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Friday, July 30, 2010

Colbert on the Expiration of the Bush Tax Cuts

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Comments

The Bush tax cuts were only for the top 3% of earners?

Most of the audience probably thinks that is true.

I actually think that program is funny most of the time, but lying isn't so funny.

Posted by: forest | Jul 30, 2010 5:48:00 AM

forest: I am glad someone else found that to be as ridiculous as I did. Sadly, most of the viewers will simply assume that what he is saying is true.

Posted by: dtc | Jul 30, 2010 9:13:35 AM

The top 3% is an exaggeration, but the Bush tax cuts did benefit those at the top disproportionately. The rest of us just got crumbs, comparatively speaking.

http://www.nytimes.com/2007/01/08/washington/08tax.html

Several of my millionaire clients with 6 figure incomes paid exactly zero tax the past two years thanks to the zero % rate on dividends in 08, 09 & 10.

Posted by: Joe | Jul 30, 2010 11:46:39 AM

Obama promised to extend tax cuts for less affluent. That's not what has GOP energized.

I'm pretty sure its all or nothing, though with the GOP this year; Extend the Bush tax cuts for the well-to-do, or for nobody.

Posted by: jimharper | Jul 30, 2010 11:58:09 AM

Actually, as I recall it was those who placed in the top one-tenth of one percent in terms of income who really benefited from the Bush tax cuts.

Posted by: WD Kebschull | Jul 30, 2010 2:58:27 PM