Monday, June 23, 2003

Funding his own re-election

It is amazing that at a time when the economy is in the dumps, and the unemployment rate is higher that it has been in a decade, the president is on his way to raising more money for a re-election campaign than anyone in history. Isn't there something very, very wrong with that?

But the indisputable fact is that the bulk of the tax cut will go to the wealthy. A study by Citizens for Tax Justice, a liberal research institute whose calculations have gone unchallenged, found that half of all taxpayers would get a cut of less than $100 a year this year and that by 2005, three-quarters would get less than $100. On the other hand, almost two-thirds of all the tax savings will go to the wealthiest 10 percent of taxpayers, and the richest 1 percent will get an average tax reduction of nearly $100,000 a year. Bush May Have Exaggerated, but Did He Lie?

No comments: