By
Lora J. Mackel
Ambition is a virtue that is to be admired. It should be especially admired in those who are not that bright, and Bush's tax ambitions have given America much reason to admire him.
Just as the country is beginning to have surpluses, Bush is proposing to cut taxes so much that economists insist the country will be in deficit spending by 2012. Even though there are budget surpluses currently, the Bush administration cannot give the $1.6 trillion tax cut they are proposing while making good on their campaign promises of education reform, increased military spending and privatized social security.
Not surprisingly, the Bush numbers do not add up.
You can not fault the guy for trying, but when you're a "compassionate" conservative, you're a bit over-extended. Compassion, in political lingo, equals money. Conservative, in the same frightening terminology, means you're miserly with federal money but try to put a moralistic spin on it.
It's no wonder that Bush will run the country back into debt. During his campaign, his appeal to the middle prompted him to make many expensive promises to Americans. In addition to his proposed tax cuts, Bush promised millions upon millions for school vouchers, those cool little space laser thingies, the rebuilding of our military and privatizing Social Security. All of these things take money, which will not be in the national coffers if the Bush plan passes.
Bush's tax-cut proposal, announced earlier this week, would cut federal tax revenues by 1.6 trillion dollars. His plan would also organize people into four brackets instead of five, with the lowest only paying 10 percent and the top paying 33 percent of their income. Additionally, Bush's proposal would phase out inheritance taxes and the marriage "penalty."
Tax cuts are certainly tempting, especially now that the economy is uncertain. As tempting as cuts may be, economists question whether we can afford them at the rate Bush has proposed.
After all the work that was done to recover from the Reagan-era deficit spending, does America really want to go down that road again?
Not only does the Bush plan have the potential to run the country back into crushing debts, there is also some question as to whether any bracket besides the top benefits. The top income bracket undeniably would gain the most, taking the most from the tax revenue. Money saved from the tax cut would buy a luxury car for the top bracket, whereas the lowest-income family would have 300 whole dollars to let trickle down.
Of course, there is the argument that all Americans should be treated equally when being taxed, or when receiving tax relief. The segment of the population that believes that government should be smaller and spend less needs no convincing that Bush's programs are a godsend.
But for the rest of Americans, government programs and government spending is seen as a necessary and productive social investment. If this tax plan passes, the programs that are working well - like our blessed college-loan programs - will eventually be threatened, as it is certain that even sacrosanct institutions like Medicare and Social Security will be raided.
It merits mentioning that Bush's campaign proposals are not the only government policies for spending and cutting pending approval. Congress will begin passing and spending money on their own programs. Tax cuts might be beneficial, but the nation should not pass them lightly. Too much is at stake, and the surpluses to which we have grown so accustomed are not guaranteed.
Bush and Congress should take a long hard look before cutting taxes or spending any more. If tax cuts continue in this way, the numbers will not add up.
