Tax Cuts For the Rich

It’s true, the rich get all the tax breaks! My question is why does Ted Kennedy want Americans to stay in poverty, ensure that seniors won’t have medicine, that school children go hungry, the sick not to be healed, workers to lose their jobs …and their homes by taking tax breaks he doesn’t deserve?

You see, contrary to all logic and commonsense democrats somehow believe that tax cuts, that is, less money for government to spend, creates poverty. That Republicans are wicked and corrupt for passing tax cuts, "only for the rich." Which is why it seems strange to find out that Ted Kennedy feels entitled to his tax breaks but that other rich people are somehow selfish and greedy.

Sen. Edward M. Kennedy got hefty tax breaks on his $4.5 million Washington, D.C., mansion for at least two years - even though he never met the basic residency requirement for the deductions.

While Kennedy resides in Massachusetts, he received property tax credits in 2003 and 2004 on his home in a tony Washington neighborhood that were meant only for homeowners who call D.C. their principal residence.

Of 22 senators who took the deduction, Kennedy stood to save the most money in the coming tax year - about $7,700 off the tax bill for his $4.5 million home, according to a review by the Kansas City Star of tax and real estate records. bostonherald.com

"Home $weet home," indeed. Why does he take any tax breaks? He can afford not to. Why doesn't he just pay the tax he owes on the investments his father's money makes for him? Especially when, as he puts it, any tax cuts make America financially sick.

The American economy has deteriorated for more than two years, and the patient's vital signs continue to falter. President Bush and Republicans in Congress have responded by prescribing quack medicine – tax cuts for the wealthy that do nothing to cure the patient's illness. Even though the patient keeps getting worse, the President just keeps prescribing larger and larger doses of the same quack medicine, with a louder quack. vote-smart.org

I hope Ted can sleep at night with all those unearned millions of dollars under his mattress knowing that he is causing 'the patient' to get worse by holding onto his inheritance so selfishly. How long before the patient dies, Ted? Think maybe we could stop withholding 'the medicine' at some point and live like the working man you pretend to represent?

We can and should postpone a portion of the future tax cuts that overwhelmingly benefit the wealthiest taxpayers. Those tax cuts are not scheduled to be made until 2004 and later. We should put them on hold until we are certain that we can afford a prescription drug benefit for senior citizens, make the needed investments in education and health care, protect Social Security, and fully provide for the common defense.

...Future additional tax breaks for the wealthy do not deserve higher priority than strengthening education, covering prescription drugs under Medicare, or protecting Social Security, or meeting other urgent national priorities.
atr.org

No, I think not. The rhetoric and the reality are quite different things.

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Posted by Eric Simonson at May 12, 2005 3:33 PM