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The Bush Record: Tax Cuts Help the Rich Get Richer
The Democratic National Committee

Bush's tax cuts have benefited the wealthy more than anybody else-while creating enormous budget deficits and forcing Bush to raid the Social Security Trust Fund. And while federal taxes have been reduced, state and local taxes have risen.

Tax Cuts Mostly Benefit the Wealthy

Over the Next Decade, More Than 50 Percent of Tax Cuts Will Go to the Very Richest Taxpayers. Taxpayers in the top 1 percent of income, whose annually earn more than $1 million, got tax cuts greater than $30,000 in 2003. By the end of the decade, more than half of the Bush Administration's tax reductions will go to the top 1 percent. [Citizens for Tax Justice, 1/8/03]

Bottom 60 Percent of Taxpayers Will Receive Only $350 in Tax Cuts Over Next 4 Years, Top 1 Percent Gets $96,634. The bottom 60 percent of taxpayers will receive, on average, a total of $350 over the next four years, or less than $100 per year. The wealthiest 1 percent of Americans will receive, on average, a total of $96,634 in tax cuts over the next four years. [Citizens for Tax Justice, 6/13/03]

Small Businesses Not Helped By Bush Plan. Bush claims that his tax plan helps small businesses. But the Treasury Department's broad definition of "small-businessman" includes both Bush and Vice President Cheney. And according to the Center for Budget and Policy Priorities, 52 percent of small business owners get $500 or less from the Bush tax plan. [Washington Post, 2/24/04; Center for Budget for Budget and Policy Priorities, 1/21/03]

Nearly 12 Million Children in Moderate Income Families Denied Child Tax Credit. The new Bush, GOP tax bill accelerates the phase-in of the $400 child tax credit increase passed as part of the 2001 tax cut. However, the bill leaves out 11.9 million children in moderate and low-income families who earn between $10,500 and $26,625 per year. The cost to expand the child tax credit to low and moderate-income families would have been $3.5 billion, a figure amounting to 1 percent of the total package. [New York Times, 5/29/03; CBPP Fact Sheet]

Elimination of Dividend Tax Doesn't Affect 75 Percent of Seniors. Contrary to his assertions, three-quarters of the elderly would get absolutely nothing from Bush's proposed dividend tax exemption-because only one in four seniors receives any money from taxable dividends. [Center for Tax Justice, 3/13/03]

The States Carry the Burden

State Taxes are Rising. Since the beginning of the Bush administration, 32 states have been forced to raise net taxes and fees by a total of $16.2 billion because of revenue shortfalls and reductions in federal support. [Center for Budget and Policy Priorities; Blueprint, Vol. 2003, No. 3]

States are Increasing College Tuitions, Cutting Other Programs. Tuition at 4-year public schools increased an average of 14% for the 2003-4 school year due to "shrinking state appropriations" caused by reduced federal support. Since 2002, states have also cut eligibility for health insurance, with 1.2 to 1.6 million low-income people (including 500,000 low-income children) losing health care coverage. [Center on Budget and Policy Priorities, 1/15/04; Associated Press, 8/25/03]

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