by Charles A. Monagan
Jul 20, 2012
01:51 PM
On Connecticut

Feeding the Rich

 

Did some quick calculations on the tax-savings calculator Linda McMahon just released as part of her new "middle class"  tax-cut proposal.

Very interesting.

According to the calculator, if you make $180,000 a year with two exemptions as a married couple filing jointly, you'll save $12,322, or 6.8% of the total.

If you make $90,000 with everything else the same, you save $2,357, or 2.61%.

If you make $40,000 with everything else the same, you save $875, or 2.1%

And if you make $400,000 with everything else the same, you save $26,385 under McMahon's plan, or 6.5%.

So if the wealthy aren't making out well enough at present under federal tax laws, McMahon is going to favor them even more in the future. Good to know.

Feeding the Rich

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