Rolling back massive tax-cuts for millionaires is off the table, but the Bush administration has no qualms about raising taxes on average Americans. The 2006 budget President Bush submitted to Congress yesterday imposes $5.3 billion in new, regressive taxes. (They are conveniently listed in table 18-3 on page 317 of the Analytic Perspectives supplement to the budget). The administration’s budget contains new taxes that will increase the price of a six-pack of beer, an airline ticket and prescription drugs for veterans. Meanwhile, the budget cuts funding for education, public health and environmental protection and includes $1.4 trillion in new tax cuts for the wealthy. Welcome to Bushonomics.
Update: table 18-3 appears on page 317 when viewed with Adobe Acrobat, but on page 305 of the actual document.
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