Bush Misleads on Tax Cuts
During Thursday's debate President Bush said that most of his tax cuts "went to low- and middle-income Americans." That statement is flatly false.
An analysis by the Center on Budget and Policy Priorities found that, in 2004, the top 20 percent of earners received 69.8% of the tax cuts enacted by President Bush. While the middle 20 percent of earners received an average tax cut of $647, the top 20 percent received an average tax cut of $5,055. You can read the entire report by the Center on Budget and Policy Priorities here.
As a result, those in the middle class are paying a greater share of the federal taxes today than they were four years ago (Source here).
An analysis by the Center on Budget and Policy Priorities found that, in 2004, the top 20 percent of earners received 69.8% of the tax cuts enacted by President Bush. While the middle 20 percent of earners received an average tax cut of $647, the top 20 percent received an average tax cut of $5,055. You can read the entire report by the Center on Budget and Policy Priorities here.
As a result, those in the middle class are paying a greater share of the federal taxes today than they were four years ago (Source here).
posted by Price at 2:34 PM
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