Wednesday, October 22, 2008

Bob the Banker versus Bernie

One of the many messages passing through the Internet's tubes has a subject heading of "Bob the Banker". It quotes a hypothetical banker making $250K who complains about having to pay $257 more in taxes under the Obama Wealth Spreading Plan™. Bernie copied me on his email response to the Obama supporter who sent the message.

Alrighty Tom, you asked for responses, and here it comes. You sent your "Bob the Banker" email, and how its going to cost a guy making $250k about $257. Perhaps those number are true, and in which case, the $250k a year guy is not going to see much difference. Please read the below carefully, and remember, when I talk politics, I bring it HOME. How will this affect ME???!!!!!

Tom, look at the table. I fall closest to the married, filing jointly, making 60 a year. There is a $7,800 dollar a year difference here. And... and... and... don't forget the $3000 in tax credits I get because I have 3 kids. Don't just trust the table I have here, go to the link, and check out for yourself the tax rates. Going from 15% to 28% is a VERY big difference --- an 86% tax increase!!!

I know you and others without kids living with you don't like that kid tax credit (I understand, I will probably feel the same way when my kids are gone), but obviously you can agree that it is a REAL $3000 to me.

So, here is the rub. All Obama has to do is let the Bush tax cuts go away, and without ever raising taxes, I will see a REAL $10,000 go away.

I am not making enough money to absorb a $10,000 a year loss.

So, when Barack Osama tries to tell me "95% of all Americans will get a tax break", you can see how I really question that. He will let the Bush tax breaks go (bringing rates back to Clinton levels), and then will give me about a $1,000 tax cut. Don't even get me started on the fact that only 60% of Americans pay taxes, thus Obama wants to give MORE money back to people who are not PAYING anything in.

I have to add in here, that I have NO assurance that McCain will keep the Bush tax cuts in place either!

I would challenge you to look at the tables, and see what your taxes will be like under the Clinton-era levels vs. the Bush-era levels and report back just the taxes.

Now, whether or not you believe you should be paying more for the common good or not, is another story. I just grow weary of being told how McCain is all about the rich, and Obama is all about the "common man". Read below: I would say married, 2 kids, $40k a year IS the common man.

As always -- I await your replies... cause I enjoy this stuff. I feel like I have some pretty good facts stated here. You being the guy who looks for facts, I cant wait to see what you come up with! I copied some more buddies (including LIBERAL ONES). I assume this is going to be a good thread!


FYI, when you go to the tax tables (click on the link below) and look up, for example, a married filing jointly for $40,000, the current tax rate is 15% (under Bush) and it was 28% in the mid to late 90's (Clinton era). I checked them and this does appear accurate. So beware when you pull the lever or pop the chad, as to the burden you are placing upon yourself.

Most voters are completely ignorant of the pertinent facts that should be considered when one enters the voting booth. Based on using the actual tax tables (see link below), here are some examples of what the taxes were/are on various amounts of income, for both singles and married couples, during the Clinton and Bush administrations. Let's see if the Bush tax cuts only helped the rich. For verification check out the link below.

Taxes under Clinton (1999) Taxes under Bush (2008)
Single making 30K - tax $8,400 Single making 30K - tax $4,500
Single making 50K - tax $14,000 Single making 50K - tax $12,500
Single making 75K - tax $23,250 Single making 75K - tax $18,750
Single making 125K - tax $38,750 Single making 125K - tax $35,000

Married making 60K - tax $16,800 Married making 60K - tax $9,000
Married making 75K - tax $21,000 Married making 75K - tax $18,750
Married making 125K - tax $38,750 Married making 125K - tax $31,250

It is amazing how many people that fall into the above categories think Bush is screwing them. Now you know the rest of the story. Share this with your friends.


Hey!!! you are still reading... SWEET!!! Looking at the tables above, let me add this. No one can argue that the Democrats always talk about the Republicans giving the rich breaks, and hosing the middle class. Look at those charts above. There is a $7500 difference for the married guy making over 125k a year--bush let him keep 6% more of his income (7500/125k). Looking at the poorest listed, the single making 30k, there is a $3900 difference. Bush let him keep 13% more of his income.

Can you hear the commercials now?? George Bush wants to crush the little man. George Bush is all about the rich. George Bush gives the guy making 125k ONE HUNDRED and NINTEY-TWO percent MORE than the guy making 30k (3900 times 1.92 is 7500). George Bush wants the middle class to be crushed.

I would look at it this way. The married making 125 paying 31250, is paying just under 7 times more in taxes than the single guy making 30.

And that my friends, is a lot of money.

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