The New York Times > Washington > Campaign 2004 > Report Finds Tax Cuts Heavily Favor the Wealthy

The New York Times > Washington > Campaign 2004 > Report Finds Tax Cuts Heavily Favor the Wealthy: "Fully one-third of President Bush's tax cuts in the last three years have gone to people with the top 1 percent of income, who have earned an average of $1.2 million annually, according to a report by the nonpartisan Congressional Budget Office to be published Friday.
The report calculated that households with incomes in that top 1 percent were receiving an average tax cut of $78,460 this year, while households in the middle 20 percent of earnings - averaging about $57,000 a year - were getting an average cut of only $1,090."