Monday, September 20, 2010

Graphic Illustration of the Bush Tax Cuts

The NY Times has an excellent graphic on the Bush tax cuts that shows just how much people have saved from the Bush tax cuts at the various income levels and the effect of their expiration.

If you are in the top 0.1% of the population, your average annual income is $7.7 million and your taxes will be going up by 6.9%. That explains where there is so much media manipulation and political posturing over the "need" to extend the Bush tax cuts. People in this tax bracket have pocketed a gift of $2,326,607 since 2004 from this gift by Bush to the richest Americans. And they don't want the gift giving to stop!

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