Happy Tax Day
Here it is again, the day we’ve looked forward to all year. How do you like all this tax relief we’ve been enjoying for the past few years? It’s a good thing those tax and spend liberals aren’t in office any more.
If your income last year was over $1 million, your tax cut was probably around $112,000. Yeah! Dude! Then again, if you’re one of those lowly middle class types, your tax cut was apt to be a whopping $304. Whooooeeee! Don’t spend it all in one place.
Let’s see, the wealthiest Americans are getting 6-figure tax cuts, and our government is drowning in a sea of red ink that our greatgrandchildren will be paying for. (And that’s if we’re lucky enough not to have our country repossessed by our Chinese and Japanese creditors.)
Six-figure tax cuts being lavished on the wealthiest Americans during a record budget crisis — let’s see who’s taking up the slack…A lot of federal tax burdens are falling to the states — health, education, homeland security — and this is expected to cost state and local governments $185 billion over a 4-year period. As a result, local services are being slashed to the bone, while state, county and property taxes are going way up.
It’s a deal! I’ll take my $300 federal tax cut, and then sit back and watch while libraries and fire departments close and buses stop running. And in return my property tax and state income tax will shoot through the roof. Oh boy, this sounds too good to be true. OK, what’s the catch?
The Bush administration is financing these tax cuts by taking $500 billion from the Social Security Trust Fund. Wait — isn’t there supposed to be a Social Security crisis?!? Hmmm…the plot thickens…dots are being connected…Bush also borrowed an additional $500 billion from our foreign creditors, giving them an even stronger grip on America’s shorthairs.
For every $100 of your tax cut: $40 was borrowed from foreigners, $40 was taken from Social Security, and $20 was borrowed from Americans. Do you get the feeling that we’re all sitting on a house of cards?
There’s a Republican expression that “Democrats think every day is April 15th; Republicans think every day is July 4th.” I think that saying is a little outdated now, if there ever was any truth to it.