Just when IS the time to widen the income gap?
May 12, 2006
"This is not the time to be widening the income gap in America," says Sen. Olympia Snowe.
So, bad timing, not bad fiscal policy, was why Sen. Olympia Snowe voted yesterday (May 11, 2006) against a federal budget bill that contained $70 billion in tax breaks, primarily benefiting the rich. According to the Capitol News Service story by Mal Leary, Snowe said the timing was bad because of the current high costs for energy and health insurance now being paid by average-income Americans.
Second District Congressman Mike Michaud points out the average tax break for millionaires under this bill is $41,400, or $10,000 more than the average yearly wage for Mainers.
That would translate into a lot of home heating oil and health insurance for the average-income Mainer.
And compare Snowe's concern over bad timing with the response of 1st District Congressman Tom Allen.
"The Republicans are drunk on tax cuts for the rich. This is fiscally insane," Allen said.
I concur. No matter when it happens, it is bad fiscal policy to intentionally widen the income gap in America. But that's the Republican agenda.