2 recent bits of tax news proves the upper 1% are shafting the rest of us.

[godhatesrepublicans]

http://www.nytimes.com/2006/05/16/business/16tax.html?ei=5087%0A&en=9be49bbf99115fa8&ex=1147924800&pagewanted=print

You can go to here and read how "IRA Swaps Could Cost U.S. Billions in Tax Revenue" Shrub is scheduled to sign into law tomorrow an extraordinary deal for high-income people with retirement savings accounts.
By paying $1 in income taxes before the taxes are due, these investors may be able to avoid future taxes equivalent to $3.50.
Those who do not take advantage of the opportunity to roll money into a Roth may think about the deal differently. The tax savings, like all of the Bush tax cuts, would be financed with federal borrowing, adding to the government's interest expense.

The short version; we'll be forced into borrowing trillions so people in the upper 1% can triple their money.

http://www.orlandosentinel.com/orl-taxbreak1206may12,0,7429720,print.story?coll=orl-home-headlines
And then here is an excellent account of the latest raping of the economy.

Sen. Charles Schumer, D-N.Y., the chairman of the Democratic Senatorial Campaign Committee, noted that Republicans decided to drop a provision allowing Americans to deduct up to $4,000 in college-tuition costs worth $4.5 billion. Instead, Schumer pointed out, Republicans included a tax break for oil companies worth $4.3 billion despite the industry's record profits. "This is the height of irresponsibility to drive this nation so deeply into debt, particularly from a party that used to pride itself on being fiscally conservative," said Sen. Dick Durbin, the assistant Democratic leader from Illinois. Republicans laughed when told that Democrats planned to use the tax bill against them in the elections and said they would be happy to have that debate.

"We're on the side of the taxpayers," said Sen. George Allen, R-Va., who is up for re-election. "They're on the side of the tax spenders."

Both of these news stories go to show my basic thesis is correct, that Republicans have no souls.

[RobertSeattle]

1. That IRA/Roth trick is a crime - so much for GOP "fiscal conservatism"

[sinkingfeeling]

2. "We're on the side of the taxpayers," said Sen. George Allen, R-Va...

What the honorable (or not) Senator meant to say was that Republicans are on the side of CORPORATE taxpayers.

[henslee]

3. Yikes.

They're onto us.