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The Bush Tax Cut
J. Bradford DeLong
Who Benefits from the Bush Tax Cut?
Source: Citizens for Tax Justice http://www.ctj.org/.
- Looking just at married couples filing jointly, the top 1% of those who file tax returns receives about three-tenths of the money from the proposed Bush tax cut--about $44,000 per couple.
- The middle fifth of married couples filing jointly receives about a seventh of the money--an average of about $1,030 per couple. Their tax cut is 1.9% of their $50,000 a year average income.
- Most of the lowest fifth of married couples filing jointly receive no tax cut at all. Their average income is $18,500. And tax cuts do not even begin until your income is about $25,000 a year. The average tax cut received by this group of Americans is about $115 per couple.
- The rich receive about twice as large a proportion of the tax cut money as is their share of taxes.
- The rich receive about three times as large a proportion of the tax cut as is their share of income.
Professor of Economics J. Bradford DeLong, 601 Evans Hall, #3880
University of California at Berkeley
Berkeley, CA 94720-3880
(510) 643-4027 phone (510) 642-6615 fax
This document: http://www.j-bradford-delong.net/TotW/g19.html