Saturday, December 11, 2010

Sometimes A BJ Makes A Lot Of Sense

The BJ in this case is BJ from DemWit with her post titled Bad week for the little guy: a chronology.

Here is what people are angry at with extending the Bush tax cuts for everyone.  Take a look at this figure:


All the benefit of extending the Bush tax cuts go to people making over one million dollars per year.   According to the figure, the rest of us get practically nothing.

This figure, while true, is somewhat misleading because of the scale of the numbers and the number of people involved at each income level.  For example, with the Bush tax cuts, the bottom tax percentile is 10%.  If the Bush tax cuts were to expire, their rate will go up to 15%.  That is a 50% increase, but the actual amount of money is so small compared to the $100,000 that the millionaire plus's get, that it gets lost in this figure.

But a 50% increase in taxes is NOT nothing to the person that is paying it.  Want to hear people scream?  Try raising the millioniares taxes by 50%.  It's the same increase, but millionaires have a bigger voice...and owned part of Congress.

BJ has gone to a lot of trouble to describe what has happened over the past week or so, and how the tax compromise benefits the majority of Americans.  She also shows how the Democrats have worked hard to the benefit of the majority of Americans and the economy, and how the republicans have repeatedly been willing to sacrifice the welfare of the majority of the American people and the American economy so that the top 2% of people can continue getting their Bush Bonus Tax Cuts.

Whether you agree with the tax cut compromise or disagree with it, go to DemWit and read BJ's post.  It is well worth the time and clearly delineates the differences between the what the Democrats want to accomplish for all the American people and what the republicans want to accomplish for only 2% of the American people.

BJ, job well done!

2 comments:

  1. What a good guy you are. I read it first thing this morning and think it's excellent.

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