Richest Americans Get $1.4 Million Tax Cut in Pawlenty Plan

Townhall.com Staff
|
Posted: Jun 13, 2011 10:51 AM
Richest Americans Get $1.4 Million Tax Cut in Pawlenty Plan
The top 0.1 percent of U.S. taxpayers would save an average of $1.4 million in taxes under the economic plan of Republican presidential candidate Tim Pawlenty, according to an independent analysis.

Pawlenty’s $11.6 trillion tax-cut plan, which reduces rates on income, capital gains, interest, estates and dividends, is almost three times larger than the proposals endorsed by House Republicans.

Compared with current tax policy, 63.6 percent of U.S. households would receive a tax cut, with most of the remainder experiencing no change. Almost half of the benefits would flow to taxpayers in the top 1 percent of income distribution, or those earning more than $593,011 in 2013.