End our 50-year national nightmare: Vote Obama!

(Here's a letter-to-the-editor that will be printed in my local paper here in North Carolina. Permission hereby granted to use any part or all of it in letters to your hometown papers.)

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$2,900,000,000,000.00 Budget (political cartoon)

Crossposted from Town Called Dobson


click to enlarge

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Happy $300 Billion Deficit Day!

So the deficit is only $300 billion!  That's great news.  Way to go Mr. Prez!

This is an open thread.

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Fuzzy Math: The Realities of the Bush Tax Plan

On May 13th , I wrote about the most recent round of irresponsible tax cuts signed into law by President Bush. Despite President Bush's talk about the Average Joe's benefits under these cuts, America's financial elites are the real winners. For example, while the average taxpayer's tax savings (about $30) won't even be enough to pay for a full tank of gas at skyrocketing prices, those at the top of the financial food chain who make $1,000,000 or more a year will receive on average $42,000--enough to buy a gas-guzzling luxury SUV. Average Joe indeed.

As 2006 shapes up as an increasingly poisonous electoral atmosphere for Republicans, this measure aims to shore up support from a key element of the Republican base--CEOs, board members, and the country's financial elite. We've seen this before in round after round (Al Gore warned us of it in the presidential debates of 2000); the average taxpayer receives small benefits, while the true boon goes to the extremely wealthy. However flawed the "Average Joe Tax Cut" myth is, there's another absurd mythology perpetrated by the financial elite to delude America into thinking these kinds of cuts are sound fiscal policy--the notion that tax cuts "pay for themselves." As it turns out, they don't

Yesterday, the Philadelphia Inquirer featured this editorial. It's a sharp rebuke to the irresponsible fiscal policy of President Bush. Here are some of the highlights; let the financial elitist myth debunking commence:

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Set Priorities: We Can't Let Republicans Repeal the Estate Tax

This is my first diary here, and I wanted to use it to highlight a very important issue coming up for a vote soon in the Senate.

I'm working with a group called Coalition for America's Priorities.  We're a coalition of progressives and responsible business groups who are fighting to ensure that Bill Frist and his boys in the Senate don't eliminate the Estate tax.

For those who haven't checked in a while, yes America is still in debt.  Yes, we are still running a huge deficit each year.  Yes, more money is still needed to rebuild from Katrina.  Yes, America still has pressing monetary needs including body armor for our troops, better schools, a better health care system etc.

Yet despite all these needs that America has, Bill Frist wants to vote to permanently repeal the Estate tax and cost our treasury over a trillion dollars in the next 10-15 years.  

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Diaries

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