Ending Tax Breaks for Wealthy Will Help Get Nation Back on Track
President Obama’s speech today urging Congress to end the Bush tax cuts for the richest 2 percent of households – those making at least $250,000 a year – is an important first step to making the wealthy pay their fair share of taxes, according to Americans for Tax Fairness.
“People who earn more than $1 million a year get an average tax break of $143,000 from the Bush-era tax cuts, but people making about $50,000 only get an average tax break of about $1,000,” said Frank Clemente, Campaign Manager of Americans for Tax Fairness. “When the rich get tax breaks they don’t need and the country can’t afford — hard-working, middle-class Americans have to make up the difference — and that’s not right.”
“That’s why it’s time to end the Bush tax cuts for the richest 2 percent, so that the wealthy start to pay their fair share,” added Clemente. “To get our nation back on track—we need everyone to do their part—and ending the Bush tax cuts for the richest 2 percent is a good first step.”