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View Diary: The 2003 Tax Cuts -- Top 10% receive 90% the Benefits (209 comments)

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  •  Here's what the tax cuts mean to me (22+ / 0-)

    Amount saved on federal taxes: $0. I'm in the lowest tax bracket.

    But my state and local taxes have increased to make up for the resultant shortfalls in federal funding. And that's made my rent and utility bills go up.

    And my wages, as a member of the working poor, don't keep up with inflation.

    So what the BushCo taxes mean to me is that I'm in a worse financial situation than I would have been had the tax cuts never been passed. For me, the tax cuts are functionally a tax increase.

    Thwarting the forces of idiocy since 1978. -6.38, -6.00

    by wiscmass on Thu Oct 26, 2006 at 05:36:26 AM PDT

    •  Yes, fed revenues go down - state and local have (6+ / 0-)

      to go up.  Most folks don't think about this:
      Taxes go up on the state and local levels when the
      federal monies dry up.
      Reduce Millionaire's taxes and already heavily burdened families have to make up the difference at the local level.
      ie, State and local sales taxes go up, property taxes rise, wheel taxes rise, etc.
      It's become common for mayors to offer corporations local tax breaks to lure them to their towns and cities.  So you and I are the ones making up for their free rides.
      Thanks for the diary, Bonddad, you always get me started in the morning

      "United we stand, divided we fall"

      by Cassandra77 on Thu Oct 26, 2006 at 06:17:48 AM PDT

      [ Parent ]

      •  Exactly (5+ / 0-)
        And why I sadly will never vote for a school levy again (In fact, I plan to organize the oppostion to the next one, if they even dare to come back to us before we have school finance reform here in Ohio). My main beef is the glut of "luxury" townhouses they're building on every square inch of free land (and some not so free- they've knocked down some buildings to put these things up) that I could never dream of affording -- and they all have property tax abatements. So those of us with older homes have seen OUR property taxes skyrocket. The standard "do it for the children" line won't work because I'll just respond "Did you go across the street and ask the people in the $400,000 townhomes to give back their tax abatements "for the children?" If not, leave me alone." Either we ALL "do it for the children" or they can kiss my ass if they ask only the most strapped taxpayers.

        Seriously, I hope we DO have school funance reform in Ohio before it comes to this but with the Supreme Corruption Court decision yesterday on the constitutionality of the mostly failing charter schools, that is going to drain state school money at an increasingly rapid rate and put it in the pockets of GOP-backed profiteers. I need to find out how much campaign contribution money those Supreme Court justices got from the likes of David Brennan of the White Hat charter schools, some of which are among the worst. He's a HYGE GOP contributor and he has been allowed to just suck tax dollars out of our pockets to enrich himself.

        by anastasia p on Thu Oct 26, 2006 at 06:34:01 AM PDT

        [ Parent ]

        •  Tax abatements for condos? (1+ / 0-)
          Recommended by:

          Is that common practice for new construction? My community pushes new development to increase the tax rolls--if there are tax breaks for the buyers, I've never heard of it. How long is the time period before they are taxed at their full share?

          If anything, there should be tax abatements for elderly people who have lived in their home for many years, and are being priced out of older neighborhoods.

        •  I didn't know about property tax abatements. n/t (0+ / 0-)

          "United we stand, divided we fall"

          by Cassandra77 on Thu Oct 26, 2006 at 03:44:23 PM PDT

          [ Parent ]

    •  I would recommend this diary (2+ / 0-)
      Recommended by:
      blue jersey mom, wiscmass

      based on your comment alone - it's that good.

      Actually, there are several good comments here, typical of bonddad's diaries , so you get a 4 and bonddad gets a rec.

      •  I'd recommend... (2+ / 0-)
        Recommended by:
        sodalis, va dare

        ...that you send all the great comments to the Top Comments team -- I believe the address is TopComments AT gmail DOT com. At the end of the day, they always post all the best comments as nominated by dKos users.

        Thwarting the forces of idiocy since 1978. -6.38, -6.00

        by wiscmass on Thu Oct 26, 2006 at 10:30:48 AM PDT

        [ Parent ]

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