Wednesday, September 15, 2004

Feel Safe Yet?

You won't after you read this:

"The White House put government agencies on notice this month that if Bush is reelected, his budget for 2006 may include $2.3 billion in spending cuts from virtually all domestic programs not mandated by law, including education, homeland security and others central to Bush's campaign."

I'm sure you heard all about this from the so-called liberal media. Oh, you didn't? What a surprise. How anyone could support this drunken sailor spending and middle-class destroying tax cutting by Bush is beyond me.

[regarding promises made in his acceptance speech at the convention]:

"...the cost of adding private [social security] accounts to the government retirement program at $1.5 trillion over 10 years. With inflation, the figure would now be about $2 trillion..."

"Bush also called for making permanent his tax cuts...The tax cuts include elimination of the inheritance tax, reductions in the top four income tax rates, an increase in the child tax credit, reduction in the marriage penalty, and cuts to the capital gains and dividend tax rates.... the figure for extending the tax cuts [is placed] at $2 trillion over 10 years... "

"...the expansion of health savings accounts and creation of lifetime and retirement savings accounts. ... have very large costs in the long run because they provide tax breaks when the money is withdrawn rather than up front. The Congressional Research Service has estimated those two types of accounts would eventually cost $30 billion to $50 billion a year. "

"Peter R. Orszag, a senior fellow in economic policy at the Brookings Institution, said a conservative estimate for the cost of Bush's permanent tax cuts and Social Security accounts would be about $4 trillion over 10 years."


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