To: bosquedog who wrote (178489 ) 9/7/2001 10:54:36 AM From: American Spirit Read Replies (1) | Respond to of 769667 GOP investigates their own tax cut to the rich: "Bush supporter Weisman interviewed an "ordinary taxpayer" to try and show that the Bush plan is not tilted toward the wealthy. But the taxpayer, a retired Army officer earning $76,000 a year along with his wife, actually has an income higher than 80 percent of American households. Even so, he was skeptical of the Bush plan. "Anybody below $100,000 is going to get screwed," he grumbled. Oddly, the reporter tried to win his source over to the plan by revealing the size of the retiree's expected tax cut, as estimated by Deloitte & Touche: $174 the first year, growing to $871 by 2006 when the plan takes full effect. "That is useful money," the retiree finally admitted. What such articles fail to point out is that the size of the tax cuts for middle-class households is tiny compared to the enormous cost of the overall Bush plan, most of which comes from cuts for the wealthy. These cuts come with a price tag: Every dollar spent on tax cuts for the rich is one less dollar available for federal programs or paying down debt. Yet in stories like this one, the cost is ignored as reporters focus on the small portion of plan devoted to modest tax cuts for middle-class households. Citizens for Tax Justice calculated (2/15/01) that the revenue lost from the plan's proposed tax cuts for households in the richest 1 percent alone totals $774 billion over 10 years--more money than the $738 billion it would take to provide prescription drugs to every Medicare recipient, an idea with so much popular support it was favored by both the Gore and Bush campaigns last year." Especially in a recession, expect the tax cuts to the rich to result in huge slashings of vital social programs. The poor get poorer, the middleclass gets nothing, the rich get richer.