Now it’s Official

The Congressional Budget Office, completely bipartisan, shows that fully one third of Bush’s tax cuts went to the richest 1 percent of Americans.

The report calculated that households with incomes in that top 1 percent were receiving an average tax cut of $78,460 this year, while households in the middle 20 percent of earnings – averaging about $57,000 a year – were getting an average cut of only $1,090.