How to get a quick 69 billion/yr for the federal coffers = repeal the bush tax cuts to the top 1%

http://www.ctj.org/html/gwbfinal.htm

charts with percentage breakdown for first four quintiles of income & top 15, 4 & 1% at link.


Citizens for Tax Justice , 202-626-3780 May 26, 2001

Final Version of Bush Tax Plan Keeps High-End Tax Cuts, Adds to Long-Term Cost

The tax plan approved by Congress on May 26, 2001 preserves the high-income tax cuts proposed by George W. Bush, but adds enough new tax breaks to make the final bill 20 percent more costly that the original Bush plan.

A distributional analysis released by Citizens for Tax Justice shows that when the tax plan is fully phased in:

*The typical tax cut for the median income taxpayer will be $600 a year.

*For the 78 million taxpayers in the lowest 60 percent of the income scale, the tax cut will average $347 a year.

*In contrast, at the top of the income scale the average tax cut will be $53,000 annually--virtually identical to the $54,000 annual tax cut proposed by the President.


on edit: the 2001 tax cuts were less than half of bush's cuts - another round came in 2003.

especially from their Astroturf minions

a bigger share of the nation's wealth than ever before.

this includes *all* cuts, including, say, the child care credit.

the top 1% will still have the gains they netted from investing 10 years of big tax cuts: the rest of us will have higher taxes, debts, & consumer junk.