Friday, January 23, 2004

The Rich get a Low Interest Loan from the Governement --- Oh, and the Middle Class will be paying it back.

Kinsley makes a point in his article reviewing Bush's compassionate conservatism: [here]: " But the notion that tax cuts are money being 'returned' to American citizens is an authentic Reaganite conceit. When the government is running a deficit of half a trillion dollars a year, a tax cut isn't giving folks their own money back. It is borrowing money to pass out, until it has to be paid back."

That is, the national government borrwed $500B last year, paid it to the wealthy who saw it as a tax cut, and now we as a country will pay interest on that loan, and with the tax burden shifted toward the middle class, it is the middle class of this and the next generation who will have to pay back the estimated $2 Trillion in borrowed cash for the wealthy.

You know, I haven't heard the White House complain about "class warfare" yet, as they did in the previous election when Democrats complained about these "soak the poor" policies. Perhaps they're be afraid it would be taken up as a chant.

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