The middle class HATES Bush more than ever

I love when my blog can give you an exclusive report on something, like my visit to the protest in Bridgeport on Wed (for which I made the front page of the Connecticut Post), or my Trip to the Jefferson Jackson Baley dinner in Hartford. Now I can give you some insight into how a cross-section of 750 people feel about Bush’s handling of the economy.

Sure, you’ve seen the numbers. Those who approve his handling of the economy are usually right down there with the general approval ratings, around mid 30’s to low 40’s. My dad does taxes for middle class workers, teachers, and retirees mostly. He has heard constantly complaints on Bush this year, unique to previous years. They complain that his tactics of pandering to big business has left them unprotected. While Bush supports exploding pays of CEOs, people get laid off if profits are down. Wages are generally stagnant compared to last year. I’ve personally seen this when I organize their files, looking at 2 year comparison reports.

The middle class is suffering the brunt of the tax shortfall. The estate tax has been repealed, capital gains taxes are down to 15%, interest income and dividends are down. Sure, a few of his clients benefit from this. But most of them are saving $35, or some insignificant amount. Most don’t have any significant interest income or dividends, and capital gains are rare. What is common though is the alternative minimum tax. This was a tax put in place to prevent rich people from avoiding taxes by taking excessive deductions. Because the tax is not adjusted for inflation, it is encroaching on the middle class with alarming growth. This means higher taxes for almost all of the middle tax, while small tax cuts land on the poor, and huge tax cuts affect the rich.

People. Are. Pissed.

Sure, he’s been terrible for years. But this is the first time my father has heard it from lots and lots of tax payers. This is how you get angry voters to the polls. This is how you keep angry Republicans from the polls, or to defect against their party. This has change election written all over it.

And to fix the problem, Menendez of NJ has proposed a bill to reform the Alternative minimum tax, instead of abolishing it. We need the tax revenue, but it should come from the rich. Bravo senator, just another reason I like Senator Menendez, after his awesome speech and rejection of Samuel Alito. Either way, this is something to pounce on, and will get those people usually agnostic in politics to the polls. I’ll get more info on this and tell you what should be done. But this is great, and unreported news.