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Wednesday, October 04, 2006

USA TODAY Reports But Downplays Tax Cuts

You know, I happen to like the USA TODAY - despite its obvious leftward lurches and borderline treason with publishing sensitive national security information. They have a great Sports section, the Life section is very informative and entertaining, the Money segment is often useful and enlightening, and even the Travel features are great too. But when this newspaper reports a good news story for the Bush administration, it has to carefully couch it in some kind of criticism.

Case in point: A recent article's headline reads "Income Tax Cuts Benefit All Players," but then its sub-headline (in the actual paper) reads "Bush changes still put burden on middle earners."

This article then goes on to sprinkle barbs and criticisms on top of all the good news. While it points out that "those earning 75-500K are shouldering a larger share of total taxes paid as millions more of them earn higher incomes and get hit with the "Alternative Minimum Tax," it calls them "middle earners" in order to resonate more with the reader.

Wait a minute! Is the median income in America really somewhere between 75 and 500 G's? I think not! Turns out, the average American income is around 46K...well short of the 75K minimum described as "middle class."

WAY DOWN on this article, some facts begin to emerge:
  • Millions of lower-income Americans (25K or less), have been taken off of the federal tax roles.
  • Income for the highest-earning Americans dropped sharply from the 2000-2002, following the end of the bull stock market of the late 1990s, then grew rapidly from 2002 to 2004 as the economy recovered.
Apparently, President Bush's Tax Cuts are working for everyone. Along with the new record of 11,850.61 achieved by the DOW and dramatically falling gas prices, the U.S. economy is still a "bull market," regardless of how the liberal media and the minority party would like to paint it.


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Retired Navy and Cold War/Gulf War Veteran. Senior Analyst for a large defense contractor, Bachelor of Science, Father, moonlighting Graphic Designer (T-shirts etc) and Blogger.

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