[Mb-civic] Bush Misleads on Distribution of Tax Cuts

[The Daily Mislead]

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THE DAILY MIS-LEAD

< http://daily.misleader.org/ctt.asp?u=1136375&l=50498 >
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BUSH MISLEADS ON DISTRIBUTION OF TAX CUTS

As a presidential candidate in 2000, George W. Bush pledged his tax cut
proposals "are especially focused on low and moderate income families."[1]
Those proposals became law - but a new study by the non-partisan
Congressional Budget office reveals that Bush mislead America about their
distribution.[2]

According to the CBO study, the wealthiest 1 percent of all taxpayers -
whose earnings average $1.2 million - are receiving an average tax cut of
$78,420 this year.[3] Meanwhile, the middle 20 percent of taxpayers - whose
earnings average $51,000 - are getting only a $1,090 cut.[4] Those in the
bottom 20% - averaging earnings of $16,620 - get just a $250 cut.[5] The
result: "President Bush's tax cuts have shifted federal tax payments from
the richest Americans to a wide swath of middle-class families."[6]

Sources:

1. "A Tax Cut with a Purpose," GeorgeWBush.com, archived from 11/2000,
http://daily.misleader.org/ctt.asp?u=1136375&l=50499.
2. "Effective Federal Tax Rates Under Current Law, 2001 to 2014,"
Congressional Budget Office, 08/2004, http://daily.misleader.org/ctt.asp?u=1136375&l=50503.
3. "Report Finds Tax Cuts Heavily Favor the Wealthy," New York Times,
08/13/04, http://daily.misleader.org/ctt.asp?u=1136375&l=50500.
4. Ibid, http://daily.misleader.org/ctt.asp?u=1136375&l=50500.
5. Ibid, http://daily.misleader.org/ctt.asp?u=1136375&l=50500.
6. "Tax Burden Shifts to the Middle," Washington Post, 08/13/04,
http://daily.misleader.org/ctt.asp?u=1136375&l=50501.

Visit www.Misleader.org for more about Bush Administration distortion. »

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