....LMB: "Santarian Economics"....
January 10, 2003
More details about the less-than-equitable aspects of the Bush "economic stimulus plan."
From the Village Voice:
Almost half of the projected benefits from President Bush's plan to scrap taxes on dividends would go to the one percent of the population whose incomes top $1 million. The scheme has been promoted as beneficial to the elderly, but in fact, only six percent of the elderly with incomes under $50,000 get anything out of it... Further, taxpayers who earn $35,000 or less come away with $27 more a year...
At a time when we are supposedly trying to get rid of subsidies to farmers and other groups, Bush is offering a direct subsidy to Wall Street. The argument is that eliminating the tax would spur the market. Original predictions showed stocks would rise 20 percent. By Monday these projections had sunk to 6 to 8 percent. And critics were beginning to point out that the president's plan would hurt other sectors of the economy, leading to a probable decline in the housing sector and the sucking of money away from small business...
Meanwhile, as the Republicans ready yet another giveaway to the rich, Bush plans to cut back on domestic spending by holding the budget to $316 billion, according to The Washington Post.
Or, to put it another way:
Go find somebody else to explain how this will save our economy, cuz I sure can't.
Hey Jake,
The top 10% of wage earners pay 68% of all taxes.
Meaning the vast majority of people the democrats say they are going to help are not even paying taxes. The Demo's are Pandering for votes. The more you pay the more you get back it's only fair. Over tax and we'll turn into England where everyone flee's and if that happens how are you going to pay for all the illeagal aliens the demo's want to keep in the country to sponge off our social sytems.
John,
I'm part of that vast other 90% of people who you think don't pay any taxes at all. My records show that I pay some $279 bucks a week in taxes, social security, medicare, etc. That's over $14,500 I'll pay this year, which is about the same as my rent plus my car payment, and just about a third of my income. At 45K a year, I'll never be able to afford a home, buy any land, run for public office, etc. Perhaps this will go some distance toward showing you that taxes need to be progressive, and that those of us on the lower end of things need the break.
Besides, you are looking at this issue in exactly the wrong way. The richest ten percent of Americans deserve to foot this bill for a number of reasons.
First, their income derives almost entirely from exploiting people on the minimum wage end of the spectrum. If they paid a living wage, welfare might slowly disappear. Apparently wage slavery is preferable, and corporate giants would rather give the money directly to the government than to their employees.
Secondly, the huge cost of "National Defense" is spent almost entirely on the protection of their assets and interests, including overseas land holdings, trade routes, the use of ports, and affordable tariff schedules.
I understand that you're probably just trolling, but seriously, do you really believe that 'illeagal aliens" cost this nation anywhere near the amount we spend on frivolous government and a defense industry out of control? Some studies have shown that, when you factor in the huge amount of taxes paid by illegals and foreign nationals which will never be collected as social security, and which is clearly forfeited upon deportation, that the whole thing comes out about even.
As for the flight of the rich, I warmly invite it. Let them leave, and maybe small businessmen will have a chance to succeed, and less of an enticement to sell out.
Posted by: Some Guy at January 14, 2003 08:46 AMyou are the ignorent lying media bastards that you call others!
Posted by: at October 21, 2003 01:57 PMI would like us all to get along in this kinder,gentler nation that G.W.Bush has created for our countrymen. Remember the sweet tax-cut that went to the poor? Remember that the reason we are fighting in Iraq... to free Iraqis from their oil and Sadam. I would urge all to visit Billionaires for Bush .com, it's a place where we can all come together and be as one.
Posted by: Dr. Keith Richabunch at May 21, 2004 11:31 AM
