Friday, August 13

The Presidential MCI plan...Friends and Family tax dodging

by justmy2 @ 8/13/2004 10:10:00 AM

The President continues to stun me. Apparently he is calling many of his friends and family tax dodgers!!!

US President George W. Bush today said there was no point in taxing the rich because they just dodged their tax bill anyway.

"Real rich people figure out how to dodge taxes," he said during a campaign stop in suburban Washington.

...Mr Bush said: "You've got to be careful about this rhetoric, we're only going to tax the rich. You know who the - the rich in America happen to be the small business owners."

By the way....the statement about small business owners being the rich in America is in and of itself demonstrably false.

Click here to see another administration spin job debunked...

But data from the Internal Revenue Service and the Census Bureau suggest the vast majority of small businesses provide their owners with incomes far below the $200,000-a-year mark where Kerry says he would begin eliminating tax cuts.

...Their profits fall into a median range of $40,000 and $60,000, according to the National Federation of Independent Business, a leading advocate of the small-business community. That puts them just above U.S. median household income of $42,409.

"These are not rich people," said NFIB researcher Bruce Phillips. "Changing the tax cut for the wealthiest Americans, for the most part, doesn't apply to our membership."


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