Thursday, March 23, 2006

The GOP Budget is...

...out of control!

From West Texas A&M University web page - click here to read more...

First, if the government is going to spend money, it needs to spend it appropriately. In the 2007 budget, President Bush calls for $3 billion in federal subsidies for U.S. oil companies. In that same budget, he also calls for a $12-billion cut in Medicaid.

Thus, the Bush plan takes money earmarked for indigent healthcare, and gives it to oil companies that currently are raking in record profits.

The federal budget is full of these misappropriations. But what do you expect? Bush has proven again that his interests do not lie with the American people; they lie with American (and even foreign) corporate interests.

Second, Bush could repeal his tax cuts. I know you probably think you already pay too much in taxes—and you're right, you do. But, Bush's tax cuts save the average American only about $800 come tax season whilesaving the wealthy thousands, if not millions, of dollars annually.

If Bush repealed his tax cuts on the wealthy 0.3 percent, all Americans earning over $1 million dollars annually, the government would save more money than all of this year's proposed tax cuts combined. Republicans tend to think tax cuts pay for themselves. They say tax cuts lead to more consumer spending, which in turn boosts the economy and allows the government to take a smaller percentage of a much larger economic pie. If this is true, the tax rate should be 1 percent and we should all be billionaires.

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