Monday, April 12, 2004

A brief word on taxes


The Bush tax cuts that have taken effect so far are heavily tilted toward the very
wealthiest taxpayers—and the tax cuts will become even more regressive in the future.


# In 2003, the top one percent of Texans, with average incomes of $937,000, get
29.2 percent of the Bush tax cuts that go to Texans, with an average tax cut of
$54,958. By 2006, this group will get 35.7 percent of the tax cuts. (pdf)

# In contrast, the poorest sixty percent of Texas residents, with average incomes of
$21,000, collectively get only 14.9 percent of the Bush tax cuts in 2003.

Bush Still On Track To Borrow $10 Trillion in Ten Years (pdf)

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