I for one am glad that we are getting this tax cut. It should mean an extra 3 grand for me and my family. I am tired of paying out the ass in taxes.
-----Original Message----- From: William Wheatley [mailto:[EMAIL PROTECTED] Sent: Thursday, May 29, 2003 11:32 AM To: CF-Community Subject: Fw: What the Bush tax cut could have paid for Just passing along don't fry me up like a cat fish :) "When I came back from Korea, I had no money, no skills. Sure, I was good with a bayonet, but you can't put that on a resume - it puts people off!" Frank Barone, "Everybody Loves Raymond" ------------------------------------------------------ That $330 billion could have covered every uninsured person in the country and paid for millions of teachers and child-care workers. Instead it's going to the richest Americans. By Laura McClure and Mark Follman May 29, 2003 | This has been a trying week for those with math anxiety, not to mention anyone who, owing either to their fear of numbers or their lack of millions of dollars of disposable income, may be struggling to understand the impact of the tax-cut bill that President Bush signed into law Wednesday. White House press secretary Ari Fleischer, for instance, said the new measure, which includes $330 billion in tax breaks over the next 10 years, would create "more than a million jobs." Many economists dispute Fleischer's analysis, but even if it turned out to be true, given the overall job loss during Bush's administration -- 2.7 million jobs in the private sector alone -- it would still leave us in the red, job-wise. In fact, it is in the red where the really impressive numbers reside. The day before the East Room signing ceremony, in a move unembellished by ceremony, Bush signed a bill that allows the federal government to borrow up to $7.4 trillion -- a $984 billion increase in the federal debt limit -- to cover the tab for the tax cuts. This year's deficit, after surpluses during the last four years of the Clinton administration, already is expected to exceed a whopping $300 billion. According to Bush, the tax cuts will give tax relief to 136 million American taxpayers -- another impressive figure, but especially if you are the kind of American taxpayer who seeks relief from taxes on capital gains and corporate dividends. Some of the less advantaged -- especially those who have children, are married, or own small businesses -- will also get tidy sums. But universal relief, or even respite, is not part of this deal. Meanwhile, every dollar sent back to an American taxpayer, however deserving, is one less dollar that can be spent to meet the nation's ever-growing needs. To facilitate a better understanding of what kind of relief, other than tax relief, this kind of money could buy, we have listed the price tags for some of the programs and projects that comprise the nation's basic domestic wish list. With that $330 billion, for instance, the president could have funded health insurance for all uninsured Americans, erased all state budget deficits, completed Superfund cleanup at the nation's worst toxic waste sites, and funded Head Start for all eligible children -- and still had almost $40 billion left over for a rainy day. Here's an itemized list of things the tax cut might have paid for. They are diverse, pressing, some would say essential -- not just to low-income Americans, but to many citizens who, having had a choice, might have directed their billions elsewhere. Tax-cut total: $330 billion Amount needed to provide health insurance for all 9.2 million currently uninsured children for one year: $13 billion Amount needed to provide health insurance for all 41.2 million uninsured Americans, including children, for one year: $98 billion Amount needed to close state budget gaps across the country: $78 billion Amount needed to hire an additional 100,000 teachers to reduce class size, provide grants to repair 6,000 schools and assist with new-school construction, and provide additional math and reading help for over 9 million eligible low-income students: $300 billion Amount needed to end homelessness for chronically homeless people within 10 years: $1.3 billion per year to create and sustain 150,000 units of permanent supportive housing Amount needed by the Environmental Protection Agency to complete cleanups at high-priority toxic waste sites through the Superfund program: $92 million Cost of Head Start for all 1.8 million children, up to 5 years old, who currently need but don't receive it: $25 billion Cost of continuing to provide grants to potentially jeopardized regional poison control centers and maintain a toll-free poison information phone number between 2005 and 2009: $142 million Cost of USDA testing of 12,500 cattle samples for mad cow disease, in addition to homeland security measures such as physical security upgrades at lab facilities and background investigation of workers: $21.7 million Budgeted cost of continuing to enable states to meet energy emergencies due to extremes in temperature, either during severe cold weather in the winter or sustained heat waves in the summer: $1.7 billion Cost of measures to improve food safety in 2003, including hiring additional FDA inspectors, and developing new ways for federal inspectors to detect food-borne illnesses in meat and poultry and determine the source of contamination: $101 million Estimated homeland security costs for full support of state and local emergency personnel in their efforts to prevent and respond to acts of terrorism for three years: $12 billion Cost of providing housing assistance nationwide for victims of domestic violence from 2004 through 2008: $100 million Cost of hiring 100 new public-school teachers: $3.125 million Cost of hiring 100 state child-care workers: $2.08 million Cost of fully immunizing 100 children against preventable diseases: $64,433 Price of 250,000 new fire trucks: $56.2 billion Identified funding needs for community-based services in the care and treatment of HIV/AIDS in 2002: $2 billion Identified funding needs for HIV prevention and surveillance prevention programs at the Centers for Disease Control and Prevention: $1 billion Identified funding needs for HIV/AIDS research at the National Institutes of Health: $2.9 billion Estimated cost of funding Older Americans Act programs for seniors -- such as transportation, delivered meals and elder abuse prevention -- for 10 years: $39 billion Cost of providing needed assistive technology and durable medical equipment for 1 million individuals with disabilities for 10 years: $39 billion Cost of compensating federal employees called to active duty in the uniformed services or National Guard for the difference between their civilian and military pay: $89 million over the 2004-2008 period Yearly cost of direct treatment for mental illness in both the private and public sectors in the U.S.: $92 billion Estimated cost of spending for countermeasures against smallpox, anthrax, botulinum toxin, plague and Ebola under Project BioShield: $5.6 billion between 2004 and 2013 Cost of 60 million doses of an improved smallpox vaccine: $900 million Annual cost of providing services to foster children, including educational assistance, job placement, health services and room and board: $200 million Amount needed to establish a National Housing Trust to provide communities with funds to build, rehabilitate and preserve 1.5 million units of affordable housing over the next 10 years: $5 billion Cost, per recipient, of Job Corps, an education and training program benefiting disadvantaged youth and young adults: $17,000 Federal funding requested in 2004 to maintain the National Domestic Violence Hotline: $3 million Federal funding requested in 2004 for the national Abandoned Infants Assistance program: $45 million Cost of assisting states in covering the excess costs of providing special education services to children with disabilities: $8.9 billion Annual cost of providing funding to public libraries through state formula grants so that libraries can promote wider access to learning and information: $1.6 billion between 2004 and 2009 Cost of providing grants for treatment, counseling and referral for runaway and homeless youth subjected to sexual abuse in 2003: $15 million Annual cost of funding the National Center for Missing and Exploited Children: $20 million Sources: Children's Defense Fund Physicians for a National Health Program National Conference of State Legislatures Fair Taxes For All, National Education Association National Alliance to End Homelessness Natural Resources Defense Council Children's Defense Fund Congressional Budget Office United States Department of Agriculture Administration for Children and Families Food and Drug Administration Fair Taxes For All Congressional Budget Office Children's Defense Fund Children's Defense Fund Children's Defense Fund The National Priorities Project Human Rights Campaign Human Rights Campaign Human Rights Campaign Alliance for Retired Americans Fair Taxes For All Congressional Budget Office National Mental Health Association Congressional Budget Office Congressional Budget Office Administration for Children and Families National Low Income Housing Coalition Brookings Institution Administration for Children and Families Administration for Children and Families Administration for Children and Families Congressional Budget Office Congressional Budget Office 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