Jan 9, 2007

How have the "very rich" fared under Bush?

Bush’s tax cuts have never really been about “the top one percent.” His tax cuts have mainly been aimed at those who are truly the “very rich”—at those in the top one-tenth of one percent, let us say. How have these people—the top one-thousandth—fared under Bush’s tax cuts? There’s no way to tell from this CBO study, and no way to tell from Andrews’ report. But Andrews writes as if “the top one percent” is the richest group he can imagine. Quick note: If we did see a report on how “families earning more than $1 million a year” have fared, the numbers would be eye-popping. We’ll guess: They’ve done far better than those found near the bottom of the top one percent.
Note: Among households at the top of the top one percent, you’ll find the owners of the Post and the Times. Ditto such Nantucket grandees as Buffalo’s Tim Russert. http://www.dailyhowler.com./dh010807.shtml
Oh my! Ya think we broke em?

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