Tax Cut Analysis (Wonderful Insight into Tax Cuts)

PoliPundit.com ^ | 5/24/03 | PoliPundit.com

[NYC Republican]

Truly excellent insight into the tax cut and its ramifications, both political and economic. Great piece, worthwhile reading.

[Mears]

Nice post!

I would never vote for anyone who was against a tax cut,we are overtaxed now and have been for many years.

[Trust but Verify]

Democrats are sooo screwed.

[Torie]

Here is a quiz question for you. Which black Dem congressman voted for the tax cut bill? Which Pubbie voted against? Which white Dem with a somewhat liberal reputation voted for the tax cut bill?

[CyberAnt]

"Remember last December, when the president was supposed to want a $300 billion tax cut and the conventional wisdom was that he'd get about half that"

WhoooHoooo! I guess right! The President BUSH-WHACKED the dems again!! He got his $726 Billion Tax cut anyway - because the sunset provisions will be un-sunsetted after the next election!!!

Once again - the dems have misunderestimated the strategery.

[Torie]

Actually, the number is higher. See below. It will either all work out, or it won't.

"If all those provisions are extended, the full cost of the plan will range from $800 billion to $1 trillion, even more than the $725 billion Bush initially requested, according to a study by the Center on Budget and Policy Priorities, a liberal think tank."

[Farnham]

I think the $400 rebate is actually the most politically savy part of the plan.

This is an electrifying piece of mail and a big wake up call for the blue collar guy with 3 kids who doesn't think a lot about what taxes really cost him.

And it comes in time for a little family get away or back-to-school. How convienient.

Let's see em take that away in 94.

[AmericaUnited]

Bush is stupid, no gravitas, a frat party boy, etc. etc.

And that is why it must hurt so bad, when the demonrats get their clocks cleaned over and over again by G.W.

[NYC Republican]

"Let's see em take that away in 94"

'04, right? They'll never be able to do it!

[CyberAnt]

Well ... it may hurt - but they aren't learning from it - which is making them look like idiots; angry, bitter, idiots.

[nonliberal]

Most of the people getting the "rebate" do not pay taxes in the first place, thanks to EITC. It is not a rebate it is simply a vote buying scam with YOUR MONEY!!

Remember, in 2005, taxes go right back up!

[NYC Republican]

"It is not a rebate it is simply a vote buying scam with YOUR MONEY!!"

I'm sure you complained loudly about this when the DemocRats put in the $300 refund last year (into the bill)?
They thought it would help stimulate the economy then. Yeah right, I'm sure you didn't say a word then. Sounds like you are in fact a liberal??

[Bernard]

So a $350 billion tax-cut is what % of the total receipts? Is this a 1%, 10%, 50% cut? I hate celebrating in a vaccuum.

[upchuck]

Wow, this is BUMPALICIOUS!!

Every FReeper should read this. An excellent analysis!

[Torie]

Well, receipts are close to two trillion, so if the cuts cost 900 billion over 10 years (90 billion per year), that is about 4.5%. The 350 billion figure is worthless, because it is sunseted over various years, in various parts, earlier than 10 years. That is what the Dems are complaining about.

[Right_in_Virginia]

BTTT for a MUST read!

[Jim Robinson]

Excellent! Bump!

[VA40]

You're wrong on this. Pull a 1040 and look at it. The EIC is a payment, the child tax credit is a credit off any taxes owed.

[NYC Republican]

Polipundit.com is the most fantastic blog I've ever seen. This, and realclearpolitics.com (and powerline.com) are definitely worth reading...

Check out Polipundit.com's 2004 Senate predictions, which are updated periodically. Awesome.

Thanks for the bump. I agree, I would love it if every Freeper was able to read this commentary.