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Cost of Tax Cuts

Nov 03, 2011 | By Eric Gibble

Out of the 116 million households in America, two-thirds of the nation's total income gains from 2002 to 2007 flowed to the top 1 percent of U.S. households (or 1.2 million). Meanwhile, they have been handed over $700 billion in tax breaks. Check out this website to see a live count of the cost.

On the opposite side of the spectrum, over 45 million Americans now use food stamps, and 6.7% of the U.S. population are living 50 percent or less below the official poverty level. That’s 1 in 15 Americans. As a country, we must uphold our values. Should we continue to offer tax cuts for the top 1% in favor of cuts for social safety net programs?  

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