Bush Tax Cuts

No Budget is Better than the Senate Budget

The budget resolution approved last week by the Senate Budget Committee has nothing good to recommend it. It will hand more tax breaks to the extremely wealthy while slashing assistance to low-income working families and children. Funds for education, housing, the environment and a host of other services that benefit ordinary Americans will also be cut. Ironically, in spite of all these cuts, the committee?s resolution will increase -- not reduce -- the deficit.

read in full

Upper-Income Tax cuts and jobs

Feb 24, 2004 by Guest Blogger

President Bush is arguing that reducing the top marginal rate would "fuel" job growth.

The problem with using the top marginal tax rate as a tool to cut taxes on "small" businesses is that 1) it misses most small businesses - less than 4% of businesses make enough to be taxed at the top individual rate, and 2) it reduces taxes on upper income individuals regardless of the source income - thus it does not target businesses efficiently.

read in full

Budget Battles Loom

As the 2005 budget resolutions process gets on its way, spending for domestic programs could actually come out lower than the already grim projections set by President Bush’s budget proposal. Given that it is an election year both the president and Congress’ use of "spin" and shenanigans to mislead the American public will proceed. A big election year issue is budget deficits and the skyrocketing national debt – peaking now at $7 trillion.

read in full

Economy and Jobs Watch: Another Administration Projection Bites the Dust

Yet another economic projection by the administration is falling short – and in record time. Just a couple weeks after the publication of the Economic Report of the President, which forecasted 3.8 million* new jobs would be created in 2004, administration officials appears to be backing off the job estimates. The forecast was for 320,000 new jobs every month – a number most observers agree is exceptionally high. Job growth has not reached even half this level in any month over the past three years, according to data from the Bureau of Labor Statistics.

read in full

2005 Budget update

Feb 20, 2004 by Guest Blogger

Update in the Post about the current budget debate:

read in full

Watcher Newsletter, Feb 10

Feb 11, 2004 by Guest Blogger

OMB Watch - The Watcher - February 9, 2004 Vol.5, No.3 -

read in full

A Government Rollback

It is no secret that, after contributing to the deficit by huge tax cuts, a primary focus of this Administration now is decreasing the deficit by cutting spending, while continuing to reduce revenue by way of tax cuts. This will require massive cuts and eliminations of programs and services. It augurs a historically significant rollback in federal spending that if unchecked will fulfill conservative promises to reduce government to the barest of minimums.

read in full

Budget Process in the Service of Tax Cuts

It is important to remember the magnitude of the federal budget process on the outcome of community results. While budget process issues are often arcane and sometimes difficult to determine the affects on results, in the case of several of the president’s proposals, the purpose is very clear—to make tax cuts easier to pass and expansion of government services more difficult.

read in full