Friday, February 27, 2009

Isn't that Weird?

While Obama's first budget is aiming to stop the increasing inequality that has been characterising America since the Reagan days, Sithanen has been doing just the opposite here and shows no sign of slowing down.

Here are three facts to consider how he's been giving relatively more to the rich while impoverishing the middle-class and the poor. The first one is by ending progressive taxation in 2006. That in itself is a highly regressive move and its unfairness has been confirmed by an independent study. It's like a reverse tax revolution: the rich and super-rich hitting the jackpot. The next one is by clobbering a majority of our citizens with too high a rate of inflation. And the final one by not spending public money to solve a few of the problems that seriously exacerbate the "inequality of living conditions" (thanks Krugman!) of too many of our citizens: traffic congestion, non-interrupted water supply and non-competitive energy prices to name just three.

And of course, all of these combine in a vicious manner to bring the fabric of our society closer to tearing.

1 comment:

Samad Ramoly said...

It seems to me that you are providing empirical evidence to trickle-up economics (neocon response to the failure of trickle-down economics)!