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Bush Tax Cuts favor the rich?
August 17, 2004 5:25 PM

Well, ya...

According to the non-partisan Congressional Budget Office, "the wealthiest 1 percent of taxpayers -- those with an average income of over $1 million -- would see their total effective tax rate fall from 33 percent in 2001 to 26.7 percent in 2004. At the same time, the group politicians refer to as the middle class -- that is, the 60 percent of Americans with incomes that fall in the middle -- will see its effective tax rate reduced by less than 1 percentage point under the Bush tax cuts."

Yes, it's true that the rich pay most of the country's taxes, but Bush's tax cuts were never sold as a give-back to the rich. Now the CBO states quite clearly what we've all known - Bush's policies favored giving back proportionally more money to the wealthy than the middle class...

well, ya!

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This whole notion of tax cuts in a time of war and a huge deficit is plain crazy. Forget about who currently carries more of the current burden, we've now set up our children to get slammed with a rediculous fiscal responsibility. As if it won't be bad enough supporting the baby-boomers through their elderly years, why don't you just pile on some more!

- Posted by Matthew - October 13, 2004 1:50 PM

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