Chart of the Day

AEI's Kevin Hassett graphs the consequences of Bush's tax cuts:


source: AEI


As Hassett explains:

The blue line indicates the share of income taxes paid by the top 10 percent of taxpayers. The pink line indicates the share of income taxes paid by the bottom 90 percent. In 2006, the top 10 percent of earners paid fully 70.8 percent of taxes. That is significantly above the 2000 peak of 67.3, before the Bush tax cut.

See also Business Week last year and David Limbaugh last Thursday.

(via WILLisms)