TAXES – STUDY SHOWS CUTS MEAN NET LOSS FOR MOST AMERICANS:

A new study by the Center on Budget and Policy Priorities (CBPP) and the Tax Policy Center shows more than three-quarters of all households will end up net losers when the government actually pays for President Bush's tax cuts. And no matter how the government eventually decides to pay for the cuts, "The net 'losers' would be concentrated among low- and middle-income households." Only those in the top 20% of the income bracket would register a net gain from the cuts. The report concludes: "The tax cuts are often portrayed by their supporters as painless and simply 'giving people their money back.' But the numbers presented above indicate that the substantial majority of American households ultimately will be made worse off by the tax cuts, because the tax cuts ultimately will have to be financed."