New York Times op-ed today..... "Bush's Class-War Budget" By PAUL KRUGMAN
"It may sound shrill to describe President Bush as someone who takes food from the mouths of babes and gives the proceeds to his millionaire friends. Yet his latest budget proposal is top-down class warfare in action...
First, the facts: the budget proposal really does take food from the mouths of babes. One of the proposed spending cuts would make it harder for working families with children to receive food stamps, terminating aid for about 300,000 people. Another would deny child care assistance to about 300,000 children, again in low-income working families.
And the budget really does shower largesse on millionaires even as it punishes the needy. For example, the Center on Budget and Policy Priorities informs us that even as the administration demands spending cuts, it will proceed with the phaseout of two little-known tax provisions - originally put in place under the first President George Bush - that limit deductions and exemptions for high-income households.
More than half of the benefits from this backdoor tax cut would go to people with incomes of more than a million dollars; 97 percent would go to people with incomes exceeding $200,000....
It's like that all the way through. " Read the entire op-ed here.
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