Steve GannSo Much For Tax Cuts For The Rich
December 8th 2009 23:07
The Tax Foundation has just released new data from the 2007 tax year. It shows that the rich are paying more and that over 48 million returns paid no income tax.
Some interesting stats from the study.
The top 1% paid 40% while the bottom 95% paid 39% of all taxes.
The share of people paying zero taxes went up after the Bush tax cuts while the rich paid a bigger share.
I guess you could say that the Bush tax cuts benefited the poor and middle class more than the rich.
I bet this will be the lead story on every newscast tonight.
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