Minor Thoughts from me to you

Barack Obama and the Democrats have been hammering the Bush tax cuts ever since they were signed into law. Over the last 6 years we've heard an endless litany of complaints about the tax cuts. Most complaints center around the claim that Bush cut taxes for the wealthy, gave away huge amounts of money to the rich, and left the rest of the country to rot.

How well is that claim holding up? Not so well [Warning: PDF.].

Congressional Budget Office (CBO) data show that the total effective federal tax rate of the middle fifth of households declined after 2001 to its lowest levels since at least 1979, Congressman Jim Saxton, ranking member of the Joint Economic Committee, said today. Under the 2001 and 2003 tax relief legislation, the income tax as a share of income for the middle fifth also has fallen to its lowest levels in decades.

Huh. Boy, I'm sure glad that we'll finally be rid of President Bush's failed economic policies.