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From: notes@iuvax.UUCP
Newsgroups: net.politics
Subject: Reagan Hood - (nf)
Message-ID: <304@iuvax.UUCP>
Date: Mon, 9-Apr-84 01:06:35 EST
Article-I.D.: iuvax.304
Posted: Mon Apr  9 01:06:35 1984
Date-Received: Wed, 11-Apr-84 06:16:21 EST
Sender: notes@iuvax.UUCP
Organization: Indiana University
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#N:iuvax:2000018:000:1593
iuvax!scsg    Apr  8 10:18:00 1984


The Congressional Budget Office just completed a study based upon the
actual effects of Reagan's economic program.  The figures demonstrate
that Reagan's program has indeed given to the rich at the expense of
the poor.  Moreover the Federal Government lost far more money from
tax cuts benefitting primarily the rich($93.6 billion),
than it saved from all changes in benefit programs( $23.1 billion )
Is it any wonder Reagan is leading us into bankruptcy?
Here is how this Robin Hood program for the rich stacks up:
-------------------------------------------------------------------
Income            <$10K     $10-20K   $20-40K   $40-80K    >$80K
-------         --------   --------  --------  --------   --------
Tax cuts         $  20       $ 330     $1200     $3080      $8390
lost benefits     -250        -210      -130       -90        -90
 (cash)
lost benefits     -160        - 90      - 60       -80        -40
 (noncash)
-------------------------------------------------------------------
NET GAIN,LOSS    $-390         $30     $1010     $2900      $8270
 
Is this fair?
It is futile to shift the blame to Congress on this issue.  Reagan
wholly supported this "soak the poor" scheme--the fact that he and
wealthy lobbyists twisted enough arms of conservative Democrats to
pass this scheme is hardly an absolution of responsibility.
I deplore the fact that some conservative Democrats voted for such
a blatantly unfair program--they should not be re-elected.  But Reagan
proposed it and fought for it tooth and nail.
 
tim sevener
Indiana University, Bloomington
pur-ee!iuvax!scsg