Newsflash: Tax Cuts Benefit Rich

| Wed May 10, 2006 5:34 PM EDT

Naturally, the Center on Budget and Policy Priorities has everything you need to know about the latest capital gains tax cut passed by the House and Senate. Republicans apparently had to use every trick in the book to try to hide the cost of the bill. And CBPP's graph in the middle is especially striking: Households with incomes of over $1 million will reap an average of $41,977 from the cut, while the bottom 40 percent of taxpayers will receive an average of $10. Hot damn; now I can finally pay off those library fines...

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