Sunday, April 4, 2004

Here's something that is greatly irritating me. The media makes it sound like the end of the world that we're giving most of the tax cuts to the wealthy. Guess what? The wealthy pay most of the taxes already, and if you make a lot of money, you pay a lot of taxes, so when those taxes get cut, you get more money back. If you're making $10,000 a year you're not going to get a $100 million tax cut. Is that surprising? I guess it is to the media.

If I make $10 million a year then I will pay about $4.5 million in taxes. That means that when my taxes get cut by 10% I will get about $450,000 back. If I make $10000 / year then when my taxes get cut by 10% I only save about $10 because I wasn't paying more than $100 in taxes anyway.

SHOCKING! $450,000 > $10. I'm appalled. Won't someone please think of the children!

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