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Bush tax cuts helped the rich get richer

Publié par Clifford Armion le 17/01/2012

Editorial Board

WHILE FEW QUESTION the fact that income inequality has risen in the United States over the past three decades, there is plenty of dispute about why. Some argue that the upward shift in after-tax income reflects a high-tech society's increasing rewards to highly skilled workers, or the rise of super-paid superstars in everything from finance to sports, or the decline of labor unions and the minimum wage.

Another concern is that the lighter federal taxation of capital gains and other investment income relative to ordinary income has skewed income distribution upward. This is related to the so-called Buffett Rule, whereby the Omaha billionaire (and former Washington Post Co. board member) Warren Buffett pays income tax at a lower effective rate than his secretary does, largely because so much of his income comes from investments.

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"Bush tax cuts helped the rich get richer", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), janvier 2012. Consulté le 25/02/2021. URL: http://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/bush-tax-cuts-helped-the-rich-get-richer