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Originally Posted by Madmartagen
Under Bush's tax cut, the top 2% earners were taxed at a lower percentage than the poorest people, thats what I'm getting at. Should the poorest people in America pay more than the richest? Why do I think the poorer people need more of a tax break? Because generally they spend the rebate immediately, while the top earners in the country are able to save it for later, thats why its called a stimulus. It makes sense to give the spenders the money, rather than the wealthier people who save it.
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Im sorry, I believe the oppisite is true. Under bush's tax cut, the lowest income brackets got a larger cut.
[img]http://www.whitehouse.gov/news/reports/images/taxplan-chart2.gif[/img]
[quote:6328a]Of course the wealthy pay more taxes because they have a higher income. 10% of $100 is $10, 10% of $100,00 is $1,000. Whats wrong with that?[/quote:6328a]
Acctually, we have a graduated income tax. The more you make the more you are taxed. The old categories for percent taxed are, 15%, 28%, 31%, 36%, and 39.6%, respectivly, by income. The new categories, under Bush's new plan are; 10%, 15%, 25%, and 33%. I pulled these numbers from
[url:6328a]http://www.whitehouse.gov/news/reports/taxplan.html[/url:6328a]