Why does BUsh say he gave us a tax cut if it's only for the richest of Americans (upper 1%)?

Question

what a G**D*** lair.

Answer 1

Here is the breakdown of how tax cuts have affected income groups up to this year. Percentages represent the share of the cuts based on income level:
Lowest 20%: 1.10%
Second 20%: 6.30%
Middle 20%: 10.50%
Fourth 20%: 16.30%
Next 15%: 18.50%
Next 4%: 6.90%
Top 1%: 40.30%
(for reference, the "Fourth 20%" earns about 70,000 per year, and the "Next 4%" earns about $250,000).

It's not correct to say that the top 1% got the only breaks, but they got the vast majority of the breaks. Why is this? It's Reaganomics on steroids. Never mind that Reaganomics didn't work in the first place. Bush took Trickle-Down economic theory and dropped all pretense of it being based on actual theory. It's really the only thing he's done to placate fiscal conservatives in his party.

Answer 2

In the last seven years, (more or less), I have seen my tax burden decrease significantly. I never realized I was in the top 1% in terms of richest americans. The most I have ever made in one year, (last year) was just under $40,000.

We have had a tax cut under President Bush for several years, but if this makes you unhappy, vote for Hillary. She has already said she WILL remove the Bush taxcuts.

Answer 3

Becasue in hs eyes, by giving the cuts to upper 1% it triclkles down to you and me.. Sorry, that has not happened in my part of the world.

Answer 4

Taxes did go lower under Bush - child tax credit, lower capital gains taxes, and income taxes. Check your tax liability from your 1999 tax return and compare it to more recent years. It is substantially lower. Get the facts before you opinionate.

Answer 5

Child tax credits went up regardless of how much you make. Everyone I know got retro active refund checks shortly after tax cuts went into effect. Did you forget cashing your check?

Answer 6

Watching keith olbermann again?

Answer 7

He lied!

Answer 8

Because he owed them, they put him where he is.