Originally posted by KingofCards
You've stated a similiar assertion in the past? What IS considered rich based on this tax cut/"liberals'" definition. I find it hard to believe how anyone that cannot purchase a house would be considered rich.
Actually, until recently I wasnít able to purchase a house because we werenít set financially. We are now ready to do so, to buy a modest house, but we havenít been able to (the terminology I used in this thread). The market is nuts here. The last house we put a bid on, we had a mortgage commitment (which is apparently the best you can get), we waived all inspections and bid $8K over asking price and it still wasnít good enough.
But, yes we werenít ready financially until this year to buy one. Being laid off 3 times in 4 years will do that to you.
As far as definitions, that is a major crux of the argument. The liberal leaders, the ones who keep harping on Ďtax cuts for the richí wonít define what amount of income constitutes rich. Iíve watched them be asked point blank, and they wonít answer. Their class warfare wonít work when it is found out they mean much of the middle class as well.
According to the IRSís own information, last year my household (the unit in which my taxes are calculated) AGI was above the floor of the top 10 percentile. Sorry, but I donít feel in the top 10%. I sure as hell canít spend like Iím in the top 10%. When the liberal leadership talks about tax cuts for the rich, Iíve heard and seen them use Ďtax cuts for the wealthiest ______í with that percentage being alternatively 1%, 5%, and 10%. Iíve actually seen Daschle and Gephardt use the 10%. For some reason, they donít think I could use a tax cut. That greatly offends me.
From what I know the Bush tax cut would not cut my taxes, and I own a house and two new vehicles. I am certainly not rich.
If you pay taxes, you will get a tax cut. All brackets are reduced and the bottom bracket is expanded. If you have kids, that would be even greater, greater still if youíre married.
Now, depending on how much your household makes, King, you could very well be rich. Bet you didnít know that.
Of course, there are cost of living adjustments between where I am and where you are, so Iím leaving that out of the discussion for the time being.