YOUR CTAX

OMINGCUT

OONNOO(

TRR

OOT )

TAX(n.) the act of re

CUTducing taxation

THIS USUAL

Government real income falls.

$ $

$LLY MEANS

$

Residents’ real income rises. (if the tax cut affects them)

THE BUSHCOULD BE

AT THE20

TAX CUTSRENEWEDEND OF10

FORWHAT DOESWHAT DOES

FORAMERICAN

THETHIS MEANTHIS MEANTHEPEOPLE?

ENTIRE U.S.

POPULATION

ENTIRE U.S.

POPULATION

12.5%will make less than $10,000 in 2011.

16.5%will make

$10,000 - $19,999.

13.1%will make

$20,000 - $29,999.

10.3% will make $30,000 - $39,999.

will make$40,000 - $49,999.

8%

13.1%will make$50,000 - $74,999.

3.4% will make $75,000 - $99,999.

11.9% will make $100,000 - $199,999.

3.4%will make

$200,000 - $499,999.

0.6%will make

$500,000 - $999,999.

0.3% will make over $1,000,0000.

1/3 of this 0.3%

makes an average of$7,700,000.

SIZE OF TAX CUT INCR

Avg. 2011Income

$0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000

$5 $137 $503 $719 $836 $11

EASES WITH INCOME.

$75,000 $100,000 $200,000 $500,000$1,000,000 $7,700,000

80

$1936$3810

$7484$19,480

$128,832

$339,473

AVG. INCREASE IN

Avg. 2011Income

$0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000

+0.1% +0.9% +2.2% +2.4% +2.2% +2.3%

$75,000 $100,000 $200,000 $500,000$1,000,000 $7,700,000

+2.8%+3.5%

+3.4%+3.8%

+6.2%

+6.9%AFTER-TAX INCOME

Macau is one of China’s two special

administrative regions (SAR).

Macau has expeconomic growth

casino

erienced strongdue to its thrivingindustry.

The Four Seasons Macau experienced

over 300% growth in it’s first year of

operation.

0

3250

6500

9750

13000

‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09

Inbound Tourist Arrivals (1000s)

Data from the World Tourism Organization shows that

inbound tourist arrivals have increased by 147.6% from

1995 to 2009.

At the same time, there has been 348% growth in

Macau residents traveling abroad.

0

75

150

225

300

‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09

Outbound Resident Tourist Departures (1000s)

One possiblegrowth in the cas

have led toof living that allows

Macau to

claim is thatino industry maya higher standardmore residents oftravel.

Another possibilityresidents have mo

resulting from

is that moreved to Macauthe growing economy.