View Full Version : Question on federal taxes
Kentucky Colonel
10-07-2006, 09:11 PM
I need to find out what the average tax cut was for a family of four from President Bush's tax cut.
The reason is because if the democrats get control of the House they will put Congressman Rangel in charge of the Ways and Means and he said several times that he would take back all President Bush's tax cuts. That will RAISE everybody's tax rates.
On top of that we all know the democrats will also add more rasies to the taxes.
If I could find out how much a family of four got from President Bush's tax cuts then I could tell everyone how much more taxes they would have to pay plus what ever the democrats want to add to it.
Kentucky Colonel
10-08-2006, 06:17 PM
The only thing I've been able to find is the middle class depending on income level got, $289-$2,157 tax cut.
That's how much each taxpayer's taxes will go up over last years taxes once the democrats control Congress.
Now for a family of four with both parents working that means depending on loopholes, can look forward to paying $578 and up more in taxes each year.
You can bet the democrats will add to that total.
Terri
10-08-2006, 06:32 PM
Colonel, I think this may be what you're looking for.
IRS Data Reveal Which States Benefited Most from 2001 and 2003 Tax Cuts (http://www.taxfoundation.or g/publications/show/1899.html)
Tax Foundation
Across the nation, nearly every income group in every state has had its federal income taxes cut in recent years. With new data from the Internal Revenue Service (IRS) on the taxes paid for 2004, we can now see the full effects of the so-called Bush tax cuts enacted in 2001 and 2003. These new data let us see how the recent tax cuts have played out along the income spectrum within each state, as well as which states have benefited the most.
Because states have different demographic profiles, some states’ taxpayers benefit more than others from the tax cuts. For example, states with more children benefit more every year from the $1,000 per child tax credit, and because people with incomes over $110,000 are denied the full deduction, states with more children in low- and middle-income households benefit even more from that part of the Bush tax plan.
Similarly, reductions in the top tax rates give more relief to states with many high-income earners; the new 10-percent bracket gives more relief to states with many low- and middle-income earners; and the marriage penalty relief benefits states with more middle-income married couples.
vBulletin v3.5.4, Copyright ©2000-2010, Jelsoft Enterprises Ltd.