Wednesday, February 11, 2004
An interesting article comments how republicans are moving to present the dieing Ronal Reagan as one of the great US presidents and preparing to compare his policies with G.W. Bush’s.
An interesting aspect among others is the economical policies comparison. Reagan cut taxes in the first year, but increased them in the following years trying to control the deficit. Clinton increased the taxes of the rich, cut the ones of the poor, ending with a surplus – presented by the republicans as a robbery – and a string economy. Bush II sank the economy and got the deficit out of control by three tax cuts equivalent to $1.9 trillions, with 54% of benefits going to the richer 1% of the population.
The sum is difficult to grasp. The results in around $353 thousand to each of the 1% individuals, while the remaining 99% got an average of $3000.
Still difficult to understand. With Bush’s tax cut, 99% of Americans saved $8 a day each. The remaining 1%, already having the highest incomes, saved $967 a day each.
Meanwhile one of them decided to put his tax reduction to good use.
