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reason why such a high percentage of our population doesn't pay taxes. • a Republican majority Congress and President enacted the Balanced Budget Act. $ -per tax credit which began in. This caused the top nonpayer threshold to jump more than $7, , to about $31. • the tax credit automatiy increased to $ per, and the threshold for a married family with two grew to $32, in today’s dollars. • President Bush and the Republican Congress enacted a law that increased the tax credit to $. This law also introduced the 10% income tax bracket, which lowered by 5 percentage points the lowest income tax rate. The combination of these two tax changes raised the top nonpayer threshold to $38. •The tax law enacted by President Bush and the Republican Congress accelerated the $1, per. This increased the threshold to $47, in. That’s a huge jump. It was incredibly popular, and it helped create political impetus for the law which also accelerated rate reductions and cut capital gains and dividend rates. •The stimulus (President Bush + Democratic majority Congress) included stimulus checks of $1, per married couple, plus another $ per. This increased the threshold to $56. This was a one-time increase, however, and the non-stimulus threshold for was about $44. •In President and a Democratic majority Congress increased this threshold to $51, with the new “making-work-pay” tax credit. This was enacted on near party-line votes. That threshold drops slightly to about $50, this year. cited from It was all about families. Of course if income/wage for the lowest earners had kept pace with the highest earners the CTC and EITC wouldn't have had this affect, but our millionaire congress wanted the middle class to pay for the poor, so they would hate and blame them. Evil geniuses they are. outcall girls College Park
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