In one of his last national weekly radio addresses, President Bush urged the American people to take time in the new year to help former giants from the worlds of banking, Wall Street and insurance who are newly less fortunate.
“Think of your fellow citizens who have trickled-down on the rest of you for the last three decades,” Bush said on Saturday.
“These are the good people who brought you lower pay, fewer manufacturing jobs, stagnant income, inferior health insurance, business consolidation, weaker unions, oil dependence, subprime mortgages, and the most expensive weapons systems money can buy,” he said.
The president went on to say that it would be wrong to forget the ex-rich, but is confident the country will help those impacted by the financial crisis. “Americans are the most generous people in the world. If they are half as generous with their money as my administration has been, this will be our country’s first suffering-free depression.”
“I know my fellow Americans will step up and help. Therefore, under the authority vested in me as taxer-in-chief, I have issued an executive order creating the Federal Fund for the New Poor.”
Bush said the fund will enable 95% of the American people to continue transferring their wealth to the remaining 5% beyond the end of his presidency.
The president announced that, on his instructions, the Internal Revenue Service has created a new system to collect revenues for the new fund.
Under Bush’s plan, a new option will appear on taxpayers’ 1040 and 1040EZ tax returns, underneath the familiar Presidential Election Campaign Fund check-off. The new option will read, simply:
Welfare For The Rich Fund: Check here if you, your traditional marriage spouse, children, grandchildren, great-grandchildren — you get the idea — want $1500 to go to this fund. Checking a box below will definitely affect your tax.
On Friday, President Bush flew over the U.S. economy to get a sense of the devastation.