One more reason (in case you didn’t already have enough)
Posted at 8:27pm on Monday, October 4th, 2004Found at Daily Reasons to Dispatch Bush… Reason 127:
One-third of the tax cuts created by President Bush in the last three years have gone to the richest 1 percent of Americans, who earned an average of $1.2 million annually, according to a report by the nonpartisan Congressional Budget Office. That 1 percent received an average tax cut of $78,460; those in the middle 20 percent got only $1,090 on average. The average after-tax income for the top 1 percent climbed 10.1 percent; that of those in the middle 20 percent climbed 2.3 percent�and their share of the overall tax burden went from 18.5 percent to 19.5 percent. The after-tax income of the bottom fifth rose only 1.6 percent. Independent analysts have argued in the past that Bush’s tax cuts favored the wealthy, but the CBO, run by the former chief of Bush’s own Council of Economic Advisers, is considered authoritative.
