Check out this chart at TaxProf Blog from the Joint Economic Committee. It demonstrates once and for all that the Bush tax cuts have been among the most progressive in history. That means the rich pay a higher percentage of taxes today than before the tax cuts.
So, what does that make Democrats who always claim the exact opposite, that Bush’s tax cuts were “for the rich”?
If these people had an intellectually honest bone in their bodies, they would come out and say “this is the exact kind of tax cut we like, the richest among us pay a higher percentage and the poor pay an increasingly smaller amount.”
This will never happen. “Tax cuts for the rich” is a sacrament of the Democrat party, facts and evidence be damned.
And get a load of this ridiculous, over the top “tax cuts for the rich” media spin from Good Morning America. What a bunch of clowns.
To summarize, what have we learned about taxes this week…
1. As a result of the Bush tax cut, the rich pay more taxes than ever, exactly how the liberals think it should be.
2. When you cut taxes, more money comes into the Treasury.
April surplus largest since ’01 as growth boosts tax proceeds
Bloomberg News
Published May 11, 2006
WASHINGTON — The federal government’s April budget surplus rose to $118.9 billion, the largest for any month since 2001, as the fastest economic growth in more than two years buoyed tax revenue.
The surplus compares with $57.7 billion in the same month a year earlier. April is typically a surplus month because of the tax deadline for individuals. It’s the second year in a row that tax receipts have exceeded government and private forecasts.
“Government tax receipts have moved into overdrive,” said Chris Rupkey, senior financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. “This is a sign the expansion is solid.”
The sad thing is, despite evidence to the contrary, the debate over taxes will not change.