Just As I Thought

More on those tax cuts

This from today’s Washington Post:

Three successive tax cuts pushed by President Bush will leave middle-income taxpayers paying a greater share of all federal taxes by the end of the decade, according to new analyses of the Bush administration’s tax policies.

As critics of the tax cuts in 2001, 2002 and 2003 have noted, the very wealthiest Americans — those earning $337,000 or more per year — will be the greatest beneficiaries of the changes in the nation’s tax laws. And, as administration officials have argued, low-income taxpayers will also enjoy a disproportionately lighter tax burden.

The result is that a broad swath of lower-middle, middle- and upper-middle-income people, as well as some rich Americans, will carry a greater share of the federal tax burden after the laws passed in the past three years are fully implemented. While taxes are scheduled to decline for all income groups, those earning more than $28,000 but less than $337,000 will end up paying a greater share of the taxes than they did before the changes.

Browse the Archive

Tweets

Browse by Category