About 1.5% of American households earn more than $250,000 a year. That's the group which has benefited most from the Bush tax cuts - and they make an average of $434,757 a year. Not too shabby. Late last week, the White House released information on President Bush's and Vice President Cheney's 2006 income and taxes.
Guess what? They make more than $250,000 a year, and fall into the group of about 2 million American households that benefits from the administration's "tax cuts for the rich" policies. According to the White House release, Bush paid $186,378 on $765,801 in income, and Cheney paid $413,326 on about $1.6 million in income. That's about 24% and 26%, respectively, of their income going to federal taxes. I don't know about you, but people who make well over $250,000 a year should be paying a helluva lot more in federal taxes. Epecially these two, who have overseen the largest increase in federal debt this country has ever seen.
Paying your share of taxes is patriotic. Step up to the plate, Mr. President.