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This page contains all of the posts and discussion on MemeStreams referencing the following web page: The Bush Tax Cut: One Year Later. You can find discussions on MemeStreams as you surf the web, even if you aren't a MemeStreams member, using the Threads Bookmarklet.

The Bush Tax Cut: One Year Later
by Reknamorken at 1:36 pm EST, Nov 7, 2002

] "Last June, President George W. Bush signed the Economic
] Growth and Tax Relief Reconciliation Act of 2001
] (EGTRRA). This policy brief provides an assessment of the
] tax cut. Our findings suggest that EGTRRA will reduce the
] size of the future economy, raise interest rates, make
] taxes more regressive, increase tax complexity, and prove
] fiscally unsustainable. These conclusions question the
] wisdom and affordability of the tax cut and suggest that
] Congress reconsider the legislation, especially in light
] of the economic downturn and terrorist attacks that have
] occurred since last summer. "
] ...
] Thus, the principal distributional effect of EGTRRA is
] a tax cut for the top 1 percent of households that is
] disproportionate relative to every criteria noted in
] table 1. This tax cut comes immediately after a
] twenty-year period in which the both the pre- and
] post-tax income of the top 1 percent grew much faster
] than for any other group of households.

I love the way Americans blindly put their faith in the illiterate ramblings of a religious fanatic like Dubya.


 
 
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