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Liberal Lies, CBO Truths: Kerry and the media are wildly distorting a non-partisan report on the Bush tax cuts
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| Contributor | Tony82 |
| Last Edited | Tony82 Aug 17, 2004 02:09pm |
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| Category | Commentary |
| News Date | Tuesday, August 17, 2004 06:00:00 AM UTC0:0 |
| Description | Have you seen all the headlines in the liberal press about the new report from the non-partisan Congressional Budget Office? Here are but three samples, listed proudly on John Kerry’s website:
“Tax Burden Shifts to the Middle” — Washington Post
“Budget Office Says Biggest Tax Cuts Go to Richest 1%” — Wall Street Journal
“Report Finds Tax Cuts Heavily Favor the Wealthy” — New York Times
And Kerry himself is touting the report on the campaign trail, claiming it proves that “Over the last four years, the burden of taxes has shifted from the wealthy to the middle class.”
Those are the liberal lies that completely distort the findings of the CBO report. Here’s the truth....
The report also shows that Bush's 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. Without the Bush tax cuts, the highest-earning 20 percent of households this year would have paid 78.4 percent of all federal income taxes. Now, after the Bush tax cutes, their share of the burden has risen to 82.1 percent. Every other quintile now pays a smaller share of the total income-tax burden....
This week I spoke with several senior staff members at the Congressional Budget Office. “Stunned” is how they feel about what the media has done with their report. “Frustrated" is how they feel about the media’s utter lack of willingness to let the report’s authors tell the story about what the report really says.
These CBO staffers have been in Washington for many, many years. You’d think they’d know how it works by now. But apparently they have never seen the media as rabidly partisan and as relentlessly ignorant as it is right now.
(Alternate Link: [Link] ) |
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