Federal Government Policy Issues
Discussion and information on selected policy issues concerning tax, foreign relations, energy and other significant policies. The intent is to provide data and analysis that will assist in determining the appropriateness of the policy. Any posts containing rants, personal attacks on officials or other posters or which do not concisely present a point of information will not be published.Tuesday, May 16, 2006
Truth In Fact
When you read the news, you frequently come across soundbites which contain specific statements about a Federal Government policy decision. Although most of the facts presented in these soundbites are accurate, they are frequently misleading to the point of being deceptive. This post presents the truth on these types of "facts".
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Benefit of 2003 Tax Cut to Seniors
In signing the legislation (2003 Tax Cut)on May 28(2003), the President said "the good news" is that it will give 12 million 65-plus Americans an average tax reduction of $1,401. Experts say, however, that while those numbers are correct, they can be misinterpreted. An analysis done last month by the Center on Budget and Policy Priorities, a Washington research organization notes that 63 percent of households with people 65 and older—some 16.4 million—will save $100 or less. Only about 11 percent, or some 2.8 million households, will save $1,401 or more, according to its study.
In signing the legislation (2003 Tax Cut)on May 28(2003), the President said "the good news" is that it will give 12 million 65-plus Americans an average tax reduction of $1,401. Experts say, however, that while those numbers are correct, they can be misinterpreted. An analysis done last month by the Center on Budget and Policy Priorities, a Washington research organization notes that 63 percent of households with people 65 and older—some 16.4 million—will save $100 or less. Only about 11 percent, or some 2.8 million households, will save $1,401 or more, according to its study.
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