As promised, here is the data that shows how Bush's tax cuts (supposedly for the rich) actually affected rich people. I'm going to break the data down into two sections.
Richest 1% of the population:
In 1990, the top 1% made 14% of the country's income. They paid 25% of the country's taxes.
In 2000, at the end of Bill Clinton's term, the top 1% made 21% of the country's income. They paid 37% of the country's taxes.
In 2007, after Bush's "tax cuts for the rich" were implemented, the top 1% made 21% of the country's income. They paid 39% of the country's taxes.
So, the tax cuts obviously haven't helped the richest 1% of the population. They're making the same amount of income as they were making when Bill Clinton was president, but now they're paying a little more taxes.
Richest 5% of the population:
In 1990, the top 5% made 27% of the country's income. They paid 44% of the country's taxes.
In 2000, the top 5% made 35% of the country's income. They paid 56% of the country's taxes.
In 2007, the top 5% made 36% of the country's income. They paid 60% of the country's taxes.
And so the trend continues. With the "help" of President Bush, the richest 5% make 1% more of the income, but pay 4% more of the taxes. The data actually seems to suggest that Bush's "tax cuts for the rich" aren't helping the rich all that much.
If you doubt the figures I just posted, all of the data is available at the Bureau of Economic Analysis (
www.bea.gov), so feel free to have a look yourself.
Hey Blay, next time you want to start saying I'm the one buying into all of this political bullshit, you might want to make sure you know what the fuck you're talking about first. Thanks buddy!