A report being released by the nonpartisan Congressional Budget Office today concludes that President Bush's tax cuts have largely benefited the most wealthy Americans.

According to The New York Times, the report says that one-third of the cuts have gone to people with the top 1 percent of income. These households, which earn an average of $1.2 million annually, received an average tax cut of $78,460 this year.

On the other hand, households making $57,000 a year only received an average tax cut of $1,090.

Get the Story:
Report Finds Tax Cuts Heavily Favor the Wealthy (The New York Times 8/13)
pwnyt