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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Seeker of Truth who wrote (50998)6/16/2004 11:22:38 AM
From: AC Flyer  Read Replies (2) of 74559
 
>>The right wing, both in the US and Canada, have been instituting vicious tax cuts. I say vicious because they primarily benefit the rich and are ALWAYS accompanied by cutbacks in what the poor need most, i.e. education, health and public transportation.<<

This is a purely ideological response, Malcolm, with no basis in fact. Tell me that you have done just the most superficial research on this in order to reach your conclusions? I thought not.

Here are the facts. Bill Clinton's 1997 tax cuts included a new $500 per-child tax credit and expanded the Earned Income Tax Credit (EITC) for low-income workers. George Bush's 2003 tax cuts increased the value of the child credit to $1,000. The net result of these actions has been to increase the number of Americans who pay no taxes by 10 million since the year 2000.
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