How did this turn into this?
The point was made that the Bush tax cuts were for the rich. The facts were everyone had a % cut, so those who paid more would pay only fractionally less.
Quote:
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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I really want to see this. While those who pay less taxes would obviously get less for their % back, I dont see how it can be 1.5x when both groups get the same fraction back.