Bush Triples Taxes on Teenagers

Remember that huge tax cut for millionaires earlier this week, brought to you by Bush and the Republicans? The same tax bill triples taxes on teenagers who are saving for college, reports The New York Times (via). This breaks a pledge Bush made in 1999 to veto such a tax increase. Those are some fine Republican values on display — financial disincentives for saving money for college, while giving more money to those who already are wealthy. That’s the modern Republican party — Robin Hood in reverse.

Just remember when it comes time to vote and some Republican tries to tell you that Democrats will raise taxes, that if the Dems try to raise taxes, the Democrats will distribute that tax raise much more fairly. Remember also that the Democrats will try to avoid the stealth tax hikes of the Republicans who have run up a massive federal debt. The Democrats will also provide actual competent services for people.

Update (5/21/06): Bush caught lying about how the tax cut for millionaires will bring more money into the US Treasury. (via)