I'm confused.
Why are we, as progressive liberals, supporting SCHIP which is simply a well disguised tax cut for the rich? Don't we know that $40-60K is 2-3x the national poverty line? Why do we want to have all our hard earned money go to the rich, yet again?
And what the hell is going on with the Republicans? Why are they bad mouthing a de facto tax cut? And a de facto tax cut for the rich no less? Didn't they get the fax telling them about all the jobs that will be created by those rich $40-60K SCHIPers investing all their tax savings?
Now, sure Bush may be taking care of his crony millionares slightly better with his tax cuts on investment income
President Bush's tax cuts for investment income have significantly lowered the tax burden on the richest Americans ...
Americans with annual incomes of $1 million or more reaped 43 percent of all the savings on investment taxes in 2003. The savings for these taxpayers averaged about $41,400 each.
The newspaper's tax cut analysis showed that more than 70 percent of the tax savings on investment income went to the top 2 percent, about 2.6 million taxpayers.
But hey everyone knows that $41K doesn't buy what it use to. Hell, $41K would still qualify your family for government assisted health insurance, for crying out loud. Talk about peanuts.