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Bush fails to get deserved credit for tax cut benefits
Detroit News ^ | Friday, August 27, 2004 | Donald Luskin

Posted on 08/29/2004 7:43:11 AM PDT by 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



TOPICS: Front Page News; Government; News/Current Events; US: Michigan
KEYWORDS: bush; cuts; tax; taxcuts; taxes

1 posted on 08/29/2004 7:43:12 AM PDT by visagoth
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To: visagoth
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!!

2 posted on 08/29/2004 7:52:20 AM PDT by AgThorn (Go go Bush!! But don't turn your back on America with "immigrant amnesty")
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To: visagoth

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


3 posted on 08/29/2004 7:53:39 AM PDT by AgThorn (Go go Bush!! But don't turn your back on America with "immigrant amnesty")
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To: AgThorn

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


4 posted on 08/29/2004 8:01:03 AM PDT by Sacajaweau (God Bless Our Troops!!)
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To: visagoth

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?


5 posted on 08/29/2004 9:41:48 AM PDT by yoswif
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To: visagoth

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."


6 posted on 08/29/2004 11:42:07 AM PDT by pittsburgh gop guy
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To: visagoth
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....

7 posted on 08/29/2004 7:45:04 PM PDT by James Mabry (Buy guns & books & guns & books & guns & books -- For Your Kids.)
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To: visagoth

Still haven't seen this reported by the MSM.

bttt


8 posted on 08/30/2004 2:16:34 PM PDT by John Galt's cousin
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To: visagoth
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.)

9 posted on 08/31/2004 7:02:34 AM PDT by Tern
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To: Tern

Bumpin for my own notes


10 posted on 09/10/2004 6:44:55 PM PDT by Feiny (Rather couldn't hit water if he fell out of a boat.)
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