medicineman
New Member
The top 2/10ths of the top 1 percent have names!
by bobcn
Tue Feb 20, 2007 at 11:22:47 PM PST
Look what happens when the top 2/10ths of the top 1 percent have names! Now we not only know what money was cut from vital services, but we know who took it.
We've always known that only a very small group of the country's wealthiest were collecting most of the tax breaks. The argument is an old one that hasn't gained as much traction as it should. Matt Taibbi's article does something different with the argument. He takes Bush's proposed budget and assigns names to the tax breaks. We see that:
by bobcn
Tue Feb 20, 2007 at 11:22:47 PM PST
Look what happens when the top 2/10ths of the top 1 percent have names! Now we not only know what money was cut from vital services, but we know who took it.
- bobcn's diary :: ::
We've always known that only a very small group of the country's wealthiest were collecting most of the tax breaks. The argument is an old one that hasn't gained as much traction as it should. Matt Taibbi's article does something different with the argument. He takes Bush's proposed budget and assigns names to the tax breaks. We see that:
Bush offered a budget that offers $32.7 billion in tax cuts to the Wal-Mart family alone, while cutting $28 billion from Medicaid.
Cox family (Cox cable TV) receives $9.7 billion tax break while education would get $1.5 billion in cuts
...the family of former Exxon/Mobil CEO Lee Raymond, who received a $400 million retirement package, would receive about $164 million in tax breaks.
Compare that to the Commodity Supplemental Food Program, which Bush proposes be completely eliminated, at a savings of $108 million over ten years.
Compare that to the Commodity Supplemental Food Program, which Bush proposes be completely eliminated, at a savings of $108 million over ten years.