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Institute for Policy Studies: Five Reasons to Let the Bush Tax Cuts for the Rich Expire

Institute for Policy Studies: Five Reasons to Let the Bush Tax Cuts for the Rich Expire.

No comment necessary.

Here’s my favorite, though:

3. Restores Balance to Tax Code. Over the last half century, Congress has steadily reduced tax obligations for the very rich and global corporations. Between 1960 and 2004, the top 0.1 percent of U.S. taxpayers – the wealthiest one in one thousand – have seen the share of their income paid in total federal taxes drop from 60 to 33.6 percent. Restoring the tax rates to pre-2001 levels would be a very slight increase, yet begin the process of rebalancing the tax code.

-Chris

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September 16, 2010 - Posted by | Politics, Tax Debate

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