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BUSH MISLEADS ON TAX CUTS

At Thursday's debate President Bush said most of his tax cuts "went to
low- and middle-income Americans."[1] That statement is flatly false.

An analysis by the Center on Budget and Policy Priorities found that,
in 2004, the top 20 percent of earners received 69.8% of the tax cuts
enacted by President Bush.[2] While the middle 20 percent of earners
received an average tax cut of $647, the top 20 percent received an average
tax cut of $5,055.[3] As a result, those in the middle class are paying
a greater share of the federal taxes today than they were four years
ago.[4]

Sources:

1. "Transcript of Debate Between Bush and Kerry, With Domestic Policy
the Topic," New York Times, 10/13/04,
http://daily.misleader.org/ctt.asp?u=3037967&l=62975.
2. "Tax Returns: A Comprehensive Assessment of the Bush Administration
Tax Cuts," Center on Budget and Policy Priorities, 04/04,
http://daily.misleader.org/ctt.asp?u=3037967&l=62976.
3. Ibid, http://daily.misleader.org/ctt.asp?u=3037967&l=62976.
4. "Tax Cuts Go Mostly to the Rich," OMB Watch, 2004,
http://daily.misleader.org/ctt.asp?u=3037967&l=62977.

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