The Winter 2007 issue of the Tax Foundation’s quarterly tax policy newsletter TAX WATCH, which summarizes the Foundation’s policy work in a simple, attractive format, is now available online.
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Of special interest is the article “Which Americans Benefited from the 2001 and 2003 Tax Relief?” According to Foundation President Scott Hodge, “While it’s true that the wealthy wave a higher dollar amount from any across-the-board tax cut because they pay more in taxes, the latest IRS data show that effective tax rates have fallen for every income group recently.”
Quoting from its study “New IRS Data Show All Income Groups Have Seen Tax Liabilities Fall Since 2000”, the article reports that “the percentage decrease in tax burden was greatest for those in the lowest income groups between 2000 and 2004.”
A taxpayer with an Adjusted Gross Income (AGI) or $35,000 saw a 40% decrease in tax burden. The tax burden of an individual earning $1.75 Million decreased by only 14.8%.
You can download a copy of TAX WATCH in “pdf” format at the Tax Foundation website. Click on “Click here to read the full issue”.
Quoting from its study “New IRS Data Show All Income Groups Have Seen Tax Liabilities Fall Since 2000”, the article reports that “the percentage decrease in tax burden was greatest for those in the lowest income groups between 2000 and 2004.”
A taxpayer with an Adjusted Gross Income (AGI) or $35,000 saw a 40% decrease in tax burden. The tax burden of an individual earning $1.75 Million decreased by only 14.8%.
You can download a copy of TAX WATCH in “pdf” format at the Tax Foundation website. Click on “Click here to read the full issue”.
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