Bush's tax cut is reckless and ineffective


Yesterday, President Bush announced a $674 Billion tax cut that is essentially a reward to his rich cronies for coming through during the November elections late last year. Today, USA Today hits the nail on the head about the Bush tax cut:

The risk is that his program of income-tax reductions, new unemployment benefits and the elimination of individual taxes on stock dividends would produce little short-term growth but leave gaping long-term deficits.
The Bush tax give-aways do nothing to stimulate the economy. It certainly doesn't help working families and average Joes like you and me.
Downturns often hurt lower-income families the most. Yet Bush reserves most of his breaks for the affluent. Accelerating the rate reductions scheduled to take effect in 2004 and 2006 would mainly benefit fewer than a third of taxpayers - those in the highest tax brackets. Only about 26% of tax filers would get the dividend tax break.
Despite being right on about the particulars of the Bush cut, USA Today fails to see the bigger Republican agenda. Bush is hoping to take domestic issues off the table so that he can continue his global conquest. Passage of his so called 'stimulus' will enable them to get back to bullying Iraq, North Korea, and anyone else that doesn't toe the line for Bush.


Category:  Liberal for a Day
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