You are currently browsing the tag archive for the ‘tax cuts’ tag.

Some will do almost anything to attempt to make it seem like Republicans only promote tax cuts for the “rich”.  Today, TaxProf Blog provided a post, Republican Tax Cuts Skewed Toward Rich, with this graphic:

From TaxProf Blog

From TaxProf Blog

Hmmm…

That sure looks like the proposed Republican tax cuts favor the “rich” doesn’t it?

Wait a minute!  How much money are we talking about for each level of income in the graphic above?

Ah, see TaxProf didn’t bother to provide any context for his readers.  Instead, he’s leaving it up to his readers to figure out what he means by “rich”.

This graphic provides a bit more context:

taxcuts21

So, 94% of all the proposed tax cuts go to those households with $199,999 or less income.

What I find purposely misleading is the category “next 15%” with households between $92,500 and $199,999.  That is the widest gap of income in TaxProf’s graphic.  It’s hard to know how many households are at the $92,500 level versus the $199,999 level since they’re all lumped together, leaving us thinking many are at the higher end of the spectrum.

The US Census actually let’s us know how many households are in each and every income group! 

Of the 15% of households with incomes between $92,500 and $199,999:

  • 16% of households have income between $92,500 – $99,999; this income level is 3% of US households
  • 64% of households have income between $100,000 – $149,999; this income level is 9.9% of US households
    20% of households have income between $150,000 – $249,999; this level of income is 3% of US households

So, 80% of those in the income group TaxProf wants us to believe are “rich”, have a household income that’s between $92,500 to $149,999.

Anyone living in Manhattan, Los Angeles or Miami knows $100,000 to $149,999 ain’t “rich”.

Advertisements