Sure the Middle Class Will Benefit from Tax Cuts

From Atrios:

Lying like a rug on the tax cuts

David Rosenbaum of The Newspaper of Record (when they axe Lelyveld, that is) has a great headline:

Bush May Have Exaggerated, but Did He Lie?

My goodness gracious, are such things possible?!

What is more important is that the tax relief most people will receive is quite meager, hardly the impression the president sought to leave when he campaigned around the country for the plan.

Mr. Bush kept emphasizing the tax benefits for people with modest incomes, not the more extensive tax relief he wanted for the well heeled. He often had onstage with him a couple with two children and an income of $40,000 or $50,000 whose taxes would be cut by more than $1,000, mostly because of the increase in the child tax credit.

But the indisputable fact is that the bulk of the tax cut will go to the wealthy. A study by Citizens for Tax Justice, a liberal research institute whose calculations have gone unchallenged, found that half of all taxpayers would get a cut of less than $100 a year this year and that by 2005, three-quarters would get less than $100.

On the other hand, almost two-thirds of all the tax savings will go to the wealthiest 10 percent of taxpayers, and the richest 1 percent will get an average tax reduction of nearly $100,000 a year.

I don’t think these guys even know when they’re lying any more. They just say whatever it takes.

It would be nice to have a President who at least knew what the truth was.

 

No Response so far to Sure the Middle Class Will Benefit from Tax Cuts»

RSS Comments Feed RSS Comments Feed · TrackBack URI

Leave a Comment for Sure the Middle Class Will Benefit from Tax Cuts

Related posts to Sure the Middle Class Will Benefit from Tax Cuts

Serious Future Budget Problems

Is running up huge deficits today the Republican plan to curtail future spending? US 'faces future of chronic deficits' By Peronet Despeignes in Washington The Bush administration has...

Warren Buffet on Tax Cuts

Even Warren Buffet is against the Bush tax cuts! The second richest man in the world, Mr Buffett, known as the "Sage of Omaha", criticised plans...

Accounting Misdeeds

From The 10b-5 Daily: Second Largest Accounting Firm Settlement Ever - The Associated Press reported on Friday that KPMG has agreed to a $125 million settlement...

Airport Security

Congress is so concerned about our well being while flying that it has mandated that the Transportation Security Administration cut 6,000 baggage screener jobs at...

Brad DeLong on Greenspan

Why Oh Why Can't We Have a Better Press Corps? Part CCXIV Time to Bang My Head Against the Wall Once Again... Why, oh why, can't...