Bush Tax Cuts caused wealthiest to pay more

If you had told me this, I wouldn't have believed it. President Bush's tax cuts have lowered the tax burden on the nation's middle class and increased the taxes paid by the wealthiest Americans. Seriously.

A report from the nonpartisan Congressional Budget Office…shows that Bushs tax cuts have been progressive that is, they have shifted the share of the overall federal income tax burden toward the wealthy and away from lower-income earners….. The report also shows that Bush managed to craft a tax reduction package that even benefits the lowest-earning taxpayers who already pay what amount to negative income taxes. Thats right, thanks to various refundable tax credits, before the Bush tax cuts the lowest-earning 20 percent of income earners not only paid no income taxes on average they received money from the Internal Revenue Service.

What does all this mean? It means that President Bush was right – when you let people keep their money, they'll use it to increase their wealth. It is a conservative economic principle that has proved to be true every single time.

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