The Dems release their own economic stimulus plan to counter Dubya’s dividend debacle. Not bad…definitely better than the Bush fiasco. But why not a payroll tax reduction, and what is up with these $300 tax rebates? I’m sorry, but in this day and age, particularly with credit cards so easy to obtain and abuse, $300 is not going to change anyone’s financial straits. Instead of making tough decisions or wise policies about what to do with taxpayer money, legislators are handing it back to us in meager amounts in what basically amounts as a voting bribe. Simply put, it’s an evasion of responsibility and a waste of time. Cut payroll taxes, restructure the rolls, do something…but don’t just keep handing out rebates. C’mon, Dems, you can do better. (Although, I must say it again, this still sounds like a much better plan than Dubya’s.)
Category: Dubyanomics
Don’t call it a comeback.
They’ve been here for years. Nevertheless, the 108th Congress returns, with the GOP controlling all branches of government for the first time since the Jeffords defection. How much damage can they do in one term? I guess we’re going to find out.
True Colors Shining Through.
As we embark on war in the Middle East and the states grapple with their worst fiscal crises in a generation, Dubya moves once again to protect the wealthy by eliminating taxes on dividends, despite the minimal effect it’ll have on economic growth. Typical. I’ve wondered aloud (10/12) about the double taxation on business profits before, but that was in better times, before Dubya blew out the economy with his deficit-exploding tax plan of 2001. (Speaking of which, thanks for the 300 bucks. It changed my life.) Given our dire economic situation and wartime footing now, it’s almost criminal to eliminate dividend taxes to aid stockholders, particularly when high payroll taxes continue to consume the balance of working Americans’ paychecks. (Of course, Dubya plans to pay for all this by freezing all domestic spending except homeland security.) Absolutely ridiculous…How out of it can you be? What will this plan do for the millions of Americans who don’t play the stock market? Are they suppose to pay for the war in Iraq while the wealthiest Americans watch their bank accounts grow? I swear the Monopoly guy must be taking meetings with Karl Rove somewhere in the West Wing.
No kidding…really?
The Washington Post announces in a front-page article that our “compassionate conservative” Prez has accomplished nothing compassionate in his first two years in office. In a related story, trees are green.
Soak the Poor!
Brilliant. The Dubya administration is currently looking for ways to justify raising taxes on the poor. As Tim Noah pointed out in Slate, between this and Trent Lott it seems the GOP is showing their true colors all of a sudden.
Walking-Around Money.
Oh great. NOW they start paying political appointees huge bonuses, despite both the recent raise freeze and impending job cuts for career government workers. Where was the love when I was at the FCC? Oh, that’s right – the Clinton administration didn’t indulge in this type of ridiculous cronyism. But nest-feathering patronage remains alive and well under Andy Card, just as it did ten years ago.
Kerry steps out.
Democratic hopeful John Kerry bashes Dubya’s tax plan, and makes the case for payroll tax cuts instead. Nice move…payroll tax reduction isn’t only smart policy, it puts the GOP in an unhappy position – explaining why they’re suddenly against tax cuts that help average Americans at the expense of corporations.
The Other Shoe Drops.
Perhaps content that Saddam’s “resurgence” has snuffed out media coverage of Enrongate for the time being, Dubya tries to gut the SEC’s budget increase, making it impossible for the agency to fulfill the requirements of the recently-signed Sarbanes-Oxley Act. Absolutely shameful. And, as per usual, I think we can guess who’s the brains behind these latest shenanigans.
The Dubya-Dip Downturn.
Bush administration strategists fear the wrath of a W-shaped recession.
Are we done yet?
In related news from the NYT, Bush gets bored at yesterday’s Photo-Op economic summit. “He dutifully scribbled some notes as participants talked, looking as happy as a high school kid in trig class, and bounded out of his chair when Treasury Secretary Paul O’Neill told him he could be excused.” Meanwhile, the Dow dropped 200.