Tuesday, April 04, 2006

Goood Morning to the Mainland!

Everybody leads with Massachusetts Sets Health Plan for Nearly All. The NYT and the WaPo are ecstatic about it, but there is little concern about how it is going to be paid for. Some analysts say the overrun to subsidize it could be more than 700 million a year. Which Massachusetts hasn't got, of course. The other problem that is immediately apparent is that "It seems the bill would force individuals to buy very flimsy or expensive policies beyond their financial reach."

Slate points out that:

The NYT goes Page One with an in-house analysis of IRS data concluding that Bush's tax cuts for dividends "have significantly lowered the tax burden on the richest Americans." But of course super-wealthy Americans get super-savings from the investment tax cut: They're the ones who invest the most. The piece also offers hard numbers again and again—for example, those who make more than $10 million in a year saw an average tax savings of $500,000. What the story rarely does is give readers a more balanced picture, namely what proportion of income the super-rich are paying in taxes and how that compares with the not-so-rich.

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