Wednesday, April 13, 2011

Tax Rate Cuts vs. Share of Tax Burden

Prior to Bush's income tax cuts, the top 20% paid 78% of the income taxes and the bottom 40% paid 2.8%.
After the cuts, it was 81% and 2.2%.
That is probably news to a lot of folks, and it goes along with what I calculated about whether or not tax cuts pay for themselves (see here for more info).

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