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Many bloggers have already demonstrated that, as a result of Bush's many tax cuts, rich people will gain huge cuts in their income taxes while people in the Middle Class and below will get tiny cuts in their income taxes. But the discrepancy in treatment between a working stiff and a non-working super-rich guy will be much worse than this implies. The non-working super-rich will pay NO taxes while the working stiff will bear the entire tax burden.
According to a recent report, 2/3 of companies operating in the U.S. paid NO TAXES between 1996 and 2000. Bush evidently thinks this is not good enough; we must reduce all business taxes. So he proposes tax cuts. He prevents Congress from passing legislation to outlaw tax havens. He favors loopholes of all kinds.
But not for the average Joe. His buddy, Dick Cheney, when he was a Congressman in 1986, introduced legislation for an import tax on oil. He then said:
"Let us rid ourselves of the fiction that low oil prices are somehow good for the United States."
Taxes are good for the average guy, but not on wealthy businesspeople. Perhaps you do not realize how far Bush and Cheney are willing go. Allow me to quote Newsweek:
"If Bush gets what he wants, the income tax will become a misnomer - it will really be a salary tax. Almost all income taxes would come from paychecks - 80% of income for most families, less than half for the top 1%."
Bush and Cheney are serving their rich buddies well. But they are hurting the rest of us. It's outrageous that money earned without lifting a finger is not taxed while money earned through the sweat of one's brow is highly taxed. It should be the other way around. The tax system must be set up to encourage job creation and to assure a living wage to every worker in the country.
It's a terrible shame that fat cats pay no taxes. Vote for John Kerry to remove this inequity and to empower people who work for a living.
