The Needs of the Few Outweigh the Needs of the Many

Or in this case, What the Few Want, the Few Get, Regardless of What the Many Need. There are so many sentences and facts in this article from the NY Times that make me upset with our current administration.

1. "The first data to document the effect of President Bush's tax cuts forinvestment income show that they have significantly lowered the taxburden on the richest Americans, reducing taxes on incomes of more than$10 million by an average of about $500,000."
2. "Among taxpayers with incomes greater than $10 million, the amount bywhich their investment tax bill was reduced averaged about $500,000 in2003, and total tax savings, which included the two Bush tax cuts oncompensation, nearly doubled, to slightly more than $1 million."
3. "These taxpayers, whose average income was $26 million, paid about thesame share of their income in income taxes as those making $200,000 to$500,000 because of the lowered rates on investment income."
4. "The savings from the investment tax cuts are expected to be larger in subsequent years because of gains in the stock market."

Some lawmakers are showing some sense, though. Massachusetts has passed legislation that will make them the first state in the nation with 100% health care coverage. Let's hope that they have done their homework and passed a law that won't penalize the poor for being poor. And if it works, let's hope some other states take notice.

Maybe I should stop reading the newspapers on my breaks....