The great DU debate, in a nutshell

[hfojvt]

10. ooh, a PhD in politics

I have an MA in economics, but really basic math shows that the payroll tax cuts are for the rich.

Just in case you might understand that, here's the breakdown (on page 3) http://www.ctj.org/pdf/taxcompromise2010.pdf

14.1% of the payroll tax cut goes for to the richest 5%
only 12.1% goes to the poorest 40%.

26.7% goes to the richest 10%
only 27.1% goes to the poorest 60%

Yeah, sure, progressive tax cuts. Sure, Obama started with a making work pay tax credit that gave only 51% of its benefits to the top 40% and 28.9% of its benefits to the bottom 40%. But then he abandoned that, shifting to the right with a tax cut twice as large and which gave 73% of its (larger) benefits to the top 40% and only 12.1% to the bottom 40%.

You know what Bush said about HIS tax cuts? (You know, the ones that Obama decided to keep for four years). He also claimed it was progressive "I think when people take a good, hard look at the rate reduction and who benefits and the fact that our plan erases inequities in the tax code, or eases inequities in the tax code; and that the biggest -- the bottom end of the economic ladder receives the biggest percentage cuts, people will come to realize it. "