April 11, 2003

REALITY CHECK
Poverty on Rise in U.S.

As Congressional Republicans try to push through President Bush's tax cut, which will primarily benefit wealthy taxpayers and those who own equities that pay dividends, a significant number of Americans still live in poverty. The number of people living in poverty rose by 1.3 million in 2001, to 32.9 million, according to the Center on Budget and Policy Priorities' analysis of Census data. Meanwhile, the average income of the wealthiest fifth increasing from $259,445 in 2000 to $260,464 in 2001. If Bush is successful in repealing the tax on dividends, 67% of the benefits will go to those with incomes greater than $100,000, and the better off will get a decent income tax break to boot.

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