Oh, poor rich people... they really needed a break...
Posted by Emil
on Dec 30, 2005
To all rich Americans - Merry Christmas and Happy New Year from President Bush and the Republican Congress!
From The New York Times editorial:
"A surprise awaits the nation's highest earners when they file their 2006 tax returns. Their taxes are going down again... On New Year's Day, two additional tax cuts will kick in, allowing people who earn upward of $200,000 a year to claim bigger write-offs for a spouse, their children and other expenses, like mortgage interest on a vacation home...
Here's where the tale turns absurd: The tax cuts of 2001, followed by those of 2002 and 2003, have busted the budget. The surplus - the original rationale for the tax cuts - is long gone, replaced by a deficit projected to reach $530 billion by 2015, if the cuts are made permanent.
And yet Mr. Bush and Congress persist with tax cuts - for people who don't need the extra help and for purposes that have nothing to do with the country's obvious problems.
It's a heck of a way to begin the new year."
Hey New York Times editors... don't you know that the rich will immediately invest the extra money in job creation... and in donating more for helping the poor. We all will benefit. Or so the Republicans say...
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