President Barack Obama Message Board

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Politics : President Barack Obama

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To: Road Walker who wrote (92534)	4/16/2011 9:03:15 AM
From: cirrus	Read Replies (2) of 149317

During the 2000 campaign Al Gore repeated over and over that 90% of the Bush proposed Bush tax cuts were to go the richest 10% of the taxpayers. Gore proposed keeping the surplus in a social security "lock box". Bush grinned and replied "Everybody who pays taxes gets a tax cut". Bush was elected. (Forget the Florida thing - it should not have even been close.) Why? Folks just don't get it. According to an analysis released Thursday by the Economic Policy Institute, the average tax rate for the top 1 percent of households dropped by about 20 percent from 1979 to 2007, while the average tax rate for all Americans dropped by just 8 percent over that time. However, in just the period from 1992 to 2007, the tax rate on the top 400 households in America — those with an average annual income of nearly $350 million — fell by more than a third. In fact, the tax rate for these supermillionaires is now less than the tax rate for average Americans.

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