Friday, July 08, 2005

Huck Gutman calls Bush the "worst U.S. President ever"

MR Bush has not been kinder to American people, nor secured their well-being as their elected leader is supposed to do. He has redistributed wealth from the middle class upward — to the very wealthiest families in America. Two tax cuts which give the biggest benefits to the top one per cent — those who earn more than $337,000 annually — have raised the tax burden on the middle class.

This past year, for instance, President and Mrs Bush earned $784,219 and Vice-President and Mrs Cheney earned $2,173,892. (Yes, they are both clearly in the top one per cent of income earners). The Bush-enacted tax cuts slashed their tax bills, 12 per cent for Mr Bush, 18 per cent for Mr Cheney so that they paid $110,182 less than they would have paid had the legislation not been enacted.

Meanwhile, in the longer run the only way to pay for these tax cuts — which turned a federal surplus into an enormous deficit that the Bush administration projects at $521 billion in this year alone — will be to reduce government spending on the programmes which underwrite the quality of life for poor and middle class Americans: food and income support for the poor, education and health care and pensions for the middle class. Thus, the massive tax cuts to the wealthy will be paid for by hacking away at, bankrupting and terminating programmes that support the working people of America.

Read the Complete Article


Post a Comment

<< Home