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Originally Posted by dc_dux
The Congressional Budget Office did an analyis of the Bush tax cuts in 2001 and 2003. Among the findings:
* The bottom 20 percent of Americans will see their after-tax incomes increase by an average of 1.5 percent due to the Bush tax cuts, while the tax cuts will raise the after-tax income of the middle 60 percent by about 2 percent, on average.
* Those in the top 20 percent will enjoy larger after-tax income gains, with after-tax income increasing 3.3 percent due to the tax cuts. The top one percent will see its after-tax income grow by an average of 5.3 percenr, more than double the percentage increase enjoyed by the middle class.
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AH! That is part of what I was looking for. I remembered reading it in an article some time ago, but couldn't find it. Okay, so under Bush the rich
are enjoying more tax breaks. The other information I was looking for is the current percentage of income taxed in a given income bracket. I'm sure there are percentages given for like $10,000-$15,000 per year income, or $45,000-$50,000 per year income out there. I'd ask my acocunting department, but they are at work on other stuff right now.