About Me

Saturday, October 27, 2012

Surprise! Obama floats new tax cut trial balloon « Hot Air

Surprise! Obama floats new tax cut trial balloon « Hot Air: "When I wrote on Thursday that Obama was out of gas intellectually and politically, I had no idea that he would prove me right again so soon.  This is nothing more than the gimmicky approach that has utterly failed already under Obama — twice.  This is a regurgitation of the Making Work Pay tax cut, passed in 2009, which was supposed to touch off a boom in consumer spending by allowing people to keep roughly $20 a week more from their paychecks.  It’s also the same kind of approach as the payroll-tax holiday passed at the beginning of 2011, which was also supposed to boost consumer spending and kick-start the economy into high gear, and which has failed equally.  (And let’s not forget that George Bush tried the same kind of “tax cut” stimulus in early 2008, with exactly the same amount of success.)"

'via Blog this'

No comments:

Post a Comment