Wednesday, May 28, 2003

Another Tax Cut?

So Bush had a big ceremony in the White House to boost the signing of his beloved tax cut bill, promising it will give the economy a jump start. Yeah, right. Bush couldn't even jump-start an SUV on his ranch. The well-being of the average American is in deep trouble, and Bush wants to continue enriching the wealthy while impoverishing the poor. While some will liken this supply-side scheme to the Reagan tax cut of 1981, it's worth noting that Reagan pushed his tax cuts early in his first term, and the economy rebounded enough - in less than two years, in fact - to give the Gipper a comfortable edge in the presidential election of 1984. The economy at this stage of Bush the Younger's term, by contrast, is still in the doldrums. As proof of this, Congress passed - and Bush signed - one bill raising the debt ceiling to let the government borrow money to pay for these tax cuts and another bill extending unemployment benefits.
 Both bills were signed privately in the West Wing, the better to draw attention away from the fact that the government is bankrupt while the economy is running on fumes. Heck, Bush probably just stamped his signature on them.

No comments: