Bob Wise: “the New York Times today, and other newspapers, point out that the income disparity, that is, the gap between the…”

“the New York Times today, and other newspapers, point out that the income disparity, that is, the gap between the wealthiest, the poorest, and the middle class, is steadily growing; no secret to many working middle-class Americans. From 1968 to 1994, the rich were indeed getting richer, the poor poorer, and a lot of folks just are not moving anywhere. So what has been the response in the Gingrich-Dole budget that has passed this House and actually passed the Congress? First was to cut back the earned income tax credit for working families earning under $28,000. That means thousands of West Virginia working families will actually see a tax increase, not a tax cut. Oh, yes, I know about the $500 tax credit that is proposed. However, that will mean that one-third of low-income children will not see a benefit from that, and it will not offset the tax increase that many of our working families will see. Another response has been to cut Medicare for those who need it the most to pay for a tax break, many of the benefits of which will go to the wealthiest. That does not make much sense. Finally, for those trying to be upwardly mobile and get an education, the Gingrich-Dole budget would also rein in student loans. They are trying to cut the rungs off the very ladder people are trying to climb up.”