Yellow Dog

From the AP: "Two-thirds of the $23 billion in tax breaks in the Republican-drafted energy bill will go to the oil, gas and coal industries."

This Wall Street Journal Article notes that the rich are benefiting from tax cuts most.

From the Seattle PI (9/27/04):

A Government of the Corporation, by the Corporation, and for the Corporation

“The most dangerous results from Bush's economic policies are those that have provided corporate America and the wealthy a disproportionately high share of the benefits and greater power at the expense of ordinary citizens.

Columbia University historian Alan Brinkley has written: "Since 1932, we have not had a president who has been more closely allied with business and more sympathetic to large and powerful corporations."

During the past three years, Bush's tax cuts have provided as much of his total reduction in income taxes to the top 1 percent of the population, whose average yearly earnings are $1.2 million, as to the bottom 80 percent. The middle class now has a larger share of the tax burden and faces a materially heightened threat to its long-term economic security.

Under George W. Bush, the United States has become a government of the corporation, by the corporation and for the corporation, to paraphrase Abraham Lincoln's Gettysburg Address. Such an entrenched plutocracy is totally incompatible with the form of governance created by the Constitution to support representative democracy.

This dimension of Bush's failed fiscal policies carries his performance into a different, frightening realm from his postwar predecessors. My overall assessment is that Bush's four-year economic record is not only the worst in the postwar era but also by far the most dangerous for America's future economic and political health.”
[Walter Williams]