WASHINGTON - President Bush (news - web sites)'s tax cuts since 2001 have shifted more of the tax burden from the nation's rich to middle-class families, according to a study released Friday by the Congressional Budget Office (news - web sites).
The tax rate declined across all income levels — but more so in the top brackets, the report said.
People in the top 20 percent of incomes, averaging $182,700 a year, saw their share of federal taxes decline from 65.3 percent of total payments in 2001 to 63.5 percent this year, according to the study by congressional budget analysts.
In contrast, middle-class taxpayers — with incomes ranging from $51,500 to $75,600 — bear a greater tax burden. Those making an average of $75,600 had the biggest jump in their share of taxes, from 18.5 percent of all payments in 2001 to 19.5 percent this year.
The study, requested by congressional Democrats in May, is expected to provide fodder for the presidential campaign over the fairness of more than $1 trillion in tax cuts Bush has pushed through Congress since taking office.
"George W. Bush keeps trying to mislead Americans into thinking we're turning the corner, but truth is that he is turning his back on middle-class families," Kerry spokesman Phil Singer said. "The Bush policies are exacerbating the squeeze that working families have been feeling for the last four years."
More inconsistency. Tax rates on the middle class drop during the Bush administration but democrats want you to think that his tax policy is putting the "squeeze" on working families. Doh!
Which would the typical middle class taxpayer prefer:
a) pay less in taxes (but realize that the middle class as a group is accountable for a larger share of total tax revenues), or
b) pay more taxes (but realize that the middle class as a group is accountable for the same share of total tax revenues as under the Clinton administration).
I'm betting that most people would pick option (a). I know I do.
As njbil said, this is nothing but liberal propaganda. The bottom line in this article is that taxes were reduced for everyone. The rest is just misleading spin intended to stoke class warfare emotions.