Bush's Tax Cut Proposal

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With Fed Chair Alan Greenspan in agreement that the projected surplus is big enough to cut taxes and reduce deficits, even Democrats are jumping on the bandwagon. So where do we cut? Do income and "death" taxes penalize the wealthy? What about cutting from "the bottom" to give relief to modest wage earners who pay a comparatively higher tax? Why not use the surplus for social programs? We get valuable input from a handful of Washington watchers, including Robert Reich, former secretary of labor under President Clinton. Newsmaker: Tackling the Relief Effort in India - Initial relief efforts after India's devastating earthquake have focused on basic survival needs. Alfred Ironside, of the United Nation's Children's Fund, says UNICEF is working to help teachers identify post-traumatic signs in children and to create "child-friendly spaces" that provide these frightened children a much-needed sense of security. (Earthquake Relief Organizations) Newsmaker: CPUC Says SoCal Edison Funneled Billions (heard locally in Southern California) - A California PUC audit has found that Edison International harvested 4.8 billion dollars in dividends from SoCal Edison in the last five years. The transfer would have covered the massive bills that have put the utility at the brink of bankruptcy. Thomas Higgins is senior vice president of Edison International. Reporter's Notebook: Jimmy Carter Interview, Part II - Yesterday, we heard from Jimmy Carter on changing race relations in the deep south, one of the themes of his new best-selling book. He also spoke about two other issues close to his heart: the Middle East and the energy crisis. Not the kind of man to say, "I told you so," he does have plenty to say.
With Fed Chair Alan Greenspan in agreement that the projected surplus is big enough to cut taxes and reduce deficits, even Democrats are jumping on the bandwagon. So where do we cut? Do income and "death" taxes penalize the wealthy? What about cutting from "the bottom" to give relief to modest wage earners who pay a comparatively higher tax? Why not use the surplus for social programs? We get valuable input from a handful of Washington watchers, including Robert Reich, former secretary of labor under President Clinton.
  • Newsmaker: Tackling the Relief Effort in India - Initial relief efforts after India's devastating earthquake have focused on basic survival needs. Alfred Ironside, of the United Nation's Children's Fund, says UNICEF is working to help teachers identify post-traumatic signs in children and to create "child-friendly spaces" that provide these frightened children a much-needed sense of security. (Earthquake Relief Organizations)
  • Newsmaker: CPUC Says SoCal Edison Funneled Billions (heard locally in Southern California) - A California PUC audit has found that Edison International harvested 4.8 billion dollars in dividends from SoCal Edison in the last five years. The transfer would have covered the massive bills that have put the utility at the brink of bankruptcy. Thomas Higgins is senior vice president of Edison International.
  • Reporter's Notebook: Jimmy Carter Interview, Part II - Yesterday, we heard from Jimmy Carter on changing race relations in the deep south, one of the themes of his new best-selling book. He also spoke about two other issues close to his heart: the Middle East and the energy crisis. Not the kind of man to say, "I told you so," he does have plenty to say.

India Earthuake Relief Organizations

California PUC

CPUC's Audit of SoCal Edison

BusinessWeek

BW's "Selling The Tax Cut" article

Center of Economic and Policy Research

Credits

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Warren Olney