Will the Bush tax plan result in greater levels of poverty?
By: Hank Kalet
William Julius Williams in The New York Times adds one more critical voice today to those questioning the Bush tax cut. And his take is important.
He says the cut is likely to reverse a decade-long trend and lead to a re-emergence of high levels of concentrated poverty.
The argument is fairly simple — and convincing. The less money there is for social programs in federal and state budgets, the less money there is to ameliorate economic woes, making them worse.
But that’s OK. The folks with the money will get to keep a whole lot more under their mattress.