With all the problems that face our Country, the U.S. House of Representatives addressed tax cuts for the Rich:
GOP Forges Deal on Investor Tax CutsRelated to this is an excellent article in the New York Review of Books:
By ANDREW TAYLOR, Associated Press Writer
WASHINGTON - House Republican leaders are ready to move forward on tax breaks worth $70 billion over five years to investors and some middle-income families now that they've sorted out a disagreement among themselves.
The Rich and Everyone ElseReferred to in the article is the IRS Web site, which has the following statistic:
By Andrew Hacker
There is no question that the rich have been getting richer, especially in recent years. Yet what wasn't generally predicted is that the numbers of such people have been growing, with more of them better-off than in the recent past.
Number of people with gross assets greater than $1 Million:
It is this 3 1/2 million people for whom the tax break is directed.
This is at the same time that the Republican Congress is extending the debt that our children will have to pay off:
Another Possible Bump to the Debt CeilingOur House of the People's Deputies has become a den of thieves.
By Jonathan Weisman and Shailagh Murray
Tuesday, May 9, 2006; Page A21
A $2.7 trillion budget plan pending before the House would raise the federal debt ceiling to nearly $10 trillion, less than two months after Congress last raised the federal government's borrowing limit.