I thought we are on the precipice of crisis. Why wait until Spring to release this pittance of a payout. Think of how much you can do with an extra $13 in your paycheck every week!Unless, of course, you are too rich, rolling in the dough with your $70K salary, to need or deserve this tax "cut."
I'm guessing that when you heard Obama promise tax cuts for 95% of Americans during the campaign, you were expecting a bit more than a baker's dozen worth of Washingtons.
And those $500/1000 stimulus checks that were discussed? Think again. Unless you are on Social Security. And then, the amount was tamped down to only $250.
How can Michelle Obama afford new earrings with that little dough to throw around? You're getting $600 - what can you do with that? ..go out and you buy a pair of earrings, she said of Bush's stimulus payout last Spring.
The "stimulus" bill also contain some $20 billion for federal buildings and perks for federal employees. (Someone help me with the math; I attended one of those old schools where kids can't possibly be expected to learn.)
But, fear not. Obama has assured us repeatedly that there is no pork in this bill, right Sen. Reid?
Obama and Senate Majority Leader Harry Reid, D-Nevada., pressed for $8 billion to construct high-speed rail lines, quadrupling the amount in the bill that passed the Senate on Tuesday.Well, at least we know that Republican Arlen Specter also supports the bill for all the right reasons:
Reid's office issued a statement noting that a proposed Los Angeles-to-Las Vegas rail might get a big chunk of the money.
Specter played an active role, however, in making sure $10 billion for the National Institutes of Health, a pet priority, wasn't cut back.Enjoy your $13 dollars. That might be enough to take your family out to dinner -- assuming you go to McDonald's and stay on the Dollar Menu.
Maybe Pink Floyd will let us borrow their inflatable pig so we can fly it over the Capitol Building.
2 comments:
"This package will lead to higher consumer spending and increased business investment." -- GW Bush on the $11.53-a-week tax stimulus plan last year.
But seriously, does the largest tax cut in history not count because it doesn't come in the form of a check in your mailbox?
(Also, am I your only commenter?)
That didn't work either...
Besides, the rebates came in a chunk, which (in theory) should have sparked more consumer spending and pushed the economy. Where Obama's is literally $13 a week, which will not cause the typical recipient to alter his/her spending patterns.
And no, it doesn't count as it is poorly targeted and poorly distributed. The tax incentives for buying a car or house are capped at an income level many believe is too low for people to afford homes and new cars.
Obama's is not a tax cut, it is a tax payout or rebate. A cut is a reduction in taxation rates, which this is not. Maybe a semantic detail, but one that is important to consider.
Interesting that only one pundit seems to have picked up on this point you mention. I see this notion spreading faster than the Australian wildfires.
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