Originally posted by Jasun
Whenever anyone talks about the tax cuts, I always snap them back with "I didn't know you were a Millionaire! thats' great".

Because the majority of the tax cut went the the richest 1% of America. Some help that was to Walmart employees and The Service Industry.
Jasun

Not to pick nits --- but that is a mischaracterization of the law. FOr example, Wal Mart employees and millionaires in 2002 received a $600 credit for each kid. In 2003, they all received $1000.

Also if you made over $28,000 you effective received a 2% or greater reduction in your tax rate. Bill Gates' rate went from 38% to 35%, but also the people making $15/hr at Dell technical support had their tax rates lowered from 27% to 25% or in some cases 15%.

Also, if you work at Dell tech support and buy into the stock purchase program, and then decide to sell your stock - your capital gains rate was halved, from 10% to 5%. (it goes to 0 in 2008, *if* you are not in the top tax brackets; Bill Gates will still pay 15% though.)

That is just some examples. It is misleading to employ class envy regarding the tax changes. The wealthiest people in general always pay the most into the tax system, so obviously they are mathematically going to be the most effected.

Steve