Bush's Shrinking Safety Zone

[richlevy]

Originally Posted by tw

He lies about how much the drug bill will cost so that excessively high drug prices can be protected AND so that government will price support those profits.

Speaking of lying, I just saw GWB giving a speech saying that if tax cuts are not made permanent, families making $50,000 a year will pay 50 percent more in taxes.

I'm trying to understand what kind of math he was using, or if he was playing games with words and that he wasn't actually saying that their total federal income tax of all or most families would rise by %50, but that some combination of circumstances and deductions made it theoretically possible to raise the taxes of one or more families by %50.

For example, a family living entirely on dividends from a stock in Yugoslavian eel farming.

I haven't found any analysis yet on factcheck.org. I'd be real curious about it.

From here.

By letting people keep more of what they earn, this economy is strong. Unfortunately, just as we're seeing the evidence of how the tax cuts have created jobs and opportunity, some in Washington are saying we need to raise your taxes. See, that's either by saying we're not going to make the tax cuts permanent -- in other words, they're going to expire -- or why don't we repeal the tax cuts right now. When you hear somebody say, let's don't make the tax cuts permanent what they're telling the American worker and the American family is, we're going to raise taxes on you. If that were to happen, a Chicago family of four making $50,000 would see federal income taxes go up by nearly 50 percent.