With all the recent talk of social Security Privatization, let us not forget the second plank of the conservative plan to transfer as much wealth as possible from ordinary working folk to Fat Cats. Making his first term tax cuts permanent is one of Bush's main objectives this term, so lets take a look at just what that means exactly...
Currently the tax cuts are set to sunset, or expire, here is what the situation will look like.
So we can see that if made permanent, these tax cuts will swamp the budget, ballooning the deficit further. There is more, and it gets worse...keep reading.
We can see form the graph above that tax cuts for the top 1% are roughly equal to the costs of Education, or Veterans Affairs, and way more than HUD and the EPA ! Nice to see those priorities.
Furthermore, when the President talks of a Social Security crisis, from the graph above one could reasonably argue that the tax cuts for the 1% richest in this nation are an equal crisis, that I think we could all agree upon !! It's really laughable !
This final graph shows just how pathetic the claim of cutting the deficit in half REALLY is. More like double or quadruple it. All this from the first MBA President.
Little wonder his private businesses all needed to be bailed out, only this time, it's the American people who are going to need the bucket.
Graphs taken from the Center on Budget and Policy Priorities
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