Did you get your tax cut?

  1. I got a refund because I made less money in interest.

    President Bush is scheduled to tout his tax cuts today at a Tax Day event in Iowa. He is expected to repeat his oft-heard mantra that tax cuts have helped all Americans. But according to a new poll by Money Magazine, "60% of Americans said the Bush tax cut did not personally help them"1. Meanwhile, almost half of all Americans say that their taxes have risen under Bush2. And a look at the record shows exactly why that majority opinion is factually correct.

    According to a non-partisan analysis, in the year 2006 88% of Americans will receive less than $100 from the president's 2003 tax cut3. Additionally, the president has refused to extend the full child tax credit to 16 million children4, including 250,000 children of military families5. At the same time, the president's 2004 budget proposed an increase of almost $6 billion in new federal taxes and fees6 while creating record-deficits that have forced states to raise taxes by $14.5 billion since 20017. And to top it off, he has reduced IRS audits of large profitable corporations whose tax rates have plummeted8, while increasing IRS audits of ordinary Americans9.

    Of course, there is a handful of people who are reaping a personal windfall from Bush's tax policy: President Bush, Vice President Cheney, and their top campaign donors. The president himself pocketed more than $30,000 in new tax breaks this year while the Vice President took in an extra $11,00010. And a new Public Campaign report shows that top Bush-Cheney contributors are raking in even more11. For instance, Charles Cawley, CEO of credit card giant MBNA, raised more than $200,000 for the Bush-Cheney campaign and was rewarded with at least $276,000 in tax breaks. Similarly, William MaGuire, CEO of UnitedHealth Group, raised more than $100,000 for the Bush-Cheney campaign and will get at least $329,000 in new tax breaks from President Bush.

    Sources:

    http://money.cnn.com/2004/04/15/news...ion_moneypoll/
    http://www.grandforks.com/mld/grandforks/8434182.htm
    http://www.ctj.org/pdf/2003statecut.pdf
    http://www.ctj.org/pdf/2003statekid.pdf
    http://www.usatoday.com/news/washing...xes-usat_x.htm
    http://www.washingtonpost.com/ac2/wp...nguage=printer
    http://www.ncsl.org/programs/fiscal/presbta03.htm
    http://www.mlive.com/newsflash/busin...lash-financial
    http://www.latimes.com/business/la-0...home-headlines
    http://www.commondreams.org/headlines04/0414-04.htm
    http://www.campaignmoney.org/spotlight/sis04_15_04.htm
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  2. 8 Comments

  3. by   jemb
    No tax cut here! My taxable income was about $1000 more in 2003 than in 2002. My federal income tax ended up being $1300 more than the prior year. My calculations show that to be an increase in taxes -- not a cut!
  4. by   teeituptom
    Bushies Tax cuts as shown earlier are mostly for his friends

    For the rest of us if we get anything at all. we need to realize Bushie is using tax monies to attempt to bribe us as being a supporter of him

    I am not interested in his 30 pieces of Silver

    I am not for sale
  5. by   sbic56
    Totally not tickled with this years taxes. I made a whole $1745 more in 2003, got $286 less than last year in return. And to think, for a moment, I actually thought this would be the one thing that would be better under Bush. I am as mad at myself for believing that as I was at the lost income.
  6. by   ArleneG
    I paid this year, first time ever. Only around $500.00 but it was alot when I was counting on a refund.
  7. by   Elenaster
    We paid too, just like we do every year. It's not like we're rich either and we had ample deductions considering we bought a new house in 2003. I was actually deluded enough to think we might get a small refund. As if!!!
  8. by   maureeno
    we saved more than $500 from last year
    I wish we had not

    one of my sisters and her husband saved more than $10,000
    she wishes she had not

    tax cuts were funded by debt

    interest rates are on their way up
  9. by   OC_An Khe
    Tax cut what tax cut? RN's are not rich enough to get a tax cut. And by trying to take away our OT we never will be. Go George W !!!!
    Remeber to vote in November.
  10. by   BeachNurse
    YEP!! We got, all together $2000 back in taxes..$600 last summer (2 kids) and then $1400 in refund this year when we filed in Feb.

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