Did Bush's progressive tax code benefit the rich, and if so, in what ways? thanks.

[secondwind]

[Enrique]

1. yes

it benefitted them by making them pay less money (a lot less).

[Hannah Bell]

2. first error: not "progressive". second: to the tune of $700 billion dollars over 10 years

for the top 1% alone.

[MannyGoldstein]

3. it cut taxes for the wealthiest americans by 25 percent

The rich pay mostly capital gains taxes. Capital gains taxes were caused by 25 percent, from 20 percent to 15 percent.

[napi21]

4. It enabled them to hoard MORE MONEY, but it also benefited

their heirs A LOT! PArt of that package eliminated the estate tax. Remember the Steinbrenner case.

[valerief]

5. Progressive tax code? In what fantasy world is it progressive? nt

[secondwind]

6. Thanks to all of you in the "Economy" forum! You guys rock!

[valerief]

7. I saw you in Latest. I mean, "Latest". Latest rocks! nt

[bemildred]

8. The current tax code is very regressive, and it's been that way since Raygun.

The FICA tax in particular is very regressive; but starting with Raygun they made other taxes more regressive or much less progressive, depending on how you choose to look at it, and that is why our economy is so hosed.