Thanks to the New York Times I now know how much advantage there is in being a rich Republican.
The Bushes paid 27.7 percent of their adjusted gross income in federal income taxes. The Cheneys, whose income was much larger, paid 19 percent of their adjusted gross income, though when their income from tax-exempt bonds is considered, the Cheneys' effective tax rate was 12.7 percent.
I'm paying about 25 percent of my AGI in federal taxes. My income is a tiny fraction of these guys, and my mortgage deduction is proportionally a lot larger. So why am I paying about the same fraction of my income as the Bushes and a lot more than the Cheneys?

Man, I need to make a million bucks a year.

  2004-04-14 15:19 Z