Over the Last Nine Years, Bush Tax Cuts Have Delivered $1 Million in Tax Breaks to the Average Millionaire | NationofChange

Over the Last Nine Years, Bush Tax Cuts Have Delivered $1 Million in Tax Breaks to the Average Millionaire | NationofChange:

click link

snip

House Republicans this week plan to vote on a bill that would extend all of the Bush tax cuts, including those on income in excess of $250,000. A new analysis shows that the Republican plan will raise taxes on roughly 24 million people — due to its allowing various credits, including the Child Tax Credit, to expire — while maintaining Bush’s tax cut for two million wealthy Americans.

The Bush tax cuts delivered the weakest job growth of the post-war period, as well as a ballooning federal debt. And according to a new report from the Center for Budget and Policy Priorities, the price tag of that weak growth was more than $1 million in tax breaks for the average millionaire over the last nine years:

– If one adds up the average tax cuts that households with incomes between $200,000 and $500,000 received in each of the last nine years, the total exceeds $74,000.