So, we have a tax bill that few Americans are clamoring for, that the country cannot afford, and that hurts the poor and gives back disproportionately to the rich. There are so many, many problems with the bill Bush signed today that it's hard to begin. We only have space for a few:
Did anyone notice that most of the provisions in this tax plan last for only two years? Conveniently, they expire 59 days after Election Day 2004. We're unclear on just exactly how two years' worth of tax cuts is going to jump-start our economy, but we're pretty clear on how it's supposed to jump-start Bush-Cheney 2004.
Speaking of Bush-Cheney 2004, most Americans with kids will be getting checks in the mail this summer because of a $400 increase in the child tax credit that is part of the new law. We would like to point out that these checks will be received months before the end of the tax year for which these voters will receive their refunds, a fact which absolutely reeks of voodoo economics to us. Our guess is that those checks will be conspicuously mailed from "Austin", just like the $300 checks we received after our last tax giveaway in 2001. You know, those tax breaks that were going to stimulate the economy.
Does anyone in the White House care that the states are bleeding? Faced with looming budget deficits and books that must be balanced, state legislatures are slashing funds for health care and schools, Head Start and unemployment assistance. The tax bill does give $20 billion to the states, but only because a single Republican senator refused to vote for the bill without it. You know it's bad when Republican governors are begging the Bush administration for help. "No can do," says our man in the White House. "We've got a war on terrorism goin', and the economy needs free'n from that dividends thing that's been keeping my fellow Americans down." Oh, and meanwhile we're increasing the national debt by $1 trillion dollars. Our grandchildren, who will be working retail since their schools closed down before they could graduate, will still be paying off that one when we're gone.
Thanks George!
It's interesting that Democrats always claim these tax breaks to be disproportionately for the rich. Last year's tax cut, for example, was phased out after income exceeded $150k.
And did anyone notice that those checks you make fun of really DID stimulate the economy?
Lastly, any citizen who is willing is welcome to donate their tax savings to reduce the national debt at any time. Funny, I haven't heard about many Democrats giving their checks back....
