Srexley, here's another one for you where both liberals and conservatives agree that the tax "cut" was actually a tax increase over the next decade for middle income Americans in the 28k to 337k brackets. It's a tax cut for the very poorest but especially for the VERY RICHEST.
commondreams.org
EXCERPT:
>>"Three successive tax cuts pushed by President Bush will leave middle-income taxpayers paying a greater share of all federal taxes by the end of the decade, according to new analyses of the Bush administration's tax policies.
As critics of the tax cuts in 2001, 2002 and 2003 have noted, the very wealthiest Americans -- those earning $337,000 or more per year -- will be the greatest beneficiaries of the changes in the nation's tax laws. And, as administration officials have argued, low-income taxpayers will also enjoy a disproportionately lighter tax burden.
Conservatives and liberals alike agree that Bush's tax policies have shifted more of the tax burden to the middle class.
The result is that a broad swath of lower-middle, middle- and upper-middle-income people, as well as some rich Americans, will carry a greater share of the federal tax burden after the laws passed in the past three years are fully implemented. While taxes are scheduled to decline for all income groups, those earning more than $28,000 but less than $337,000 will end up paying a greater share of the taxes than they did before the changes.
The findings, by two groups that have been critical of the Bush administration's tax policies, add a new wrinkle to the increasingly contentious debate over the fairness of Bush's tax policies and which income groups would benefit most.
Liberal groups have argued that the Bush administration is penalizing the poor while rewarding the rich. In part to answer those critics, Republicans have targeted the poor with expanded tax refund checks for families with children, a new 10 percent tax bracket and a larger earned-income credit for married couples who are poor.
The result may be a surprise to both sides: By the end of the decade, the middle class will be picking up a greater share of the government's tab."<< |
