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Newsflash: Tax Cuts Benefit Rich

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...

Posted by Bradford Plumer on 05/10/06 at 1:34 PM | E-mail | Print | Digg this | de.licio.us



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"In general, the art of government consists of taking as much money as possible from one class of citizens to give to another" Voltaire

Posted by: Ben Merc on 05/10/06 at 8:32 PM

Only a few of those in the bottom 40% pay any federal income taxes. If fact, most are more likely to receive earned income credits (cash) from the federal government if they work at all. Define what you mean by rich.

Posted by: Bob Winesette on 05/14/06 at 10:18 AM

According to the Holy Bible, "Better is the poor that walketh in his uprightness, than he that is perverse in his ways, though he be rich."
Yet, in this day and age, doesn't being poor equate to
being exposed to toxic chemicals, ect.
Rather than requiring employers to provide their employees with appropriate safety equipment, all's that's required is a sign stating that the immediate environment includes chemicals known to the state of California (or whichever) to cause cancer, ect.
Forget throwing a bone to the poor man--instead throw him a breathing mask...

Posted by: Michael L. Wagner on 05/14/06 at 8:36 PM

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