Let's 'Bottom Line' the Expiration of the Bush Tax Cuts

The New York Times does its best impersonation of a flamebaiting troll with this headline, “Battle Looms in Washington Over Expiring Bush Tax Cuts“.

Let there be no mistake about it, this is not a battle, this is an ambush, an execution. Just one more attempt to massacre what is left of the dignity and pride of the working class of America.

This is not about black vs. white. This is not about Republican vs. Democrat. This is about the haves vs. the have nots. More than likely if you’re reading this shady, good-for-nothing blog, you’re more than likely not a member of the former.

Let’s look at a few facts (figures from the last available numbers in 2008):

  • The median household income in the United States is $52,029. [source (PDF)]
  • Only 17.8% of all U.S. households make more than $118,200 a year. [source]
  • Only 2.67% make more than $200,000. [source]
  • In 2008, there were over 211 million people in the U.S. with some income and only 13 million made more than $100,000. [source]
  • IRS statistics show 7,389 federal tax returns with $200,000 or more in adjusted gross income reported no federal income taxes in 2005. That’s a 161% jump from the 2,833 comparable returns filed in 2004. The increases stem in part from two tax law changes, according to the IRS Spring 2008 Statistics of Income Bulletin. [source]
  • Those reporting adjusted gross income of more than $250,000 to the IRS are projected to make up 2% of households. [source]
  • Roughly 40% of the population fall below the poverty line at some point within a 10-year time span.

Listen up MSM, this is why this is not a battle. The 2% of the population that are fortunate enough to make more than $250,000 a year are being asked to to be taxed a mere few percent more in order to give back into the system that allowed them to amass that amount of wealth to begin with.

Tell me what kind of battle this would be [source]:

  • 50% make < 30k a year
  • 40% make 30k – 100k.
  • 9.5% make 100k to 500k.
  • About 55,000 make 1M/yr
  • About 10,000 make >10M/yr.

If this were indeed a battle, if our politicians had the courage to stand up and be passionate about the voiceless 90% of their consitutuants that spend their time working and spending and living and dying just to put food on their family’s plates.

Take note of the politicians, Republican or Democrat that oppose the coming demise of these George W. Bush tax cuts. Take note of the people who you elected that decides to stand up and fight to save the insignficant number of people who have put themselves in a position to make more than a quarter of a million dollars a year.

Take note of the so-called politicians who are willing to sacrifice your child’s education or your loved one’s health care in order to ensure that the rich stay rich.


One thought on “Let's 'Bottom Line' the Expiration of the Bush Tax Cuts

  1. Pingback: Can the US Private Sector Compete With Government Funded Techs in China and Europe? — James Poling

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