taxes

42.2 Cents of every tax dollar spent on the military tops the list

Quoted: How Your Tax Dollars Are Spent

Quoted: He asked me where America was going to get the $700bn needed for the splurge. I reminded him that the legislation (at least last I looked) only authorized $350bn upfront and only $250bn of that would be funded initially. I pointed out to Nathan that if we up and left Irag this month and walked away from all of our financial commitments to Iraq and it’s security, we’d save $250bn over the next two years. We could use that money buying the crap assets, holding them through the downturn, and then flip them when things get better, hopefully for a profit. That’s a hell of a lot better than spending $250bn providing a police force for Iraq while they assemble an oil-funded surplus for their own account, not ours.

Good article comparing both sides. Depending on your situation, you'll probably come to different conclusions. Feel free to skim to the end though.

Quoted: Job No. 1 for the next president? In the minds of an overwhelming number of Americans, it's fixing what ails the sick economy. What the voters will have to sort out are very different approaches offered by Barack Obama and John McCain.

i just don't understand how republicans sleep at night...

Quoted: According to a new analysis by the Tax Policy Center, a joint project of the Urban Institute and the Brookings Institution, Democrat Barack Obama and Republican John McCain are both proposing tax plans that would result in cuts for most American families. Obama's plan gives the biggest cuts to those who make the least, while McCain would give the largest cuts to the very wealthy. For the approximately 147,000 families that make up the top 0.1 percent of the income scale, the difference between the two plans is stark. While McCain offers a $269,364 tax cut, Obama would raise their taxes, on average, by $701,885 - a difference of nearly $1 million.

If you want a downloadable tax program, TaxAct is the cheapest by far.

Quoted: In fact, TaxAct's prices are so good I am wondering why I have never heard of them before. (They even have a FREE standard program.) I can tell you from past experience that TurboTax and TaxCut are relatively user-friendly. Though I have never used TaxAct, Bald Man is switching back to it this year so it must be good.

40% of Americans have a negative tax rate and the top 1% of Americans pay 40% of the taxes. And it's only getting more severe do to the broadening income gap.

Quoted: Did Bush cut taxes for the rich? Yes. But he cut taxes for the poor even more. If we look at the measure that really matters - the change in effective tax rates - the bottom 50% got a much bigger tax cut than the top 1%. Did the dollar value of Bush's tax cuts go mostly to the wealthy? Absolutely. It could hardly be otherwise. Since the well-off pay the overwhelming majority of taxes, any tax cut with a prayer of influencing the economy would have to go mostly to them.

Quoted: The real issues here are clear. One is having a shrinking minority of citizens pay most of Washington's bills. Social cohesion falls apart. The majority who pay nothing resent those with higher incomes; the minority who pay heavily resent those who don't pay.

Quoted: Official site of Andrew Gause. Andrew has attracted a wide following with over 1,000 TV and radio appearances, publishes a newsletter, THE WORLD OF MONEY, in its 20th year, and has authored two books. Get educated on our current monetary system today!, Bio for Andrew Gause