NYT;
When President
Bush talks about an "ownership society," hold on to your wallet. The slogan, like "compassionate conservative" before it, is sufficiently vague to mean many things to many people, and the few details that Mr. Bush has provided - bolstered home ownership and new tax-sheltered savings plans - seem innocuous enough. But in tax terms, "ownership society" means only one thing: the further reduction, if not the elimination, of taxes on savings and investments, including taxes on dividends and on capital gains on stocks, bonds and real estate.
That, in turn, means - by definition - a shift in the tax burden onto wages and salary - or, put more simply, a wage tax.In the past nearly three years of economic recovery,
the distribution of economic growth has become more skewed than at any other time in modern memory. Currently, 47 percent of growth is flowing to corporate profits, by far the largest share during any of the other eight post-World War II recoveries.
Fifteen percent goes to wages and salary, the smallest share of economic growth in more than 50 years.To make matters worse, the share of compensation that is devoted to health and pension benefits is far larger during this recovery than any other,
representing a further squeeze on the wages and salaries of ordinary Americans. In 2004, take-home pay as a share of the economy dropped to its lowest level since the government started keeping records in 1929. http://www.nytimes.com/2004/09/15/opinion/15wed1.htmlAnd will many average Americans VOTE AGAINST THEIR OWN INTERESTS by voting for bush? Are there really Americans STUPID ENOUGH to do so?
Apparently so.