U.S. Government: The Rich Aren't Rich Enough

Although tax cuts are not something high on the American people's agenda, Congress gave us one anyway. And if you are rich, you got an even bigger tax cut. The cuts will remain in place till after Mr.Bush leaves office. They will also insure that the deficit will grow larger. It's Reaganomics revisited; the trickle down theory part deux. It believes that by making the rich richer you will help the non-rich in the process. Reaganomics gave us the largest deficits the country had known up to that point in the 1980s. Just like the Iraq War, these cuts will be left to the next administration to deal with starting in 2010. Its Bush's way of thumbing his nose at the American people.

If you don't know the specifics, here are some of the low-lights: those in the top 1% (people making more than $1.8 million) will see a reduction in taxes of $82,000. If you make $27,000 to $47,000 you will see a hefty $20 in your pocket! The difference in benefit is 61 times more for the rich guy. In addition, capital gains will continue to be tax at 15%. This rate overwhelmingly benefits the wealthy. Get the idea? Its a lot like the proposed $100 tax gas tax credit that didn't go through. That one was laughed-off. This one is going to stick. Its almost as if the Republicans are begging for a backlash. The American people can only take so much. Between the high oil prices, and high interests rates, we can't seem to catch a break.