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I've been subscribing to Jim Hightower's Hightower Lowdown for years. In the current issue, he's made the inside of HL into a poster to communicate facts for political agitation.
I want to give you guys a taste of that information, and I also want to encourage you to go to www.hightowerlowdown.org and join up if you have not already. (Also, never pass up a chance to see and hear Jim Hightower in person. If you're a populist, you'll always feel better about fighting the good fight.)
If you think I'm tryin' to stir y'all up......you're right. I am.
Are You Better Off Yet? (excerpts from Hightower Lowdown, July 7, 2006 issue)
Tax Cuts
2001 Income Tax Cut Average cut for people making under $50,000 a year (71% of Americans): $425 Average cut for people making $1 million a year (0.1% of Americans): $59,216 Average cut for people making $10 million a year (0.00004% of Americans): $521,905
2003 Income Tax Cut Average cut for people making under $50,000 a year: $10 Average cut for people making $1 million a year: $25,450 Average cut for people making $10 million a year: $497,463
2006 Extension of Tax cuts for Capital Gains and Dividends Average cut for people making under $50,000 a year: $3 Average cut for people making $1 million a year: $59,972
Repeal of Estate Tax
Percentage of US families that pay any estate tax whatsoever
.1.2%
Percentage of estate tax paid by richest 5% of Americans
99%
Amount of money that repeal of this tax will take from our public treasury & put in the coffers of the richest families in one decade
..
$1 trillion
Number of superrich families that have quietly funded A stealth campaign for the past 10 years to promote The repeal of the estate tax
..18 (including the Waltons of the Wal-Mart fortune and heirs to Gallo wines, Campbell soup, and M&M candies)
Total savings that just these 18 families would reap if the tax is repealed
$71.6 billion
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