As you know, our economy is declining. Who's fault? Corporations, stupidity, CEOs. Bush. Today were going to talk about Bush's so called economic plan. Bush cut taxes.
He said:
The guy at the bottom of the money tree gets a larger tax cu than the guy up on the top. Therefore, the guy on the bottom has benefited more than the guy on the top of the money tree.
Many Americans fall for that saying, because it looks good percentage wise. The poor people get more money, and everybody is happy.
However, Bush did not tell you that the tax cut was for the rich. The guy at the bottom of the money try may have saved around 100 dollars because of the tax cut. Now look at the guy on the top of the money tree. He/she has saved more than 1000 dollars due to the tax cut. Plus, that person's stock/bond money aren't taxed. So the person on the top gets more money than the guy on the bottom.
See the problem (results are not correct, just there for an example)?
Because of the war in Iraq, the bad timing to give a tax cut, Bush has raised the allowed national debt number to 8.18 Trillion. The original allowed national debt number 8.1792 trillion. This is 70 percent of the national economy. By passing this bill, he can now spend more money, and leave our country in more debt.
So who has to pay for this large debt? We do. Bush has planned to dip into our social security money pool in order to pay off this large debt. Plus, he refuses to raise taxes, and/or tax the money made from stocks. Now something just doesn't add up here. Why is he lowering taxes when he's just going to take money from the people themselves? The social security funds are from the people. So your basically just taking money from the people in a more discrete fashion.
We need this money to pay off our national debt. Bush doesn't think so. He's all for the tax cut.
Monday, December 13, 2004
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