Why? Because, of course, there's a huge budget deficit that we need to close!
And why is there a huge budget deficit? Because George Bush thinks graduated tax rates aren't fair, and wanted to give a big tax reduction to the very wealthy, who - good lord - pay soooo much!
I say thanks Mr. Bush. I work at a hedge fund, where we manage money for, among others, super-rich people. And our hedge fund (all hedge funds) has seen very large amounts of money come in during the last 3-4 years. The industry has pratically doubled, to $1 trillion! Hooray for us.
A housing bubble? Of course... it's more important for the super-wealthy to be able to buy 2nd, 3rd, and 4th homes than for disabled kids to have healthcare!
It's heartless. Truly heartless. Imagine if someone went on tv and said "This just isn't fair. We need the poor people to sacrifice more so the rich can have more luxury!".