CTJ Analyzes Bush, Cheney Tax Returns

I previously blogged the release of President Bush's and Vice-President Cheney's 2006 tax returns. Citizens for Tax Justice has released an analysis of the returns, which computes the tax savings achieved by both men as a result of the Bush tax cuts:

President George W. Bush and his wife Laura received a $31,037 income tax reduction for 2006 due to the President’s tax cut program. Vice-president Dick Cheney and his wife Lynne, whose income was much higher, saved $110,932.

• For 2006, the Bushes reported total income of $765,801 and paid 24.4% of that in income taxes. That was down by 14% from the 28.4% they would have owed without the President’s tax cuts.
• The Cheneys reported $1.8 million in total income, and paid a 23.4% effective tax rate. That was 21% below the 29.5% rate they would have paid without the Bush tax cuts.