Volume 2 Issue 82
May 29, 2003
A More Sinister Motive
Why does the Bush Administration have such a short attention span, blasting away can help you, and Bill Clinton still wants to be President
As others have commented in recent days, it seems that the Bush tax cut plans (as they come in quick secession) are not "stimulus" packages like Bush claims, but rather a way of subverting government. After 9/11, and even before then, Bush had tempered the anti-government tilt of the Republican party that most recently had flared up with the Gingrich Revolution, though it had been around for years (at least back to Goldwater, arguably to Hoover). But while W may be saying one thing, he's clearly thinking another, as the administration has now become anti-government again with it's latest tax cut. Long term, the conservatives hope to undermine the entire government by making it bankrupt, forcing it to enact massive tax hikes (political suicide), or cut almost all social programs, such as Medicare, Social Security, not to mention the discretionary programs. Therefore, in the end, government will have still been destroyed, while Bush and his cronies will continue to praise parts of it until the end.
In fact, in the Financial Times this morning, there was a report (http://news.ft.com/servlet/ContentServer?pagename=FT.com/Sto ryFT/FullStory&c=StoryFT&cid=1051390392975&p=1012571727088) that the administration knows what they're getting into. Apparently the administration hid a Treasury Department study that warned that masisve deficits will force the government into default sometime in the next 75 years, as the baby boomers retire:
"The study asserts that sharp tax increases, massive spending cuts or a painful mix of both are unavoidable if the US is to meet benefit promises to future generations. It estimates that closing the gap would require the equivalent of an immediate and permanent 66 per cent across-the-board income tax increase."
So, why did the Bush administration not release the report? One of the authors says it was never meant for release, but the other says it was going to be included in the 2004 Budget document, but mysteriously was cut at the last minute. Regardless of the document's effect on the recent tax cut debate, someone eventually is going to have to deal with the problems outlined in the report, and until someone in government starts taking about fiscal responsibility again, that's not going to happen.
By the way, kudos to the FT for publishing their interview notes with the authors of the report. In an age where journalistic sources are in question, I found that rather interesting. They also publish a version of the report they obtained.
Going back to the tax cut for a minute, the New York Times today did some interesting research and found that poor people will not receive child income tax credits under the new plan, meaning that almost no one making under $50,000 will receive any real benefit from the Bush plan -
http://www.nytimes.com/2003/05/29/politics/29CHIL.html
Also, the Wall Street Journal today reported that the tax plan will INCREASE the number of people affected by the alternative minimum tax (AMT). The tax, originally put in to ensure people with low AGI's but high income levels paid taxes, has instead hurt large families that can take big child credit deductions, leaving some of them with huge tax bills. Considering this is one area of tax policy most reasonable people can agree on, you'd think the GOP would have covered it by now...
Onto the insanity...
A Half-Assed War, Part III: Once again, the US has declared victory before it has won, and now even more troops will have to go to Iraq to put down the resurgent Baathists. This means the total number of troops in Iraq could soon approach 300,000. Before the war, defense officials publicly lambasted an Army General who theorized that many troops would be needed for the occupation, calling it high -
http://www.washingtonpost.com/wp-dyn/articles/A53491-2003May29.html?nav=hptop_ts&nav=hptop_tb
Made for TV? The US is denying growing evidence that the Jessica Lynch rescue was staged for TV -
http://www.cbsnews.com/stories/2003/05/29/iraq/main556060.sh tml
But apparently the Lynch family is not allowed to talk about the rescue to the media -
http://www.washingtonpost.com/wp-dyn/articles/A53277-2003May29.html
Suddenly George doesn't see it in Black and White anymore: The US has apparently decided to overthrow Iran's government covertly, using a group currently classified by the US as a terrorist organization. Oh, so apparently they're only a terrorist organization if they don't agree with us. I see. So much for moral authority. In 20 years, are we going to be invading Iran to take out the dictator these guys install too? -
http://abcnews.go.com/sections/us/DailyNews/ITeamInsider.htm l
Legitimate fees or jacking up the charges? Surprise credit card rate increases to people that have never had credit trouble are a more common problem for many -
http://www.nytimes.com/2003/05/29/business/29CRED.html?pagew anted=all&position
Ah, that environment thing: The DC area is suffering from severe air quality issues, with increased driving and pollution from SUV's even putting the area on the verge of losing all its highway funding. So what will the local government do? Try to encourage less driving? Increase mass transit funding? Encourage private businesses to replace their trucks with cleaner models? No! They're going to go after that huge polluter...paint cans -
http://www.washingtonpost.com/wp-dyn/articles/A51214-2003May28.html?nav=hptoc_m&nav=hptop_tb
Kill, Johnny, Kill! Them shoot 'em up video games are apparently good for something after all...apparently they help increase visual attention skills. So schedule some extra time for GTA on your calendar -
http://www.nytimes.com/2003/05/29/science/29VIDE.html
No Mandate Left Funded: One topic of the Democratic Ballclub that is gaining traction among both Democrats and Republicans are the numerous unfunded mandates in the education legislation passed in 2001. John Edwards even says thinking about the bill makes him physically ill. And this man wants to be President? -
http://www.boston.com/dailyglobe2/149/nation/US_faulted_on_f unding_for_schools+.shtml
Look Who Still Wants to be President: Bill Clinton yesterday said that term limits for the President should be modified. Not that he'd run again or anything. Maybe it's so we can give Hillary a 3rd term -
http://www.boston.com/dailyglobe2/149/metro/Clinton_reflects +.shtml
http://www.washingtonpost.com/wp-dyn/articles/A50846-2003May28.html
Bad John Edwards Photo of the Day:
Agh! My eyes! There's flour in my eyes!
Are the Tories on the edge? A major accounting firm wouldn't certify the books of the Conservative Party, Britain's opposition party and the party of Margret Thatcher, because the party may not have enough money to remain viable -
http://www.timesonline.co.uk/article/0,,2-695928,00.html
