Tax Cuts For The Rich

Ken McCracken  •  November 1, 2007

Or maybe not so much, given this interesting graph from the New York Times:
image
You’ll notice that starting around the beginning of the Bush administration, tax rates started going down for the richest tax-payers…as well as every other level of income as well.
Which means that “tax cuts for the rich” is a flat-out lie.

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  • http://Array jamesish

    did you happen to read the article?

    “A family in that top 1 percent of earners paid a total federal tax rate — including everything from payroll taxes to income taxes to capital gains taxes — of 30 percent in 2004. That was down from 41 percent a decade before”

    …and…

    “the effective corporate tax rate isn’t any higher than it has been on average over the last 25 years, and it’s far lower than it was in the 1960s and ’70s.”

    …point to a tone in the article completely opposite to the one you insinuate. Bush hasn’t cut them much on his own. they have been in sharp decline since the 80s as the top earners have grown exponentially richer. cool graphic though.

  • http://SayAnythingBlog.com The_Whistler_ofnd

    And those same 1% pay a greater portion of the total tax bill than ever before.

  • 2Hotel9

    “Tax Cuts For The Rich” Cool!!!!!!

    More work for everyone!!! More pay for everyone!!!!!

    More tax revenue for government!!! BOOOOOOO!!!!!!

  • robert108

    It’s not rocket science; jobs are created by capital investment; taxes redirect that money to the political class, where it isn’t available for capital investment; therefore, decreasing tax rates frees up more money for economic growth.

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