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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (100023)	2/13/2005 8:52:47 AM
From: Mary Cluney	Read Replies (2) of 793782

This is always the left's attack frame. Make everything "rich vs poor." Krugman can sell it to the true believers on the left. Fortunately, the public is buying it. You can't dismiss Paul Krugman that easily. He is a professor of Economics and International Affairs at Princeton University. He received his B.A. from Yale University in 1974 and his Ph.D. from MIT in 1977. He has taught at Yale, MIT and Stanford. IMO you have to at least care to find out if what he is saying is true or not: More than half of the benefits from this backdoor tax cut would go to people with incomes of more than a million dollars; 97 percent would go to people with incomes exceeding $200,000. It so happens that the number of taxpayers with more than $1 million in annual income is about the same as the number of people who would have their food stamps cut off under the Bush proposal. But it costs a lot more to give a millionaire a break than to put food on a low-income family's table: eliminating limits on deductions and exemptions would give taxpayers with incomes over $1 million an average tax cut of more than $19,000.

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