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Tax cut helps cheney Original Source Link: (May no longer be active)    http://story.news.yahoo.com/news?tmpl=story&u=/nm/20030107/pl_nm/economy_bush_taxes_dc_1 http://story.news.yahoo.com/news?tmpl=story&u=/nm/20030107/pl_nm/economy_bush_taxes_dc_1 Bush, Cheney Would Get Tax-Cut Windfall Tue Jan 7, 6:16 PM ET Add Politics to My Yahoo! WASHINGTON (Reuters) - President Bush (news - web sites) and Vice President Dick Cheney (news - web sites) each stand to reap thousands of dollars in savings from Bush's proposal on Tuesday to eliminate taxes on stock dividends. Based on income reported in his tax returns for 2001, Bush would have saved $16,511 on dividend payments of $43,805 if his new proposal had been in effect for the year. Cheney, who had dividends of $278,103 in 2001, would have saved $104,823. The estimated savings were derived by using a tax-savings calculator on the Internet site of the Heritage Foundation think-tank (www.heritage.org). Bush on Tuesday proposed eliminating the tax on stock dividends as part of a $674 billion proposal he says is aimed at boosting a lukewarm economy. Democrats have attacked the plan, which is almost all tax cuts, as a giveaway to the rich. The White House says 92 million Americans would gain an average tax cut this year of $1,083 through Bush's proposals, which would also accelerate previously scheduled income tax cuts and boost the child tax credit. Cheney is to take a turn at pitching the plan in a speech to the U.S. Chamber of Commerce (news - web sites) on Friday. Bush deflected a question on Monday about how he would personally benefit from the dividend-tax cut. "My money is in a blind trust ... so I don't know if I've got any dividends," he told reporters. Bush and Cheney also benefited handsomely from the $1.35 trillion tax cut passed by Congress in 2001. Cheney saved an estimated $43,000 on a tax bill of $1.72 million that year, and Bush saved an estimated $7,205.

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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