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Bush Tax Cuts Threaten Economy, Government Programs

In the coming weeks, Congress will be considering the President's proposed tax "giveaway" disguised as a "stimulus." Urge your Representative and Senators to oppose George W. Bush's irresponsible tax cut and phony stimulus package. Send an email by entering your zip code at the National Organization for Women website's Take Action!

Please make your voice heard as George W. attempts another round of tax cuts for the rich while working families confront high unemployment and a stagnant economy. Bush's $695 billion "tax cut"/"economic growth" package is purported to stimulate the economy, but many prominent economists say that the cuts will result in even more job losses and a deepened recession.

Background:

Bush has touted these cuts as providing a stimulus to our anemic economy, but Democrats and even some Republicans say that tax cuts will not provide a rapid enough trigger to re-start economic growth. Combining the proposed new tax cuts with making permanent the 2001 tax cuts plus the interest on the debt, the federal deficit is projected to total $2.5 trillion over the next ten years!

These huge tax cuts will result in an enormous loss of revenue that will plunge federal and state governments further into the red and require cutting many vitally important human needs programs. The resulting loss of revenue to the federal government will produce deficits of $304 billion this year and another $307 billion next year. It has been estimated that the total cost of the President's tax cut agenda rises to $2.5 trillion through 2013. If tax cuts are expanded and made permanent, our national deficit will spiral into the multi-trillions of dollars over future years, saddling our children with both debt and interest far into the future.

We need to make it clear to members of Congress that Bush's plan of more tax breaks for the wealthiest few at a time when everyone else is making sacrifices is bad public policy. Nearly 3 million workers have lost their jobs and we know that those who have been hurt the most are single mothers, women moving off welfare and low income earners.

action alert from NOW










 
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