Read My Lips: The Tax Cut

February 10, 2001 --

Find Law: The President's Agenda for Tax Relief"

(You'll need Adobe Acrobat to view the document. If you don't have it, get it for free at Adobe).

"These are the basic ideas that guide my tax policy: lower income taxes for all, with the greatest help for those most in need. Everyone who pays income taxes benefits -- while the highest percentage tax cuts go to the lowest income Americans. I believe this is a formula for continuing the prosperity we've enjoyed, but also expanding it in ways we have yet to discover. It is an economics of inclusion. It is the agenda of a government that knows its limits and shows its heart." -- Resident George W. Bush


  Average Dollar Cut Share of Total Cut Tax Cut/Income
Lowest 20% $ 43 0.6% 0.5%
Middle 20% $501 7.4% 1.6%
Top 1% $50,166 36.9% 5.7%

Do The Math

Lowest Income Americans:

$43.00 divided by 12 months = $3.58 divided by 4 weeks per month = $0.89.

Middle Income Americans: $501 divided by 12 months = $41.75 divided by 4 weeks per month = $10.44.

Top Level Income Americans: $50,166 divided by 12 months = $4,180 divided by 4 weeks per month = $1,045,13.

"No matter how the benefits of the tax cut are measured, those at the top of the income spectrum benefit the most. Not only would the highest-income individuals receive by far the largest average tax benefit in actual dollars, the degree to which their taxes are cut in percentage terms would be larger than among any other group. The top one percent of the population would receive about 40 percent of the tax cuts from the proposal, which is double the share of federal taxes that they pay. In addition, the share of the tax cuts that would be received by the top one percent of the population significantly exceeds the share that would be received by the bottom 80 percent of the population combined." -- Center on Budget & Policy Priorities, by by Isaac Shapiro and Robert Greenstein

Bush Pats Corporations, Pads Rich Pockets (James Ridgeway, "Village Voice"): "Nearly one in every three U.S. families—would not receive any assistance from the tax provisions that President Bush is likely to send to Congress on February 8."

"My tax cut is not just about productivity, it is about people. Economics is more than narrow interests or organized envy. A tax plan must apply market principles to the public interest. And my plan sets out to make life better for average men, women and children." -- Resident George W. Bush

Looting the Treasury in daylight "Bush’s tax plan pads the wallets of his wealthiest supporters who did just fine, thank you, in the ’80s and ’90s." (by Eric Alderman, MSNBC)

[Note: Alderman's story link expired. 3-21-01 -- Starcats]


Social Security
Federal Reserve Bank
Ronald Reagan

The Federal Reserve Bank

The Federal Reserve Bank's progressed Sun is 29 Pisces, conjoined to the fixed star, Scheat, indicating (Anne Wright quotes Robson), "ambition, vanity, intuition, enthusiasm, caprice and bad judgment." and: " In medieval times it was said to indicate vain individuals with a great deal of ambition, but with very poor judgment." (The "Scheat" connection is also linked to Bush's insistence upon John Ashcroft for Attorney General). For as smart as Alan Greenspan is, his sanctioning of the tax cut (which will greatly benefit him personally) may not be his most prudent decision. Transiting Pluto will square his Neptune ruled Sun in 2001, thus calling him to pay the piper.

"Although presently it may seem that whoever is elected to the presidency in November would be unlikely to question Greenspan’s decisions, this may not be the case. Transiting Pluto (power) squares (challenges) his Sun (integrity) for the first time just after the new president takes office, indicating that changes in the nation’s leadership, the economy and/or public opinion are likely to present significant challenges to Greenspan’s strength, character and integrity. . . ." -- Pat Lantz, Alan Greenspan's Opus, Stariq.

The problem with this so-called "compassionate conservative" tax cut should be obvious. It has nothing to do with "the people." It is merely the Resident Select's payoff to special interest groups, private donors, and other GOP heavy-weights who financed his run for the presidency. I don't care how many calculators you punch, the numbers are the numbers, and the beneficiaries are the beneficiaries. I see nothing in Bush's tax plan (be sure and get the Adobe Acrobat document and read it) that could lead a sane person to conclude that the tax cut has anything to do with needy Americans. The GOP argument that those who pay the most taxes (the upper one percent) should, of course, benefit more doesn't square with: ". . . the greatest help for those most in need." [Bush quote above]. Look, either the tax cut is what Bush says it is to be -- help for the needy -- or it isn't. Obviously, it isn't.

For my GOP readers who want to throttle me daily:

Yes, Bill Clinton could use some due diligence on his fund raising perqs as well as an accounting on that furniture allegedly purchased by Denise Rich (Marc Rich's ex-wife) for the Clinton's N.Y. State home. A quid pro quo? Is there something funny about the Marc Rich pardon? Probably! But the bottom line? Don't email about Bush's tax cut until you can show me exactly how those who need it most will benefit. If you can't prove that the rich won't get richer and the poor will stay just as poor, I don't want to hear from you.

There Goes The Money

Neptune (the cosmic leaky fawcett), is the worst possible planetary player when it comes to dependable financial decision-making and long-term projections of stability. The Federal Reserve Bank, an organization created by the Jeckel Island Gang, and subsequently chartered via Woodrow Wilson's signature, has natal Neptune at 27 Cancer in its first house: "defrauding of the people."¹ The Federal Reserve Bank has been through at least 4 incarnations in the USA's history, one of which Thomas Jefferson vehemently opposed:

"I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." -- Thomas Jefferson -- The Debate Over The Recharter Of The Bank Bill, (1809)

The Federal Reserve Bank's progressed Sun on Scheat (29 Pisces) falls in Bush's progressed 7th house (18 Pisces on the cusp). Transiting Neptune is just shy of meeting Bush's natal 7th house cusp (7 Aquarius) giving him at least double the blindness. With a line-up like this, Bush should think twice before dipping into the Federal Reserve to pay-off his so-called friends while mentally masturbating the American public. Ronald Reagan tried the same tactic in the 1980's and sent the U.S. economy into a deficit tailspin that took 15 years to correct. That, along with U.S. citizens paying off the $150 billion lost in the Savings and Loan scandals perpetrated by the Reagan-Bush administrations obviously did nothing to help the poor. However, it is historical fact as to who benefitted from the last GOP tax cut and the junk bond trading of the late 1990's.

The bottom drops out in 2005, 2013-15 and 2020, the year of the Saturn-Pluto conjunction (USA chart, 27 Capricorn). The aforementioned years relate to the Baby Boomer withdrawals from retirement funds, social security and the stock market to fund a narcissistic retirement lifestyle worthy of the Pluto in Leo generation. (I'm one of them). With more going out than coming in, how do you plug the leaks should the unforeseen (war, famine, stock market crashes) erode (Neptune-Pluto) the so-called surplus? Bush's tax cut is based upon projected figures that may or may not materialize as planned. If it were your savings account, would you spend the money based on what you think you "might" have if you lived in a perfect world? If absolutely nothing were ever to go wrong??

Starcats' Official Currency: Top Reading on the Web!
Guaranteed to piss someone off!


¹ The voluminous history of the Federal Reserve Bank in its various incarnations is far too lengthy a topic for me to examine in this article. I encourage you to search the Web for related materials and draw your own conclusions.


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