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Bush tax cuts benefited millionaires most Original Source Link: (May no longer be active)    http://www.dailyindia.com/show/101126.php/Study:-Bush-tax-cuts-benefited-rich-most http://www.dailyindia.com/show/101126.php/Study:-Bush-tax-cuts-benefited-rich-most 1/8/2007 Study: Bush tax cuts benefited rich most WASHINGTON, Jan. 8 (UPI) -- Millionaires saw their U.S. tax rates drop more sharply than any economic group under U.S. President George W. Bush's tax cuts, a congressional study says. At the same time, tax rates for middle-income earners rose in 2004, the most recent year for which data were available, the nonpartisan Congressional Budget Office study found. Middle-income families earning an average $56,200 in 2004 saw their average effective tax rate rise slightly to 2.9 percent in 2004 from 2003, but fall from 5 percent in 2000, translating to an average $1,180 tax cut. By contrast, the effective individual tax rates for the top 1 percent of U.S. families, earning an average $1.25 million a year, dropped to 19.6 percent in 2004 from 24.2 percent in 2000, or almost $58,000, the report said. While tax cuts for the rich were bigger than those for other groups, the wealthiest families generally paid a bigger share of total taxes, The New York Times reported. Copyright 2007 by United Press International

Affluent avoid scrutiny taxes American middle class are in danger { September 25 2007 } Billioniare says he pays less taxes than his secretary { June 28 2007 } Buffett bush tax plan unfair { May 5 2003 } Bush tax cut gives half million year to wealthy { April 5 2006 } Bush tax cuts benefited millionaires most Bush tax cuts raised taxes for middle class { April 9 2007 } Bush tax cuts shifted more burden to middle class Business favors gop 02 { November 27 2002 } Caribbean largest individual tax evasion in US history { April 18 2005 } Ceos getting millions dividends tax cut CEOs who outsource are paid better Clinton brags about qualifying for republican tax cuts Contracts awards post war iraq Cuts favor wealhty Death tax not big problem for farmers { July 10 2005 } Documentary shows growing wealth gap { February 21 2008 } Documented top 20 richest for 2005 Economy benefiting upper class { July 10 2006 } Election money { November 1 2002 } Exxonmobile ceo gets big bonus as profits soar Fannie mae manipulated earnings for ceo bonuses { October 15 2004 } Goldman sachs pays ceo record 40m Gop taxcuts favoring wealthy { May 3 2003 } Hard working americans stuck tax bill Huey long filibisters bills favoring rich Huffington paid little income tax { August 14 2003 } Income gap between rich and very rich increasing { November 27 2006 } Income gap steadily increased past 20 years { August 17 2004 } Instructive book forgives super elites { May 8 2008 } IRS audits may not catch wealthy cheats { September 2 2006 } Irs has become subsidy system for super wealthy americans { April 11 2004 } IRS jobs auditing wealthy americans cut { July 23 2006 } Irs toughens on wealthy tax cheats Lucky CEOs mistakenly competent get big payoff { June 12 2008 } Mega mansions built despite housing crisis { June 12 2008 } Reagan and bush pushed amt to middle class { March 4 2007 } Rep sanders taxes Richest 1perc earns 20 perc of all income { September 2007 } Richest are leaving even the rich far behind { June 5 2005 } Spending of the rich increases and poor decreases Super elites hideout remodels forest { May 18 2008 } Super rich { December 27 2002 } Tax breaks top one percent Tax burden shifts to the middle { August 13 2004 } Tax cheating continues says panel { October 20 2003 } Tax cut for rich { January 7 2003 } Tax cut helps cheney Tax cuts for the rich healthcare shaft for poor { May 24 2003 } Tax cuts for the wealthy dont stimulate jobs { July 7 2005 } Tax cuts to rich dont help economy { January 22 2008 } Tax law omits child credit { May 29 2003 } Thousands who earn over 200k avoid income tax Top earners pay no taxes { June 26 2003 } Top executives earnings increase 2005 { July 10 2006 } Tuition costs rise Wealthiest 20 percent get big breaks { August 17 2004 } Wealthy class is winning says buffett { March 7 2004 } World elites getting richer { August 26 2005 } Worlds poorest 50 percent own 1 percent wealth { December 5 2006 } Files Listed: 60

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