Most Americans Favor Tax Increases On Wealthy

[MTAtech]

Originally Posted by pghquest

The tax cuts went more to those in the lower income levels, not the wealthy. The lower income levels started getting REFUNDS. The wealth didnt

Yea, the bottom got a few hundred dollar refund and the millionaires got an average $70,000 reduction.



According to Slate.com:

Low-income families benefited from the child-care credit jumping from $500 to $1,000. High-income families benefited from the top marginal rate falling. Billionaires benefited from lightly taxed dividend income.

But the benefits mostly accrued to the rich, according to the nonpartisan Tax Policy Center. The think tank reports that between 2001 and 2008, the bottom 80 percent of filers received about 35 percent of the cuts. The top 20 percent received about 65 percent—and the top 1 percent alone claimed 38 percent.

[Konraden]

Originally Posted by MTAtech

Yea, the bottom got a few hundred dollar refund and the millionaires got an average $70,000 reduction.



According to Slate.com:

Strange, those cuts are roughly on par with accumulated financial wealth in the country. We don't tax wealth, but apparently, we give tax refunds based on it!