6 April 2008, 12:40 pm
According to Hillery, "We also have to reward work more, and by that, I mean, I have people in New York working on Wall Street as investment managers, as hedge fund executives. Under the tax code, they can pay a lower percentage of their income in taxes on $50 million than a teacher or a nurse or a truck driver in Parma pays on $50,000. That’s very discouraging to people." http://dealbook.blogs.nytimes.com/2008/02/20/is-clinton-hating-on-hedge-funds/ How can she say with a straight face that a nurse pays over 35% of the income in federal taxes? It's just not true! Well that's what the executive pays! The TRUTH is that someone at $50,000 is at about 15% (MFJ)! http://www.irs.gov/formspubs/article/0,,id=164272,00.html So, Hillary either hopes we believe this LIE because she thinks we are stupid or she is so out of touch that she thinks everyone pays the same percentage of tax. Both situations are scary! What do you think? Notice the word PERCENTAGE? There is no way they are paying the same taxes. A person earning $50 million net, has a tax of $17.5 MILLION. Taxpayers at $50K net income don't pay a 35% tax! Get real! No one can tell me that the "rich" don't pay their fair share! We have a client that, between federal and state, pays about half of his income into taxes. People earning $50K don't do that! The only difference between Hillary & Obama is one is an empty suit with a grin and the other wears ugly pant suits. His proposals also suck. BTW, McCain isn't great either. I do know what I'm talking about with taxes - I've prepared tax returns for about 15 years so please don't lecture me about mis-understanding what she's talking about.... Read More »
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