I’m hardly one to espouse a naive (or sophisticated) self-interested view of political action. That being said, I chuckled when I read the following:
” Last year’s tax cut proved to be a significant windfall for its main architect and political instigator, saving President Bush tens of thousands of dollars on his 2003 return.”
Bush’s income fell four percent over the last year, to $822,126. His current income tax liability fell fifteen percent, saving the Bush family about $30,858. The Cheneys saved more than $88,000. But most of these savings were due to write-offs. In fact the Cheneys were hit by the Alternative Minimum Tax.
How about Kerry?
“Meanwhile, for Sen. John F. Kerry (Mass.), the Democrat seeking to drive Bush from the White House, his tax burden more than tripled on income that surged with the sale of a million-dollar painting.”
The Kerrys filed separately, but John reaped $1.35 million from the sale of a painting by Dutch Baroque artist Adam Willaerts.
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