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April 04, 2004

Tell It Like It Is

Allan Sloan at Newsweek let's loose on Bush's real tax goals:

If Bush gets what he wants, the income tax will become a misnomer—it will really be a salary tax. Almost all income taxes would come from paychecks—80 percent of income for most families, less than half for the top 1 percent. Meanwhile taxpayers receiving dividends, interest and capital gains, known collectively as investment income, would have a much lighter burden than salary earners—or maybe none at all. And here's the topper. In the name of preserving family farms and keeping small businesses in the family, Bush would eliminate the estate tax and create a new class of landed aristocrats who could inherit billions tax-free, invest the money, watch it compound tax-free and hand it down tax-free to their heirs.
This is class war-- by Bush on behalf of the rich investment class on those who earn their money hour-to-hour through wages.

Look at his tax policies, look at his policies promoting lower wages and higher profits-- the common thread is that wage-earners lose and shareholders win.

Some things aren't simple. But understanding Bush's policy agenda is as simple as that.

Posted by Nathan at April 4, 2004 12:43 PM