Bush Breaks "No New Taxes" Pledge

[kpete]

NYT: Bush breaks pledge made in 1999 to veto any tax increases

RAW STORY
Published: Saturday May 20, 2006

President Bush appears to have broken a pledge he made in 1999 to veto any tax increase bills, according to an article set for Sunday's New York Times, RAW STORY has found.

"The $69 billion tax cut bill that President Bush signed last week tripled tax rates for teenagers with college savings funds, despite Bush's 1999 pledge to veto any tax increase," reports David Cay Johnston.

In 1999, the conservative group Americans For Tax Reform convinced Bush - and the other candidates seeking the GOP nomination for president at the time - to sign anti-tax increase pledges (link).

"If I were elected president," Bush pledged. "I will oppose and veto any increase in individual or corporate marginal income tax rates or individual or corporate income tax hikes."

http://www.rawstory.com/news/2006/Bush_breaks_1999_pledge_to_veto_0520.html

[Viva_La_Revolution]

1. Why does he hate education??

bastid

:mad:

[Mr_Spock]

3. Because, the more people know, the less idiotic Repuke crap they believe

Republicans are all talk when it comes to education - they hate educated people!!

[BlueEyedSon]

6. He merely hates anyone not in the multi-millionaire class.

[Beetwasher]

2. And Of Course, This Is The WORST Sort of Tax Increase

Increasing it on some people who need tax breaks the most. Not surprising, but still vile to a degree that's almost unbelievable.

[Lefty48197]

4. Yeah, but they're only poor college students

When he said he was going to cut taxes for Americans, he really only meant for his rich friends.

[PatGund]

5. Not just college students.....

US citizens working overseas just got hit with the biggest tax jump in 30 years. We're being taxed on earning, housing allowances, just about everything. And, being expats, we have NO say or representation at all in the matter.

Depending on where the expat lives, they are looking at double and triple taxes - local country tax (if any), home state tax (if any) and US federal tax.

http://www.iht.com/articles/2006/05/12/news/expats.php

""This is the worst hit to Americans living abroad for three decades," said Eric Way, a tax specialist at the Federation of American Women's Clubs Overseas, who also works as a senior engineer in France for Volvo, the Swedish truck company. He estimated that Americans abroad who currently earn $20,000 in investment income could expect to see their U.S. tax bill double.

A single manager living in Paris who earns $75,000 and has his $3,000-per- month housing paid by his company would see his income tax bill rise to $5,110 from $600 because of the capping on tax exemptions for housing costs, Way said.

The changes, will apply to the 2006 tax year. They were introduced in a last- minute modification to the tax bill, which Senator Charles Grassley, Republican of Iowa, chairman of the Senate Finance Committee, helped to guide through Congress. In 2003, he played a key role in trying to eliminate the $80,000 exclusion on income earned by Americans abroad. Grassley called the exclusion an unnecessary "subsidy" and contended that it did little to increase U.S. exports. His efforts to repeal the tax break failed, however, following a corporate lobbying offensive that extended to President George W. Bush, who is expected to sign the current legislation."

[elehhhhna]

7. He jumped his DADDY' S shark! Wow.

[dogday]

8. Liar, Leaker and Thief

true to character.... Don't believe anything that comes out of these liars mouths....

[Skink]

9. These kids got to start paying their share back early....

Really how else can we keep cutting taxes for millionaires.

[Roland99]

10. Like father, like son. Except forty-leven times worse