take my tax cut ... please

background 'entertainment': Lou Dobbs' Moneyline on CNN

Time Magazine has an article about the pResident's tax cut.

They rightly point out the folly and fallacies involved.

Here's an interesting point I have noticed in all accounts of what I, personally, will "save" under the new tax scheme: they assume that I will have in the vicinity of 15 thousand U.S. dollars in itemized deductions, and thousands of dollars in dividends as well.

Hey, Mr. Bush, I don't itemize my deductions! If I did, I'd be worse off come Tax Day than I am by taking the standard deduction. If I cheated, sure, I could probably come up with enough deductible items to make it worth my while. Sorry, dude, I'm not going to cheat on my taxes. I owe what I owe, and I pay it; I pay more in taxes than a a minimum-wage worker earns all year. This is not a problem for me.

On to dividends. The only dividends I earn are hidden within the intricacies of my 401(k) account. They are, by law, not taxable until I take my withdrawals from said account; I won't be eligible to take those withdrawals without penalty until sometime around the year 2030. There are no dividends in my yearly income right now, nor in the foreseeable future.

If BushCo really wanted to make more earned income flow into the marketplace, as he claims he does, he'd get rid of all income tax for wagearners who earn less than $50K per year. They need the break. I don't, and I know that people who earn more than me certainly don't.