example of the rich getting richer under Bush and why we need to vote
example of how super-wealthy Americans are getting richer under Bush
was released Thursday with Forbes ' annual list of the 400 richest
are now a record 313 billionaires in the country, a 19 percent jump
from 2003. The combined net worth of the 400 rose $45 billion this
the same day, the Republican-controlled Congress passed a political
tax cut that mostly benefits big corporations and wealthy
individuals, adding to the planned total cuts under Bush of $1.9
trillion over ten years.
about half of that money being earmarked for the wealthiest 2
percent of Americans, Bush says middle-class Americans will benefit
from these cuts. But in 2005, almost 70 percent of this
legislation 's benefits will go to the wealthiest 20 percent of
American families, who will see an average of $1,200 each, according
to the Urban Institute-Brookings Institution Tax Policy Center. Only
10 percent of the money will go to the middle fifth of households,
who will merely see $169 each.
do you think will pay for these tax cuts down the road? Although
Bush promised to not pass on problems to future generations, that is
exactly what he is doing with his record deficits. Americans will
either see more tax increases in the future or further cuts in
programs that many people need to survive.
burden will once again fall on middle-income Americans. Bush has
reduced the share of taxes paid by the wealthiest one percent of
Americans, who control about 35 percent of the country 's wealth,
from 22.2 percent in 2001 to 20.1 percent this year, according to
the Congressional Budget Office.
the middle fifth of Americans, who control about 15 percent of the
pie, saw their tax burden rise from 18.7 percent to 19.5 percent.
The wealthiest one percent received an average tax cut of $78,460
this year, while the middle 20 percent 's average take was $1,090.
Bush claims to lower Americans ' taxes, he is really shifting the
burden to state and local governments, which usually have tax
policies that hurt the middle class more. His 2005 federal budget
cut grants for programs to states by about 3 percent, and he has
changed laws that resulted in further cuts to Medicaid and Medicare.
Bush has forced states to pay for unfunded mandates for homeland
security, election reform and the No Child Left Behind education
law. Federal policies cost state and local entities at least $185
billion over the past four years, according to the Center on Budget
and Policy Priorities.
record also includes a 4.3 million increase in the number of
Americans in poverty, a $1,535 decline in median income, after
adjusting for inflation, a 5.8 million rise in the number of people
without health insurance to a record 45 million, a 1.2 million net
loss in jobs, and a 34 percent rise in the average tuition for
addition, Bush failed to fulfill his pledges to get bin Laden
"dead or alive" and extend the assault weapon ban. He lied
our way into another Vietnam-like war in Iraq that has killed
thousands. He pulled out of the Kyoto agreement on global warming
and rolled back more than 200 environmental regulations. He backed a
constitutional amendment to outlaw gay marriages that would be the
first time in history that a federal amendment was used to deny an
Kall, publisher of the ezine, OpedNews.com, has produced an
excellent one-page flyer that summarizes why John Kerry would make a
much better president than Bush. It's at http://www.opednews.com/kall_092404_why_kerry.htm.
it out. Copy it. Distribute it far and wide.
Thoreau, a Washington, D.C.-area journalist, contributed to Big Bush
Lies, published by RiverWood Books and available in bookstores
across the country. Thoreau's free electronic book, The Strange
Death of the Woman Who Filed a Rape Lawsuit Against Bush & Other
Things the Bush Administration Doesn't Want You to Know, can be read
He can be reached at email@example.com
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