April 18, 2006 03:49 PM | Permalink |
On Good Friday, April 14, 2006, President Bush and Vice-President Cheney released their federal income tax returns for 2005. An analysis by Citizens for Tax Justice of the White House figures shows:
- Due to the 2001-05 Bush tax cuts, the President’s 2005 income tax was reduced by $26,204.
- The President’s income tax rate was 25.4 percent of his reported income. Without his tax-cut legislation, he would have paid 29.0 percent.
- Vice-President Dick Cheney’s 2005 income tax bill was reduced by $1,093,937 due to the Bush tax cuts.
- The Vice-President’s income tax rate was only 5.7 percent of his $9.1 million reported income. Without the Bush tax cuts, he would have paid 17.7 percent.