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For those who complain about President Bush’s tax cut plan being nothing but a boon for the rich, I ask a question.
If a person earns $1 million, he currently would pay about 38 percent, or $380,000, in taxes. If the top rate is reduced to 33 percent, he would see a savings of roughly $50,000.
This would buy a Lexus automobile–$50,000 is a large sum of money, more than some people earn in a year.
Those who oppose the tax cut fail to mention the $346,000 that our millionaire is still paying in tax.
Therefore, my question: Is $346,000 chicken feed?
