April 06, 2006

Keeping tabs on the class war.

I was thinking about summarizing a NY Times article about the first major study of the effects of Dubya's tax cut on investment income, which shows that the bulk of the benefits have not just gone to the rich — they've gone to the very rich. Like an average US$ 500,000 tax reduction for people who make US$ 10 million and over.

But instead of summarizing, I'm going to give you one paragraph from the story and let you read the rest of the article for yourself. Here's the paragraph:

The Times showed the new numbers to people on various sides of the debate over tax cuts. Stephen J. Entin, president of the Institute for Research on the Economics of Taxation, a Washington organization, and other supporters of the cuts said they did not go far enough because the more money the wealthiest had to invest, the more would go to investments that produce jobs. For investment income, Mr. Entin said, "the proper tax rate would be zero." [Emphasis added]

As they say, the rich aren't like the rest of us. Nope, they're far more arrogant.

Posted by Magpie at April 6, 2006 01:57 PM | US Politics | Technorati links |