Thursday, May 11, 2006

Rape-uglicans pass wealth-fare tax bill

Their ship is sinking, going down faster than Jeff Gannon on a Rove-cicle; and all they can do is drag out the tired, beaten-to-death, disproven "tax breaks for the rich will spur the economy" bullshit.

The Rape-uglican Wet Dream Scenario is a perfectly regressive tax system: where the poorest of us pay 40-50% income tax rates and the wealthy pay nothing.

Viola! This wealth-fare tax giveaway gets as close to regressive perfection as possible:

Tax Graph

Senate passes final tax reconciliation bill -

"After months of debate and delays, Republican tax writers this week reached official agreement on the provisions of the bill, which is now estimated to cost $69 billion over 10 years by the bipartisan Joint Committee on Taxation.

With the exception of some popular provisions like AMT relief, many elements in the reconciliation bill have been sharply criticized by Democrats and some moderate Republicans. They contend some of the tax breaks, especially the extension of the investment tax rates, are too costly and benefit too few taxpayers - namely, upper-income ones."

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