Some interesting facts and figures from The Independent [via a Gauche], including:
$127 billion: Amount of US budget surplus in the year that Bush became President in 2001
$374 billion: Amount of US budget deficit in the fiscal year for 2003
$23,920: Amount of each US citizen’s share of the national debt as of 19 January 2004
$10.9 million: Average wealth of the members of Bush’s original 16-person cabinet
88%: Percentage of American citizens who will save less than $100 on their 2006 federal taxes as a result of 2003 cut in capital gains and dividends taxes
$42,000: Average savings members of Bush’s cabinet are expected to enjoy this year as a result in the cuts in capital gains and dividends taxes
$42,228: Median household income in the US in 2001
$116,000: Amount Vice-President Cheney is expected to save each year in taxes
44%: Percentage of Americans who believe the President’s economic growth plan will mostly benefit the wealthy
I’ve been daydreaming lately about the upcoming Presidential debates, wondering if the eventual Democratic nominee will find the courage to really take Bush to task. When I daydream, I imagine the Democratic nominee saying something like this:
Kerry/Edwards/Dean: “Ladies and gentleman, I’m going to be perfectly frank here. Thanks to President Bush’s cut in capital gains and dividends taxes, I saved an additional $42,200 this year. Let me repeat that: While most of you were cashing your $100 refunds, I saved $42,200! I won’t embarrass President Bush or Vice-President Cheney by telling you how much each of them saved (although it’s in the public record).
“And you know what? I don’t need it. Which is why I donated that $42,200 to my favorite charities.
“If you believe President Bush when he says that his tax cut doesn’t benefit folks like himself and folks like me, well let me tell you something: you’re wrong. His tax cuts are wrong. And, contrary to what Vice President Cheney may have learned from President Reagan, deficits do matter!”
I can’t think of a better way to spotlight the real effects of Bush’s tax cuts. Of course, depending on how the pundits respond, this tact might blow up in the nominee’s face. But, man, I would love to see Bush’s reaction.