Obama Allows Bush Tax Cuts to Expire & Thereby RAISES YOUR TAXES!

Obama SCREWS Lower/Middle Class Taxpayers by Allowing the Bush Tax Cuts to Expire-Taxes Increase!
www.snopes.com

Posted on Friday, October 17, 2008 11:18:57 AM by Hillary'sMoralVoid

The Democrats have a dirty little secret that they don’t want you to know. It is that their mantra of Bush’s “Tax Cuts for the Rich” is unabashedly false. The rich paid a higher percentage of the total tax bill under the Bush plan than under Clinton. In fact, the expiration of the Bush tax cut savages the low- and middle-class voters.

This case has been made and fact-checked with the ever-liberal Snopes.Com. The Tax Foundation used “tax table” rates between the Bush and Clinton tax plans to shows a huge difference for low income taxpayers, sometimes even a 100% tax increase when going backward to the Clinton “tax table” rates versus Bush.

Not so fast, says Snopes! Tax rates do not equal marginal rates, so they run some numbers that supposedly reflect that. Even using their own numbers in the table below, the results are damning.

WITH THE EXPIRATION OF THE BUSH TAX CUTS:

Single tax payers in three typical low to middle income categories have the taxes increased 12% on average

Single Taxpayer making $30K – Pays 15% more in taxes when Bush tax cuts expire

Single Taxpayer making $50K – Pays 10% more in taxes when Bush tax cuts expire

Single Taxpayer making $75K – Pays 11% more in taxes when Bush tax cuts expire

But married taxpayers in typical low to middle income really get the shaft! Their taxes are increased 20.5% on average

Married Taxpayer making $60K – Pays 19.5% more in taxes when Bush tax cuts expire

Married Taxpayer making $75K – Pays 21.5% more in taxes when Bush tax cuts expire

Married Taxpayer making $125K – Pays 20.5% more in taxes when Bush tax cuts expire

Remember, these numbers are conservative. UNDER THE GUISE OF CANCELLING THE EVIL BUSH TAX CUTS, OBAMA IS FOISTING A TAX INCREASE ON AMERICA, FOCUSED ON LOW-TO-MIDDLE CLASS TAXPAYERS.

GET THIS WORD OUT NOW! Plagurize, cut and paste, do whatever you need to make this known.

Reference: http://www.snopes.com/politics/taxes/clinton-bush.asp