Thursday, March 17, 2011

Class War Chart: Social Safety Net Vs. Tax Breaks For The Wealthy

The Center for American Progress produced the chart below showing the sacrifices that poor families, children, seniors, the unemployed and the homeless will make on behalf of the wealthiest Americans if the Republican House leadership's budget proposals are enacted. Those who may be called upon to sacrifice should be heartened by all the money and jobs that will then trickle down, just as they have been during the entire history of the Bush tax cuts.

Along with the chart, the Center added commentary and sources, which you can read on your own. I’ll just draw your attention to one point of comparison–one which I’m sure the Republicans will deem inconsequential. One the one hand, “Congress is considering cutting the Low Income Home Energy Assistance Program, the $2 billion federal program that helps poor families pay their winter heating bills.” Yet while the poor are shivering in their modest homes, they have the satisfaction of knowing that the money saved will help those who have a second home: “In 2011 the mortgage interest deduction will help families who purchase a vacation home avoid taxes to the tune of $800 million.”

Now look through the chart and see all the programs we’re giving up for $44 billion in order to extend $42 billion to the wealthiest. Why, we're just about breaking even, aren't we?

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