On January 2003, President Bush proposed a financial plan that would cost taxpayers approximately $700 billion over the next ten years. In May, Congress had passed the plan, but reduced it to about $350 billion. Some of the major components of the package are huge tax cuts across the board including income tax, tax on dividends, and tax on capital gains, and a tremendous increase in national defense. The Bush administration argued that this package would help stimulating the economy by giving back money to businesses. Businesses would have more money and would spend it to hire more workers. However, this plan would benefit largely the wealthiest people in this country. It will only have a minimal impact on the job market drought, and it will not help the poorest people at all. The money spent on the war on terrorism is ridiculously wasted with the second Gulf War in Iraq. Meanwhile, the money paid to executives of corporations in America is still highly excessive. Even worse, those executives are involved in many corporate scandals instead of improving their companies" performance. The Bush administration has given big breaks for the richest people in this country, caused the federal budget to go deeper into deficit, cuts many public services, not helped the job market to recover, not adequately improved corporate governance, and not sufficiently handled the war on terrorism.
