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Discretionary Income
is what makes the difference between your tax break and Bill's. The middle and lower income citizens have LESS discritionary income, if they have any at all, whereas, the wealthy have a considerable amount of discritionary income even without tax breaks. For those who don't know, DI is income that is left over AFTER basic needs (Housing, transportation (not necessarily a car), food, clothing (not your fashion designer labels) and utilities. That is how our Gov. keeps the poverty level so low--so low it is unrealistic. What you and most middle incomers do with thier paltry $600 is spend it promptly on friviolus things like medical bills, christmas gifts, credit card debt, car insurance. The wealthy probably reinvested their $90,000 into real estate, vacation yatch, trip to China, or the big spenders casino--the stock market. Chances are, $2000 of it went to G. W. Bush's campaign or the RNC coffers--a small token of their appreciation.
Percentages is a mathmatical equalizer--but it doesn't reflect the reality of living, nor the cost of living.
posted by
freerain
on January 8, 2004 at 11:39 PM
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