Pag* A4_________________________________________ (Ü lje J J o r t l a n b ( D h s e m e r ____________________________________ June 19,2002
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Tax Cut is Morally and
Economically Wrong
Richest taxpayers will reap billions,
while not a dime goes to childcare
in tax cuts o ver the decade.
A m ericans w ith average incom es over a
The tax cut keeps skyrocketing for those at
m illion dollars will be handed an astonishing
the very top. By 2010 it grow s to give the
$ 121 billion in tax cuts in the year 2010 alone —
wealthiest taxpayers average tax cuts 180 times
m ore than all the rest o f A m erican taxpayers
bigger than the tax cuts for the bottom 60
com bined— according to a new analysis o f the
percent o f Americans earning less than $59,000
2001 Bush tax cut issued by C itizens for Tax
a year.
Justice and the C hildren’s D efense Fund.
By 2010, w hen (and if) the Bush tax reduc
“It is m orally w rong and econom ically irre
tions are fully in place, an astonishing 52
sponsible for the Bush A dm inistration and
percent o f the total tax cuts w ill go to the
som e in C ongress to say w e cannot afford to
wealthiest one percent w hose individual w ind
provide m ore children a H ead Start this year or
fall in that year alone will average $85,000.
a single new dim e for child care for children in
Repeal o f the estate tax on very large estates
w orking fam ilies over the next five years while
accounts for $50 billion o f the total $ 121 billion
lavishing billions in new tax cuts for m illion
tax cut for the rich in 2010. A w hopping 91
aires and m ulti-m illionaires,” said M arian
percent o f the estate tax cut in that year goes
W right E delm an, P resident o f the C hildren’s
to the top one percent.
D efense Fund.
A freeze on the tax cuts
“2 006to 2010 are the scan
T h e ta x c u t k e e p s
scheduled in the years ahead
dal years o f the tax cut,”
for the very wealthiest Am eri
a c c o r d in g to R o b e rt S.
s k y r o c k e tin g f o r th o se
cans
could provide crucial new
M cIntyre, D irector o f C iti
a t th e v e ry top. B y
investm
ents in early child
zens forT ax Justice, w hodid
2
0
1
0
it
g
r
o
w
s
to
g
iv
e
hood,
education,
and health
the year-by-year analysis o f
fo
r
o
u
r
ch
ild
re
n
an d o u r
th e w e a lth ie s t
the tax cut. “For the top one
n
atio
n
’s
future.
It
w
ould al
percent, the vast m ajority o f
ta x p a y e r s a v e r a g e ta x
low
our
country
to:
the Bush tax cuts w o n ’t be
c u ts 1 8 0 tim e s b ig g e r
■ Provide early childhood
phased in until after 2005. In
th
a
n
th
e
ta
x
c
u
ts
f
o
r
program
s for every child who
c o n tr a s t, 9 9 p e rc e n t o f
needs
them
to get ready for
A m ericans have already re
th e b o tto m 6 0 p e r c e n t
school.
ceived alm ost all o f w hat
o f A m e r ic a n s e a r n in g
• Im prove educational o p
th ey ’ 11 get from the Bush tax
le ss th a n $ 5 9 ,0 0 0
portunities for all children by
cuts. Since the tax cut is al
ready essentially frozen for
a year.
% decreasing class size, im prov
ing teacher quality and ac
m ost o f us, w hy not extend
co untability, and repairing
the freeze to the top one
crum bling school buildings.
p ercent too?”
• Ensure health coverage for all o f our 9
A lthough it w as w idely understood last
million uninsured children, 90 percent o f whom
year that the Bush tax cut plan w ould dispro
live in w orking families.
portionately help the w ealthy, inform ation
• C reate a fairer fully refundable child tax
about the share o f the rising tax cut going to
credit that reaches all poor children and lifts
the top one percent in later years w as not
ov er a m illion from poverty.
available w hen the P resid en t’s tax cut bill was
• S p a re th o u s a n d s o f c h ild re n fro m
being debated. T his new analysis, w hich looks
hom elessness.
at the annual effects o f the Bush tax cut over
• Free m illions o f struggling w orking fam i
the next decade, show s the true extent o f the
lies from fears o f h u n g er an d ev ictio n by
unjust giveaw ay to the w ealthiest, m aking it
p ro v id in g jo b tra in in g and o th e r w ork su p
one o f the m ost lopsided tax cuts in history:
p o rts.
From 2001 to 2010 the w ealthiest one per
“T he B ush ad m in istratio n ’s w ords say
cent o f A m ericans w ith average incom es over
‘L
e
a v e N o C h ild B e h in d .’ T h e B u sh
a m illion dollars w ould pocket alm ost a half
A
dm
inistration’s deeds say ‘leave no m illion
trillion dollars from the Bush tax cuts. Each
aires
behind,” ’ said Edelm an.
m em ber o f this elite group will average $342,000
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