Still solidly Bush

[Marvin Gandall <marvgandall@xxxxxxxxxx>]

Even by traditional Republican standards and despite Iraq, Wall Street is
engaged in an unprecedented drive to reelect George Bush, according to the
Washington Post.

Investment dealers like Morgan Stanley, who have profited hugely from the
administration’s first term dividend and capital gain tax cuts, are leading
the charge. “Those profits stand to soar higher if Bush is relected”, the
Post reports.

The administration is promising to enact what the Post describes as “the
most dramatic Bush tax proposal yet” - so-called “Lifetime Savings Accounts”
, or super-IRA’s which would allow wealthy families to shelter up to $30,000
annually of investment income.

But the real prize being sought by Wall Street is the partial privatization
of Social Security which would redirect billions into individual investment
accounts and away from the public system. The White House is anticipating
that this so-called “reform” of Social Security will be “the crowning
domestic achievement of a Bush second term”, says the Post.

Under Bush, the average tax rate on investment income has dropped to 9.6%;
wages are taxed at an average 23.4%.

URL: http://www.washingtonpost.com/wp-dyn/articles/A50364-2004May23.html
Also: http://www.supportingfacts.com

Sorry for any cross posting.