Tuesday, May 16, 2006

Don't spend all $20 in one place



-By Mike Keefe of the Denver Post.

The Center on Budget and Policy Priorities has some statistics on the tax cuts that are being considered in Congress right now. The middle 20 percent on the income class scale will get about $20. Of course the amount the tax cut will add to our national debt will cost them far more than $20 so perhaps we shouldn't spend it at all. Some folks don't get anything:
the three-quarters of households with incomes below $75,000 would receive just 5 percent of the benefits. The 60 percent of households with incomes below $50,000 would receive less than 2 percent of all benefits. In total, 68 percent of all households would receive no benefits whatsoever from the tax-cut package.
You can find the rest of the report here.

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