President Bush today crowed over the "success" of having given the wealthy a pass on financing his rapidly growing national debt.
"Cutting your taxes worked," Bush said. "Unfortunately, the Democrats are still determined to raise your taxes, and if they gain control of the Congress, they can do so without lifting a finger."
Bush said taxes are a huge issue in the Nov. 7 election. He said the tax cuts orchestrated by his administration have left more money in the hands of workers, families and small businesses — money they have used to sustain a bustling economy.
Actually, the vast bulk of the GOP's tax cuts went to the GOP's "base": the millionaires and billionaires. Workers, families and small businesses got the crumbs of the tax relief cake ... if anything.
Tax Cuts for "the haves and the have mores"
When President Bush goats, "You're my base: the haves and the have mores," when talking to a roomfull of the wealthiest people in America — the Republicans' fundraising base — it's should be no surprise to anyone but the news media that average folks like you and me have not seen much upside from tax relief for the Donald Trumps and Paris Hiltons of the world.
Bush Tax Cuts Favor Wealthy:
People in the top 20 percent of incomes, averaging $182,700 a year, saw their share of federal taxes decline from 65.3 percent of total payments in 2001 to 63.5 percent this year, according to the study by congressional budget analysts.