Saturday, January 16, 2010

Is Mel Watt going to vote to charge every American child about $1,600 to give Rush Limbaugh what could be about $15,324,704 over two years?

"Compared to the Tax Cuts Extended scenario,
total tax liability for the Obama Plan scenario would be $7,662,352 higher

..................................................................Tax Cuts Extended................Tax Cuts Expired

Adjusted Gross Income...................................$78,000,000.....................$78,000,000?


About $38 million of earned income
At least $20 million of dividends on about $1 billion
At least $20 million of capital gains on on about $1 billion
= about $78 adjusted gross income?

Tax Liability on $38 million of income...................$19,273,989.....................$26,936,341?

Average Tax Rate..................................................24.53%.............................34.29%"?

$26,936,341 - $19,273,989 = $7,662,352 x 2 years = $15,324,704?

What is the estimated net worth of Rush Limbaugh?

Tax Calculator
Single
Tax Plan: Tax Cuts Extended vs. Tax Cuts Expired
Tax Year: 2011
AMT Patch: AMT Patch in effect
.
If about 1,699,000 US households make more than $250,000,
and their portion of the tax cuts cost $120 billion,
and $120,000,000,000 / 75,000,000 Kids = $1,600 per American Child,
and $120 billion divided by 1,699,000 = $70,629.78,
is Mel Watt going to vote to charge everyone’s kids $1,600 each
to give all the households making more than $250,000 per year
an average of $70,629.78 each?

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