Wednesday, January 08, 2003

BuzzFlash led with this today, but in case you missed it, this is from Forbes:

Bush, Cheney would get tax-cut windfall

U.S. President George W. Bush and Vice President Dick Cheney each stand to reap thousands of dollars in savings from Bush's proposal on Tuesday to eliminate taxes on stock dividends.

Based on income reported in his tax returns for 2001, Bush would have saved $16,511 on dividend payments of $43,805 if his new proposal had been in effect for the year.

Cheney, who had dividends of $278,103 in 2001, would have saved $104,823.

The estimated savings were derived by using a tax-savings calculator on the Internet site of the Heritage Foundation think-tank (www.heritage.org)....


Forbes also has this:

Tax cut just $60 for many in Bush plan - analysts

Taxpayers earning $30,000 or less a year would get an average annual tax cut of just $60 from the Bush economic plan unveiled on Tuesday, while those making more than $200,000 would get a tax break of more than $12,000, according to analysts.

"There's no question it's weighted toward the wealthy," said Max Sawicky, senior economist with the Economic Policy Institute, a liberal Washington-based think tank....


Nothing surprising here, of course -- pretty much what we expected, right?

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