(or, Why I'm Voting Democrat in 2004)
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Tax Breaks for the Wealthy, Layoffs for Workers
The choice to send nearly $200 billion to the top one percent rather than to state governments underscores just one way the federal tax cuts of 2001 and 2003 are actually "tax shifts," not tax cuts, for the vast majority of Americans.
In his recently approved tax cut, President Bush gave 37 percent of the new round of cuts to the wealthiest 1 percent -- and no tax cut at all to 50 million families, 36 percent of all households.
Only 24.3 percent of people making over $1 million will pay the tax by 2010.