What Did Bush Give to You?
We all know that the Bush income-tax cuts were a boom to the richest Americans. But did you know that an executive making $1 million gets an annual tax savings of $63,211 -- more than the pretax salaries of three Wal-Mart associates combined?
Here, the Bush income-tax cuts represented as an hourly take-home raise, across the income spectrum:
Annual Income: $10,000
Take Home 'raise': 5¢/hr
What do you get? ($8) medium Domino's pizza
Annual Income: $20,000
Take Home 'raise': 21¢/hr
What do you get? ($36) basic cable bill
Annual Income: $35,000
Take Home 'raise': 43¢/hr
What do you get? ($71) two Pampers Baby-Dry value packs
Annual Income: $55,000
Take Home 'raise': 74¢/hr
What do you get? ($123) car insurance on '99 Accord
Annual Income: $100,000
Take Home 'raise': $1.73/hr
What do you get? ($289) iPod mini + 40 iTunes
Annual Income: $200,000
Take Home 'raise': $3.72/hr
What do you get? ($620) pair of Manolo Blahnik Sedara d'Orsay pumps
Annual Income: $1,000,000
Take Home 'raise' $31.61/hr
What do you ge? ($5,268) 12-day cruise for two on the Queen Mary
Citation: What Did Bush Give to You?: “Average Tax Cuts under the 2001-03 Bush Tax Cuts by Calendar Year,” Citizens for Tax Justice; “Tax Model,” Institute on Taxation and Economic Policy, June 2003
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