Middle Class Tax Cut is a Myth

"The ["middle-class" tax-cut legislation that the House and Senate approved September 22] is not the middle-class package it is portrayed as being. . . . Data from the Urban Institute-Brookings Institution Tax Policy Center show that the families in the middle of the income scale � those in the middle 20 percent of the income distribution � will receive an average tax cut of $162 in 2005 from this legislation. By contrast, those in the top fifth will get an average tax cut of $1,317, and those in the $200,000 - $500,000 income range will get an average tax cut of $2,390. More than two-thirds of the tax cut � 70 percent of it � will go to those in the top fifth. Some 47 percent of the tax cut will go to those in the top tenth of the income spectrum. But families in the middle 20 percent of the income scale will get only 9 percent of the bill's tax cuts." ("New "Middle-Class" Tax-Cut Represents Cynical Policymaking," Robert Greenstein, Center on Budget and Policy Priorities, Sept. 24, 2004) more here:

Now you didn't think you were going to get a real tax cut, did you?? Hell, my first tax cut cost me $60 more per week. This charade reminds me of the one that recently deceased ex-pres, Reagan, handed out in the '80's, right before he crashed the economy in '86.

Good news, though, change is on the way.