Studies Shed New Light on Effects of Administration's Tax Cuts

[stevebreeze]

From the Center on Budget and Policy Priority;

Data from a CBO report released on August 13 indicate that the tax cuts will exacerbate income inequality by boosting the after-tax income of high-income households far more than that of middle- and low-income households.

The Economic Policy Institute finds that the number of jobs created in the wake of the tax cuts has already fallen 2.7 million jobs short of Administration predictions made in 2003.

EPI reports that through August, the economy has produced 1.6 million jobs since passage of the 2003 tax bill; this is just 38 percent of the 4.3 million jobs the Administration predicted would be generated over this period.


more... http://www.cbpp.org/8-25-04tax.htm

Economic inequality SLOWS growth. The Bush evil empire are actually making the economy worse for most of us to the benefit of the economic elite. <2 months thank goodness!

[wishlist]

1. A CNBC analyst yesterday said upscale stores will see good revenues

He said that overall retail sales are projected to rise 7 to 8% this Christmas compared to last. Maria Bartiromo skeptically asked him why that would occur when retail sales have been in a slump lately and he said that the retail sales increase will come from upscale stores that cater to higher end customers.

Before this 'expert' mentioned the upscale stores driving the increased sales, the thought crossed my mind that this could indeed be a very good holiday season if Bush gets kicked out and people are celebrating and spending more because of finally having some hope under Kerry/Edwards.