Wednesday, September 28th, 2005
Katrina Tax Breaks Help Rich Most
I suppose it was inevitable -- as the Associated Press reports, parts of legislation proposed by the Bush administration to help individuals and businesses recover from the devastation brought by Hurricane Katrina are likely to help those who are already affluent, rather than the neediest:
The Congressional Research Service report said some elements of the tax assistance would do more for wealthier taxpayers because many lower income individuals and families pay little tax. Lower income survivors are also less likely to have retirement accounts like 401(k)s and IRAs.
However, the same tax measure includes assistance specifically for lower-income families that would help the working poor hang onto their income tax credits, which can be disrupted by unemployment or family separation. . . .
To be fair, there are several parts of the legislation that would specifically target low-income victims of the disaster, and that this proposed legislation apparently has bilateral support. However, I still find it rather dubious to hear that affluent individuals and businesses may still get a disproportionate share of the relief provisions.
This follows on top of reports from CNN and others that contractors with close ties to the Bush administration are getting plum federal contracts to clean up the aftermath of Hurricane Katrina.
And of course, we can’t forget how the Michael Brown, former Director of FEMA who was forced to resign in disgrace for his completely inept mishandling of the disaster, was a political appointee of the Bush administration who had very little prior experience handling emergency relief operations.
Sadly, it’s like Haliburton all over again and another example of just how thoroughly corrupt this administration is.
Possibly Related Posts:
- Middle Class, not the Rich, are the Most Generous
- Special Benefits for MA Hybrid Cars
- Katrina Galvanizes Black America
- Rich-Poor Gap a Growing Issue
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