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Thursday, August 10, 2006
Two Delaware bloggers team up (unintentional) for greater clarity
First we have Dana on the Bush tax cuts...Using the revenue projections for 2006 of the partisan US Office of Management and Budget (OMB), the nonpartisan Congressional Budget Office (CBO) projects that the federal budget would be balanced this year:Based on Joint Committee on Taxation estimates, the tax cuts enacted since January 2001 are costing a total of $258 billion in 2006 (including the increased interest costs of the debt that result from the borrowing that is required to cover the lost revenues). This means that even with the spending for the wars in Iraq and Afghanistan and the response to Hurricane Katrina, the federal budget would essentially be in balance this year if the tax cuts had not been enacted, or if they had been offset by either increases in other taxes or cuts in programs, as would have been required under the Pay-As-You-Go rules that tax-cut proponents first ignored and then allowed to expire.Therefore, unless you are a member of the ultra-wealthy class, George Bush has picked your pocket in two ways:
1. He has borrowed money and to pay for his tax cuts for the rich and his wars. He charges all this debt to you and your children by making you responsible for paying back the money the government borrowed to finance his welfare for the wealthy schemes. You also have to pay the interest he charged to your Âcredit card.Â
He uses his wars as a means to increase defense spending, which in turn provides a source of revenue that is used subsidize the rich through corporations that have contracts with the Pentagon.
So Bush could have had his wars and paid for them by now. But he was interested in raiding the treasury as well as a way of financing the ultra-wealthy. Then Donviti delivers the coup de grâce...As I sit here and watch the American values twisted to serve the uber rich that is when it hit me. We have cut taxes for the the top 1%, they have had their capital gaines reduced to nothing (taxes I remind you on profits mostly being earned on income that was never taxed to begin with) which leads into the Estate Tax, the "death tax" as they like to call. they (the rich) want to get rid of this HORRIBLE tax. IT TAXES YOU TWICE.....they cry. Only iditos believe that. The tax that allows people to pass on incredible masses of wealth to heirs is truly what it is. See that money is in most cases not taxed either, so now all these dividends that were never taxed, get passed onto uber rich people that don't want money they didn't "earn" taxed. The money was never taxed in the first place let alone the fact that the money being passed onto them is essentially income. Sooooooooo we are creating a non productive upper class. Quite the opposite of what our fore fathers had hoped to avoid.
We are all slaves at this point. I know, I know you already knew that. Well yes and no. You see there was a time when companies like, Ford, GM, DuPont, IBM, AA, all made you feel loyal. They made you feel like you were a part of something bigger. Sure they guys at the top were frigging loaded, but you shared in that piece of the pie. You were safe, you were taken care of. You had the luxury of knowing that what you were doing served your family and your country. You just felt like a part of something bigger.
Well no more. The rich don't want free loaders. They want you to pick you up by your boot straps (even if you don't have boots) They want communities to help out the needy. They have paid enough. they government has paid enough. It is time for the American people to no longer rely on the government.....because you see the government needs the income and the tax money from the rich to make this country run. But to them that isn't fair. It is like that litte child in the WSJ commercials. "this is MY MONEY!!"
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