Bush fails to get deserved credit for tax cut benefits

Detroit News ^ | Friday, August 27, 2004 | Donald Luskin

[visagoth]

Since we can't post text material directly from the Detroit News story which says:

A report from the nonpartisan Congressional Budget Office has Democratic presidential candidate John Kerry claiming it proves that “Over the last four years, the burden of taxes has shifted from the wealthy to the middle class.”

Those are politically motivated lies that distort the findings of the report. Here’s the truth:

The report proves that what President Bush said about his tax cuts is true: “Tax relief is for everyone who pays income taxes.”

-- here's a link to Instapundit, with a great graphic to explain taxes to the economic illiterate:

http://instapundit.com/archives/017441.php

[AgThorn]

Some extraction of this article - important piece!

A report from the nonpartisan Congressional Budget Office has Democratic presidential candidate John Kerry claiming it proves that “Over the last four years, the burden of taxes has shifted from the wealthy to the middle class.”

Those are politically motivated lies that distort the findings of the report. Here’s the truth.

The report proves that what President Bush said about his tax cuts is true: “Tax relief is for everyone who pays income taxes.”

It’s true for the rich, and it’s true for the not-so-rich. Across 109.4 million tax-paying households — from the wealthiest 1 percent with incomes averaging over $1 million to the lowest-earning 20 percent of people with incomes averaging $14,900 — the report shows that all income classes have seen their income tax rates lowered thanks to Bush’s cuts in 2001, 2002 and 2003.

also here's actual direct link for news article. Great find!!

[AgThorn]

sorry, missed your 'direct link' given in piece ... this article is a keeper .. thanks again for posting!!

[Sacajaweau]

I'm warching Hillary. She's reading off something. Watch her eyes.

[yoswif]

Dear Mr. Kerry

How will trickle down tax increases for powerful and privileged Washington D.C. elites help average Americans find good paying private sector jobs?

[pittsburgh gop guy]

THIS IS AN AWESOME ARTICLE - and shoots a huge hole in the Kerry/RAT line that the tax cuts favored the rich. Of course, to them, anyone that makes over $20k a year is "rich."

[James Mabry]

Thanks for the post. I just saw this linked at instapundit and was gonna post it if I didn't see it here already.

Good article. I'm a flat tax, or at least fewer tiers, guy myself. But, that battle's another day's work....

[John Galt's cousin]

Still haven't seen this reported by the MSM.

bttt

[Tern]

Here's a blog entry on the Luskin article:

A report from the nonpartisan Congressional Budget Office

shows that Bush’s tax cuts have been "progressive" — that is, they have shifted the share of the overall federal income tax burden toward the wealthy and away from lower-income earners.

To be specific, the bottom three quintiles in terms of income each pay a lower portion of the total income tax burden under the Bush law than they did previously. The top two quintiles each pay a higher portion of the total income tax burden under the Bush law. And for the record, the top decile, the top 5% and the top 1% each pay a higher portion of the income tax pie under the Bush law.

You wouldn't know it if you get your news from network TV or the New York Times. Donald Luskin has the story on the Detroit News editorial page.

Read the article and check out this chart:

(Hat tip: Polipundit.)

[Feiny]

Bumpin for my own notes