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CBO report that comes out today says Bush raised taxes on the

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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-13-04 08:50 AM
Original message
CBO report that comes out today says Bush raised taxes on the
MIDDLE CLASS while cutting them for the rich. DUH Yeah I know but alot of Republican voters thought this was a librul media lie. Well not anymore. the proof is in. Spread it around.

http://www.washingtonpost.com/wp-dyn/articles/A61178-20...

Since 2001, President Bush's tax cuts have shifted federal tax payments from the richest Americans to a wide swath of middle-class families, the Congressional Budget Office has found, a conclusion likely to roil the presidential election campaign.

The CBO study, due to be released today, found that the wealthiest 20 percent, whose incomes averaged $182,700 in 2001, saw their share of federal taxes drop from 64.4 percent of total tax payments in 2001 to 63.5 percent this year. The top 1 percent, earning $1.1 million, saw their share fall to 20.1 percent of the total, from 22.2 percent.

Over that same period, taxpayers with incomes from around $51,500 to around $75,600 saw their share of federal tax payments increase. Households earning around $75,600 saw their tax burden jump the most, from 18.7 percent of all taxes to 19.5 percent.

The analysis, requested in May by congressional Democrats, echoes similar studies by think tanks and Democratic activist groups. But the conclusions have heightened significance because of their source, a nonpartisan government agency headed by a former senior economist from the Bush White House, Douglas Holtz-Eakin. The study will likely stoke an already burning debate about the fairness and efficacy of $1.7 trillion in tax cuts that the president pushed through Congress.

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tandot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-13-04 08:53 AM
Response to Original message
1. your link doesn't work. n/t
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salvorhardin Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-13-04 08:55 AM
Response to Reply #1
2. Working link
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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-13-04 09:00 AM
Response to Reply #2
3. Thanks
I'm waiting for the official report to get released then I'm posting it all over the net. They've got away with this lie for YEARS. I can't wait to give it a funeral. The CBO report also has an added bonus, Bush is LYING again. do you know how many speeches he's given saying this isn't true. the CBO is bi-partisian. Now only if the Kerry Campaign takes the ball and runs with it. We could knock 5 points off his poll numbers if it's done right. HAPPY DAYS.....
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tandot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-13-04 09:32 AM
Response to Reply #2
4. Thanks for the link, salvorhardin n/t
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tandot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-13-04 09:42 AM
Response to Original message
5. This just says it all.
I have to think about a new bumper sticker slogan to remind the middle class about how Bush's rich buddies get to keep more of their money while us less fortunate are paying more and more taxes.

I haven't noticed any decline in my taxes. I make under $20,000 and hardly make it from month to month. If there was any decrease in my tax burden, it was eaten up by higher prices for groceries and gasoline.

This is good news for Democrats. I hope Kerry points that out where ever he goes and speaks.

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mongo Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-14-04 11:44 AM
Response to Original message
6. Great post
and it doesn't even account for the increase in sales tax, property tax, and state income tax in many states due to decreased federal funding.

At some point you would think that the middle class would get it.
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Toucano Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-16-04 10:13 PM
Response to Reply #6
7. Bingo!
We can't let them forget that this is just FEDERAL taxes.
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