May 02 2003
Alarm Clock
Remember Reagonomics? That was nothing. Bushonomics is now here!
If Bush & Co. have their way, the 40 hour work week will soon be history. Your employer will not have to pay you overtime for working more than 40 hours in a week. They will be able to substitute “comp time.” In exchange for the extra hours you work, they can opt to give you time off work at some time in the future. The time off will be at their choosing, and could be delayed for more than a year after you put in the extra time.
Is it any wonder big business absolutely loves this guy? Now you understand why they pump so much money into his campaigns.
And the “tax cut” he is pushing for? If you’re rich, it’ll be a good deal. If you’re a member of the working class, you won’t benefit much from it.
Most noteworthy is President Bush’s stimulus plan. The plan is essentially one big tax cut for the rich, mainly coming through the dividend tax cut. The president essentially argues it is unfair to tax corporate dividends twice – once as corporate profits and again as taxable income of shareholders. A reasonable rationale, yet the Administration fails to explain that the income workers actually labor for is taxed at least three times through income and payroll taxes when we earn our wages and through sales tax when we spend it.
Moreover, the Administration argues that its stimulus/tax cut package will pump the economy full of cash by giving it to the investor class. But this taxes logic. Why would any logical business owner or investor throw his money into an economy marked by low consumer confidence and minimal demand? No confidence translates into low demand that causes low sales, declining profits and hence little return on investment.
Here’s the full story.
I hope America is paying attention, but I doubt most are. They are too infatuated with this cowboy for having “won” a war (as if there was ever any doubt as to the outcome of that invasion).
It’s time to wake up, America! The alarm clock has been sounding for quite a while now.














