax brackets switch at an income around 68K from 15% to 25%

[SecularMotion]

6. The link is broken nt

[FreakinDJ]

2. Tax incentives for Corps to export jobs was in the Bush Tax cuts too

I guess the economy is doing so well we should extend that too

[onethatcares]

5. by that reasoning

we should have had an unemployment rate of about 1% during the * years. That is, if tax cuts really do create jobs.:rofl:

[The Taarakian]

7. 10 Yeas of Bush Tax Cuts...

And what do we have to show for it? Where are the jobs that these tax cuts have created? Where have these tax cuts helped the economy AT ALL? Let them expire and reinvest them in rebuilding our infrastructure to support a green economy!

[rasputin1952]

9. Welcome to DU...

:hi:

[on point]

8. Lies, damn lies, and statistics!! More propaganda

Thank you Mark Twain

[brentspeak]

10. Is this a news article or an opinion piece?

[L0oniX]

11. "average household" = $250,000 a year ???