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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: CalculatedRisk who wrote (10637)8/13/2004 9:35:30 AM
From: mishedlo  Read Replies (1) of 116555
 
CBO - Bush tax cuts help rich
Bush tax cuts help rich

Congressional Budget Office says tax burden fell for those making $1M, increased for lower levels.

NEW YORK (Reuters) - President George W. Bush's tax cuts have transferred the federal tax burden from the richest Americans to middle-class families, with one-third of the cuts benefiting people with the top 1 percent of income, according to a government report cited in newspapers Friday.

The Congressional Budget Office report, to be released Friday, is likely to fuel the debate over the cuts between Bush and his Democratic challenger in November, Sen. John Kerry.

read the rest here:
money.cnn.com
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