Economic Report: Guess Who Benefits The Most From Tax Cuts? It ain't Workers

[Omaha Steve]

http://www.laborradio.org/node/5029

Economic Report: Guess Who Benefits The Most From Tax Cuts? It ain't Workers - 01/10/07

Economic Report:

By Jesse Russell

Who benefits the most from tax cuts? A new congressional study says the very rich. Rates for those earning more than one million dollars dropped as a result of the Bush administration tax cuts while middle class Americans saw a bump up. But the top one percent still paid the largest percentage of overall income taxes, picking up 36.7 percent of the tab. Meanwhile the top 20 percent paid 67.1 percent while the bottom 40 percent paid almost none or received money back.

[area51]

1. kick (n/t)