Income tax cuts benefit all players
Posted 10/2/2006 2:58 AM ET E-mail | Save | Print | Reprints & Permissions | Subscribe to stories like this Subscribe to stories like this
By Kevin McCoy, USA TODAY
Americans of every income have benefited from a drop in federal income tax rates as Bush administration tax cuts enacted since 2000 took effect, an independent analysis of newly released IRS data shows.
But those earning $75,000 to $500,000 are shouldering a larger share of total taxes paid as millions more of them earn higher incomes and get hit with the Alternative Minimum Tax, the analysis also found.
The review by the Tax Foundation, a non-partisan research group that favors low taxes, provides one of the first detailed looks at the impact of federal tax changes phased in between 2000 and 2004.
Now if someone could explain this to the people that still are upset about the 'rich' tax cuts, we'll all feel better.
Reason amongst the dhimmikrauts