As we've said time and again, one of the main reasons why the Bush tax cuts are so egregious -- besides the fact that they are draining the Treasury of revenues and causing important federal programs to get squeezed -- is the that the beneficiaries of these tax cuts are overwhelmingly the very richest people in our society. As this well-written article puts it, "things will get even worse if the Bush administration gets its way. That’s because one key part of the Bush administration’s tax cuts--eliminating the estate tax--hasn’t gone into effect yet." This is an excellent point; estate tax repeal would only further slant tax cut benefits towards the wealthiest. The article includes a number of other great points and facts on taxes; I've included a few of them below.

• Those in the top 1 percent income bracket are expected to get an average tax cut of $39,000 in 2006--or 52 times more than households at the middle of the income ladder. Those with incomes over $1 million will receive an average tax cut of more than $111,000.
• Because of lowered tax rates on investment income, taxpayers with annual incomes more than $10 million paid about the same share of their income in income taxes as those making $200,000 to $500,000.
• The 181,000 Americans with annual incomes of $1 million or more--about one-tenth of 1 percent of all taxpayers--reaped 43 percent of all the savings on investment taxes in 2003, about $41,400 per person.
• In contrast, the 71 percent of tax filers with incomes less than $50,000 saved $10 each from the capital gains and dividend tax cuts, adding only 2 percent to their $425 average tax reduction in 2003.