12:57:07 AM
J Robb nails it big time. Forgot how much I like this guy having been away from my aggregator for awhile. Text is his, highlighting all mine.
NYT. Bush's economic plan. I think it is fairly ironic that the majority of the Republicans I know are people that make below $150k a year. They liked the Republicans because they opposed unrestrained growth in social transfer programs. Now, when it comes time to cut taxes to give back some of the money that had been arrogated by the government, the Republicans don't even recognize that they exist. Bush is giving almost all of the tax cuts to people that make over $1m a year. I guess they think that the rank and file "working" Republicans are merely driven by social and defense issues and really don't care about the pocket book. Poor schmucks.
Personally, I think we are speeding down a path towards a kleptocracy that is enhanced and accelerated by bad tax law and insufficient oversight. The mess we saw at Enron and Tyco were just the tip of the iceberg. It's still going on everywhere. With Bush's elimination of the inheritance tax, elimination of the tax on dividends, and other changes we are now going to see dynasties of kleptocrats.
The thing everyone misses in this is that taxes on extreme wealth and inheritances keep the playing field of life relatively level. Also, regulation of economic behavior allows people that play by the rules to succeed. From everything I can see, we are in a place where a person who is intelligent, works hard, and follows the rules cannot under any circumstances make a significant sum of money on their own. [Jvia ohn Robb's Radio Weblog]
|
