"...I know it when I see it..."
~ Supreme Court Justice Potter Stewart's definition of pornography
I just saw a news conference with GOP Senators and Treasury Secretary Snow concerning the $70 billion tax cut Congress has passed. Showing the naked political transparency of this cabal, Sec. Snow closed his remarks by saying in essence that this bill will show the American people which party is that of the tax-cutters and which is the party of tax increases.
That's what our political system has come to: legislation with an eye for the best soundbite rather than the welfare of the all the American people.
More outrage after the flip...
CNN then showed then showed
a study from the Tax Policy Center shows how obscene the distribution of these tax cuts are weighted toward the mega-wealthy:
Income/year Tax cut
$10-20,000 $3
$20-30,000 $10
$30-40,000 $17
$40-50,000 $47
$50-70,000 $112
$75-100,000 $406
$100-200,000 $1,395
$200-500,000 $4,527
$500-1,000,000 $5,656
More than $1,000,000 $42,766
Why in the world do millionaires deserve "tax relief" when it has been shown that the wages of the average worker has remained stagnant over the last five years while the income of the corporate executives has increased over 20% over the same period.
In essence, those making $50,000 or less per year, who make up over 60% of the American population will receive a tax cut that at most will buy them a cup of joe or two at Starbucks while the millionaires of this country can buy another Lexus.
For those like Dear Leader who need graphic illustrations to understand how this bill works:
For the 60% bottom earners -- here is your tax cut
For the top 0.02% of earners -- here is your taxcut:
With our budget deficits out of control, the nation at war, and the loss of a historic major American city in the last year, only one word describes this pandering shift of income to the very weathy: OBSCENE.