During a time of economic recession further tax cuts are not the answer to solving our nation’s problems. Instead, the money that would go to tax cuts must be used for a national prescription drug program and improved childhood education programs, as well as health care programs for those in need.
President George W. Bush got the country into an economic and fiscal mess, and now it is his job to tell us how he plans to get us out of it. Since the Bush administration remains unworried about the current economic recession, Democrats are taking the spotlight on economic issues.
Sen. Edward Kennedy (D-Mass.) proposes postponing the $300 billion worth of tax cuts to be given over the next four years. While Republicans are saying that this is an attempt to raise taxes, it is far from the truth. Kennedy proposes to postpone some of the tax cut scheduled for 2004 and 2006 until “the economy emerges from the downturn.” These tax cuts do nothing but help the rich, a consistent policy in the Bush administration.
Kennedy added, “Future additional tax breaks for the wealthy do not deserve higher priority than strengthening education or covering prescription drugs under health care or meeting other urgent national priorities.”
If the tax cuts of the wealthiest 1 percent of families were postponed each year, the government would save $190 billion dollars through 2011. This is a testament to the fact that the Bush administration is solely out for the rich. Kennedy’s proposal also ensures that people with an income less than $130,000 a year will still be subject to the tax cuts in 2004 and 2006.
If Republicans still call this an opportunity for Democrats to raise taxes, maybe they should examine their golden boy, Gov. Jeb Bush (R-Fla). Last month, Gov. Bush signed into law a policy delaying a scheduled state tax cut. So, if Republicans insist Democrats are looking to raise taxes, then so is one of their own.
In a time of recession, it is necessary for the government to have available to them a large amount of money to solve economic problems. The Republican tax cut plan is an invalid solution. Giving more money to the rich is inequitable.
The Kennedy proposal will make it possible to attempt to solve all of our economic problems, without dipping further into the social security fund, and without sacrificing basic human needs – mainly a prescription drug plan, childhood education and health care coverage. Sen. Max Baucus (D-Mont.), Senate Finance Committee chairman, states that it was inappropriate to “revisit the tax cut in the midst of a recession.” If the chairman of the Finance Committee says it is inappropriate, it would make more sense to agree with him.
Bush’s current economic policies can easily be compared to the downfall of Enron, with botched books, fuzzy math and incorrect planning for the future. The collapse of Enron could also signify the fall of the Bush economy, if it can fall any farther. If Republicans cannot correctly run a business, such as Enron, how can America trust them to run a country?
Bush once again proves that he acts solely for wealthy Americans. The common person, the family that makes less than $50,000 each year is almost totally ignored once again. The country needs universal health coverage and education, not trickle-down tax cuts.
Bush will once again dip into the social security fund to give more money to the wealthy. He has done this since the start of his administration. Even in times of despair and economic recession, it seems he is continuing to do so. This is not what America needs.
-The writer, a senior majoring in political communication, is president of the GW College Democrats.