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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.
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Actually, until recently I wasn’t able to purchase a house because we weren’t set financially. We are now ready to do so, to buy a modest house, but we haven’t 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 wasn’t good enough.
But, yes we weren’t 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 ‘tax cuts for the rich’ won’t define what amount of income constitutes rich. I’ve watched them be asked point blank, and they won’t answer. Their class warfare won’t work when it is found out they mean much of the middle class as well.
According to the IRS’s 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 don’t feel in the top 10%. I sure as hell can’t spend like I’m in the top 10%. When the liberal leadership talks about tax cuts for the rich, I’ve heard and seen them use ‘tax cuts for the wealthiest ______’ with that percentage being alternatively 1%, 5%, and 10%. I’ve actually seen Daschle and Gephardt use the 10%. For some reason, they don’t think I could use a tax cut. That greatly offends me.
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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.
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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 you’re married.
Now, depending on how much your household makes, King, you could very well be rich. Bet you didn’t know that.
Of course, there are cost of living adjustments between where I am and where you are, so I’m leaving that out of the discussion for the time being.