Bush Tax Cuts Offer Most for Very Rich, Study Finds

[cal04]

Families earning more than $1 million a year saw their federal tax rates drop more sharply than any group in the country as a result of President Bush’s tax cuts, according to a new Congressional study.

The study, by the nonpartisan Congressional Budget Office, also shows that tax rates for middle-income earners edged up in 2004, the most recent year for which data was available, while rates for people at the very top continued to decline.

Based on an exhaustive analysis of tax records and census data, the study reinforced the sense that while Mr. Bush’s tax cuts reduced rates for people at every income level, they offered the biggest benefits by far to people at the very top — especially the top 1 percent of income earners.

Though tax cuts for the rich were bigger than those for other groups, the wealthiest families paid a bigger share of total taxes. That is because their incomes have climbed far more rapidly, and the gap between rich and poor has widened in the last several years.

The study offers ammunition to supporters and opponents of Mr. Bush’s tax cuts, which are all but certain to touch off a battle between the president and the Democrats who just took control of Congress.

http://www.nytimes.com/2007/01/08/washington/08tax.html?_r=1&ref=washington&oref=slogin

[stansnark]

1. study also finds most water wet

[Erika]

2. One big duh.

W has always been of the rich, for the rich, and by the rich. (Those pesky starving Americans should just die and slither down the sewer grates)

Now, how are we going to enhance the Iraqi experience? New schools, hospitals with universal health care, and more jobs for Iraqis.

Americans are chopped liver or less?

Uh, it's our taxes.

[pansypoo53219]

3. i am shcked

shocked i tells ya.


now, do the sheeple get it and can the remocrats repeal?