Bush II; Day 550: The rich can breathe easy

Yes, thank God! The Senate approved the extension of Bush's tax cuts for the wealthy, and we can go on as a nation without having to actually suffer or sacrifice for this years-long war we were gotten into under false pretenses. Oh, except perhaps for those families directly affected. The rest of us can slap ribbon magnets on our car and feel all proud and patriotic.

Key excerpt:

"The overwhelming share of the tax cuts the Senate voted to extend will flow to the wealthiest taxpayers. People earning $1 million a year would save about $42,700, and reap about 22 percent of the total tax cut, according to the Tax Policy Center, a research group in Washington. People earning $40,000 to $50,000 a year would save about $47 and receive less than 1 percent of the benefits."

$47? I can hardly wait. That should buy me at least a tank of gas!

Posted by elisa at May 19, 2006 06:30 PM | Jobs/Economy/Taxes