85% of Bush Tax Cuts Went to Middle Class, Not the Rich

Jim Hoft

Don’t expect to see this make any headlines in the state-run media…

Back in April of this year Barack Obama told the press that he “refused to extend the Bush tax cuts to the wealthy again.”

But, he’s not a socialist.

Of course, it was just another lie.
Verum Serum found the actual tax cut breakdown at CNN Money:

Bush tax cuts: $544.3 billion…The bulk of that cost — $463 billion — is for the extension of cuts for families making less than $250,000, including two years of relief for 2010 and 2011 for the middle class from the Alternative Minimum Tax.

The rest — $81.5 billion — is attributable to the extension of cuts that apply to the highest income families.

In other words, 85% of the tax cuts went to the middle class.
But, Obama didn’t care. He needed a talking point.

Flopping Aces has more on the selfish rich people keeping Obama down.

Related: Peter Schiff on Fox Business : Debt Markets are Being Destabilized by Obama

Comments are closed.