FITE (Fairness In Taxes for Everyone): newsletter #15
The conservatives are at it again, doing their old routine. Calling for cuts in more programs to close the budget gap. As we have noted in past newsletters, the problem is that Mr. Bush is hell bent on giving ever more tax breaks to the ultra rich – who then thank him by shoveling even more money into his campaign war chest. Republicans call it “starving the beast” – the “beast” being government. It’s the politicians helping the ultra rich again to embezzle our money. The problem is partly the tax cuts for the rich, and the solution is to reverse them.
And they shouldn’t forget two more embezzlement schemes, their illegal use of charitable foundations and tax shelters to avoid paying almost a trillion in taxes. So far Congress has continued to refuse the 40% increase in staff that the IRS has requested to stop a gathering epidemic of tax evasion that, says New York Times tax reporter David Johnston, steals at least $1 trillion from our pockets. If Congress took aim at just these two tax evasion schemes and rolled back the tax cuts for the ultra rich, the immediate budget problems would go away.
Our ally at the New York Times, Princeton economist Paul Krugman, wrote this week about the
… urban legend about what went wrong. According to cleverly misleading reports from the Heritage Foundation and other like-minded sources, the deficit is growing because Mr. Bush isn’t sufficiently conservative: he’s allowing runaway growth in domestic spending. This myth is intended to divert attention from the real culprit: sharply reduced tax collections, mainly from corporations and the wealthy.
Is domestic spending really exploding? Think about it: farm subsidies aside, which domestic programs have received lavish budget increases over the last three years? Education? Don’t be silly: No Child Left Behind is rapidly turning into a sick joke.
In fact, many government agencies are severely underfinanced…
A lot of Republicans are now rethinking Bushonomics. They could get blamed for the budget deficit and that could ruin both the economy for years to come and their own political careers.
Meanwhile, what-me-worry Bush sees no need to worry, assuring the people of New Hampshire last Thursday that “the government has got plenty of money.”
Was he maybe confusing the government with his own party – which DOES have “plenty of money,” thanks to the ultra rich? Since this money might guarantee his reelection, why bother worrying about a deficit that will ruin the economy for years to come.