On Sat, 3 May 2008 17:27:12 -0500, "Steven P. McNicoll"
wrote in
:
Larry Dighera wrote:
Who benefited from the Bush tax cuts?
Taxpayers.
I would venture, that you and I, and the vast majority of tax payers
were not among those families earning more than $1 million a year who
benefited most:
http://www.nytimes.com/2007/01/08/washington/08tax.html
Tax Cuts Offer Most for Very Rich, Study Says
By EDMUND L. ANDREWS
Published: January 8, 2007
WASHINGTON, Jan. 7 — Families earning more than $1 million a year
saw their federal tax rates drop more sharply than any group in
the country as a result of President Bush’s tax cuts, according to
a new Congressional study.
The study, by the nonpartisan Congressional Budget Office, also
shows that tax rates for middle-income earners edged up in 2004,
the most recent year for which data was available, while rates for
people at the very top continued to decline.
Based on an exhaustive analysis of tax records and census data,
the study reinforced the sense that while Mr. Bush’s tax cuts
reduced rates for people at every income level, they offered the
biggest benefits by far to people at the very top — especially the
top 1 percent of income earners. ...