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December 09, 2005
Happy Holidays

To rich people, as another $56,000,000,000 (that's 56 billion) in tax cuts winds its way through Congress.

Making a total of $95,000,000,000.

Voting 234 to 197, almost purely along party lines, the House approved $56 billion in tax cuts over five years, one day after it passed other tax cuts totaling $39 billion over five years. The biggest provision would extend President Bush's 2001 tax cut for stock dividends and capital gains for two years at a cost of $20 billion.

Fifty-six billion dollars. How dow you pay for that? (Can you bring a political party up on charges of discrimination, negligence, and willful endangerment?)

The budget that the House passed just before Thanksgiving, would cut $51 billion over five years from programs like Medicaid, food stamps, farm subsidies and child-support enforcement. The Republican-controlled Senate passed a much more cautious tax package just before Thanksgiving. The Senate bill would cut taxes by $60 billion over five years, and it would not extend the tax cut on stock dividends.

In other news, legislators in Washington D.C. will be thrilled to learn that one of their favorite foods is now back in season. If they don't want to pay $111,000 for their own (single) white truffle, entrees start at a mere $135 at their favorite high-end D.C. restaurants. Call your favorite lobbyist for reservations.

Posted by AnneZook at 11:00 AM