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Wealth gives the rich the motive and the means to buy the policies they want. The rich have succeeded in shifting the tax burden off wealth and onto wages. While the payroll tax has increased 25% in the last two decades, dividend and inheritance taxes have fallen 31% and 79% respectively. [See citations below.] Administration budget policies last year called for massive cuts in, among others, food stamps, aid to the disabled, children’s free school lunches, Medicaid and housing assistance. At the same time, $70 million in new tax cuts were pushed, primarily for the top 3% of taxpayers. What does this legalized wealth inequality mean to the 37 million US citizens living in poverty? Here’s what one person says about today’s broken promises. “Mrs. Smith” shared her story at a Western New York food pantry. “It’s very hard for us; my husband can only find part-time work. Sometimes he finds some money with under-the-table work. Our rent and utilities left us $30 last month. “And now it’s getting cold. We haven’t had heat or hot water for two months and I left the oven door open. They told me that if we can get help with the heat, there will only be enough money till December. “When our boy started school we didn’t have the money for what he needed and the school didn’t have it either. I don’t know what we’re going to do.” Sources for data and information Listed below are the primary source citations for information presented in the FAST 2006 brochure. While these represent the main sources utilized, many additional sources are available presenting similar information, especially regarding US poverty rates, tax cuts and their effects on social programs and increasing disparity of welth in the US. The rich have succeeded in shifting the tax burden... Administration budget policies... Last Updated:02/06/2006 |
