Federal budget tinkering

I found this site , which lets you play with the Federal 2003-2004 budget, to see the effect of various cuts and increases. One of the things I found, while messing with the 2001 and 2003 tax cuts, was that if you completely eliminated the tax cut for the bottom 95% of taxpayers (those making less than $154,000 per year), you would save about $100 billion dollars. If instead, you simply eliminated the tax cut for the top 5%, more than $154,000, you would save $91 billion dollars. Simply put, the two Bush tax cuts give almost as much assistance to the top 5% as they do to the remaining 95%. That’s fairness in Republican philosophy. Interestingly, eliminating the cuts for the top 5% would just about fund Bush’s Iraq war for 2003. For now, anyway.

November 25, 2003 В· Harry В· One Comment
Posted in: Politics

One Response

  1. scott - November 26, 2003

    Taxcuts sound completely fair to me.