Thursday, September 1, 2005

Katrina getting in the way of tax cuts, no way!

President Bush stated that the federal government will do its share to help the victims of the Hurricane Katrina disaster. But, he also spoke of the importance of having the American people do their share by contributing privately.

While I support charitable contributions, and have myself contributed to the relief effort, perhaps the need for private support would not be so great if President Bush had not given billions of dollars of tax breaks to the very wealthiest Americans, gutting federal resources. As if a deficit exceeding $400 billion (one of the highest on record) is not enough of a wake up call for more prudent fiscal management, the administration and Republican leadership is still pushing for a permanent repeal of the estate tax, an additional $745 billion gift over ten years to the richest Americans.

The next time Bush calls for private support, perhaps he should address just the recipients of his largess, since for the vast majority of Americans, household incomes have failed to increase over the past five years, as reported by the Census Bureau. That’s a new record, neatly coinciding with the term of the Bush presidency.

No comments: