The Truth About Bush's New Tax Cut

Here, in one nugget, is what you need to know about President Bush's plan to scrap taxes on dividends:

Almost half of the projected benefits from President Bush's plan to scrap taxes on dividends would go to the 1 percent of the population whose incomes top $1 million. The scheme has been promoted as beneficial to the elderly, but in fact, only 6 percent of the elderly with incomes under $50,000 get anything out of it. These figures come from a briefing Monday by the Center for Budget and Policy Priorities, a Washington think tank. Further, taxpayers who earn $35,000 or less come away with $27 more a year.
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An Irrelevant Proposal
By Paul Krugman

Here's how it works. Faced with a real problem — terrorism, the economy, nukes in North Korea — the Bush administration's response has nothing to do with solving that problem. Instead it exploits the issue to advance its political agenda.

Nonetheless, the faithful laud our glorious leader's wisdom. For a variety of reasons, including the desire to avoid charges of liberal bias, most reporting is carefully hedged. And the public, reading only praise or he-said-she-said discussions, never grasps the fundamental disconnect between problem and policy.

And so it goes with the administration's "stimulus" plan.
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Bush Proves He's an Upper-Class Act
Under his tax plan, the only winners are the economic elite

It's Time for Glenn Hubbard to Quit as CEA Chair

  thanks to Tapped

The Seriously Dumb Tax Cut
by Molly Ivins