First, this alleged "tax relief" only benefited the super-wealthy (only the top 1%, who make $374,000 per year already). Those who averaged over $1 million per year got $112,925 in tax breaks. Those who make $29,000-$46,000 per year, got $289 bucks. Real fair.
According to White House Press Secretary Ari Fleischer regarding why the upper half got the most while the poor got the least, he explained it this way:
"If you make $30,000 a year, and you pay, for example ,$2,000 in taxes and you receive a $1,000 tax cut, you just received a 50% cut in your taxes. A thousand dollars to someone who makes $30,000 a year means all the world to them. It's a huge difference in their life. Take someone who makes $200,000, and they pay $50,000 in taxes. To begin with, they pay far more in income taxes than others who earn less. To them, that tax cut won't change their life as much as it does somebody who doesn't earn as much. Their life will change more so, more beneficially, than someone toward the top."
So, if giving the people at the top money back doesn't really change their lives, why give it to them instead of to someone who really needs it? ESPECIALLY when we're currently in two extremely costly wars and we have a deficit estimated aroudn $455 billion dollars.
Over the next 9 years, these tax cuts are expected to cost the treasury nearly $2 trillion dollars. And yet, the government can't seem to find enough cash to give all citizens health care. Extremely fair.
To pay for these Tax Cuts, $500 billion was taken from the Social Security Trust Funds. That's part of America's social contract, that when you get old the government will be able to pay you Social Security. Or we'll give rich people the money and let you starve. Either one.
In short, these tax cuts are unnecessary and are bankrupting the treasury for
a group whose life "won't change" because of it. Think about it. Then get off you butt and complain to your Senators and Congresspeople.
Check out these links for more information:
The Bush Tax: How much is it costing you?
"Capital Games" - The Nation Magazine
Rep. Bernie Sanders - The Tax Cuts