Need info/links on tax cuts for wealthy, current defecit numbers

[Nevernose]

Anyone help me out on this? I just had a discussion with a Democratic friend -- who still plans on voting for Kerry, btw -- who doesn't thinl there's enough money to pay for "all of the things Kerry proposed in his speech." He watched the speech on CNN, and his RW brother-in-law is a Navy pilot who thinks he knows everything, so my friend has questions.

My response is "get rid of the tax cuts for the wealthy and end corporate welfar and there'll be no more problem." However, I need some figures to back up my argument.

Anyone help me out on this?

[leftyandproud]

1. there really isn't enough money..

Kerry even admitted in his speech, that after he raises the taxes, he will "cut the deficit in half in 4 years" These are his words...In other words, this means he will reduce a $500 billion annual budget to a $250 billion annual budget by 2008...if he doesn't increase spending at all. The debt will be going up regardless of who wins...and if he wants to do any serious national health insurance thing, it will skyrocket, unless he boosts taxes on everyone, not just the top 2%

[Only Me]

2. Tell her Clinton did... and gave us about 7 trillion $ in 2 terms. But

http://www.census.gov/Press-Release/www/2003/cb03-153.html
http://money.cnn.com/2004/06/15/pf/millionaires/index.htm

Kerry was speaking about people that made over 200,000 ayear.
This is how many MILLionaires Bushco has made!!!!
Just think of all the wealthy people inbetween!
YEP! The money there.


Return of the millionaires

Report says number of new millionaires jumped 14% in 2003 as the U.S. emerged from recession.
June 15, 2004: 2:20 PM EDT



NEW YORK (CNN/Money) - They're back!

The number of millionaires in the United States surged 14 percent in 2003, to 2.3 million, according to the World-Wide Wealth of High Net Worth Individuals survey released Tuesday by Merrill Lynch and Capgemini.


"High net worth individuals benefited from a strong stock market rally and solid, global economic growth," said James Gorman, president of Merrill Lynch's Global Private Client group. "They were able to capitalize on these trends despite a great deal of geopolitical uncertainty."

In 2002, when the S&P 500 stock index dropped 22 percent, the number of high net worth individuals (defined as those with $1 million or more in investment capital excluding home equity) fell 100,000. The S&P rallied 28.7 percent in 2003.

Worldwide, a half a million individuals joined the millionaire's club, which topped 7.7 million. Their overall wealth topped $28.8 trillion, a jump of 7.7 percent over the year before.

The United States produced the most new millionaires but Hong Kong, at 30 percent, and India, at 22 percent showed the largest percentage gains. China, with a 12 percent jump in millionaires, was right behind the United States.
etc.,.etc.,...