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Tax Cuts Make Tax Code More Progressive
From today's WSJ editorial, "The latest IRS data also show that the wealthiest Americans continue to carry a record share of the income tax load. As the chart above shows, the richest 1% paid 35.6% of all income taxes in 2004, the most recent year in which data are available. The top 10% pay a remarkable two-thirds of all income taxes. The irony is that the Bush tax cuts have made the U.S. income tax code more progressive. But according to John Edwards and other class warriors, that's not enough."
From today's WSJ editorial, "The latest IRS data also show that the wealthiest Americans continue to carry a record share of the income tax load. As the chart above shows, the richest 1% paid 35.6% of all income taxes in 2004, the most recent year in which data are available. The top 10% pay a remarkable two-thirds of all income taxes. The irony is that the Bush tax cuts have made the U.S. income tax code more progressive. But according to John Edwards and other class warriors, that's not enough."
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