Bush’s Middle Class Tax Hike

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.