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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?


To: PROLIFE who wrote (465450)9/26/2003 2:45:07 PM
From: tejek  Read Replies (1) | Respond to of 769670
 
<font color=red>Here's some truth for you!<font color=black>

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Bush Helps the Rich -- and Not Many Others

By James J. Cramer
09/26/2003 11:19 AM EDT

Rich people will hate this column. But I have to be honest about this. When people ask me if I am better off now than I was before George W. Bush became president, the answer is much better off; in fact, it is "so much better off that it doesn't seem right to me, given what I see happening in the country."

It's not guilt I feel. It is more of a sense of helplessness. I keep reading that our schools stink, our military is under-equipped -- 40,000 guys without Kevlar in a shooting gallery? -- and our ports and subways and malls aren't any safer than they were on Sept. 10, 2001.


Yet I am getting these gigunda breaks in capital gains and dividends and personal income taxes. I am getting far more than my fair share because I have far more gains than most people.

I always have believed in progressive taxes, in part because I always have thought, what the heck, I benefited from the system so the system should make me pay. Now I feel that I am benefiting from the defense effort, but my kids will have to pay for it. For the life of me, I can't figure out why my taxes are going down so sharply yet most of the people I know -- and I know lots of people who aren't rich --seem to be doing really terribly unless they sell their houses, realize the gain and move elsewhere. Few people I know seem heartened by the stock market's good gains this year because few I know participated -- and I know a lot of people, thousands of them!

Seems wacky to me. Seems unfair.

I know that I should just shut up about it and reap the big-time benefits that the Republicans are throwing my way. If I don't need the money, I can give it to charity -- which I assure you, I do, in spades. But as a history student, knowing what happens when you have guns and butter -- or in this case, Iraq bills and farm bills -- things get messed up even if you don't intend it. It is fashionable in this country to be right-wing and populist. Maybe I am feeling out of fashion with all the tax breaks thrown my way.

In reality, though, the real vulnerability that President Bush is feeling -- and I still have no doubt he will be re-elected, because these candidates aren't sharp enough to beat him yet -- has to do with the fact that I think I am one of a couple of thousand people who are not only better off than we were before Bush started, but much, much better off. Not only am I not being asked to sacrifice, I am being given the hi-sign to party down, 'cause this president just wants me to be even richer than I am! I guess he's my guy!

And I can tell you, I am feeling awfully lonely in my super-de-dooper financial condition. No household job survey, no productivity survey and no big gain in the Nazz is going to change that if it hasn't already.


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James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO.