The New York Times just did the math on IRS 2003 taxes, the latest data available, and published results. "The first data to document the effect of President Bush's tax cuts for investment income show that they have significantly lowered the tax burden on the richest Americans, reducing taxes on incomes of more than $10 million by an average of about $500,000. "
Scandalous? Yes, but 'tax cuts on investments' is the third tax benefit that Bush 's wealthy supporters have gotten.
Fairness has never been the objective of taxes. Privilege gives lazy parasites a free ride on the backs of working people. At the tip of the 'social status pyramid' people do not have to work, because their money works for them and continues to buildup for future generations of capitalist parasites. While at the bottom of the social pyramid, people work harder and pay more taxes without a penny left over to invest in their future.
Remember Bush 's two previous tax cuts for the super-rich? This is in addition to those shifts of the tax burden from the richest to the rest of us. The rationale was "to stimulate the economy. " Shrewd of King George to give all that money back to his buddies so they could get the economy moving and increase their income. Can 't you just imagine all that cash working hard for economic recovery? Shopping for investments in big-oil, tropical sweat shops, and military flight jackets without bulky body armor, is such a blast.
How are the rest of us doing? Not too good on jobs and wages. But 'offshoring' our jobs to destitute workers in poor countries did get wages down and pushed the economy back up.
"When wages go down, profits go up! " Isn 't capitalism great?