Wednesday, February 18, 2009

"Tax cuts"

President Obama yesterday:
And about a third of this package comes in the form of tax cuts - the most progressive in our history - not only spurring job-creation, but putting money in the pockets of 95% of all hardworking families. Unlike tax cuts we've seen in recent years, the vast majority of these tax benefits will go not to the wealthiest Americans but to the middle class - with those workers who make the least benefiting the most.
I am getting really sick of hearing this myth advanced. There aren't any tax cuts in the stimulus package. Not one single tax rate is being cut. The only tax element in this bill are rebates, basically just giving money to people, including many who didn't even pay income tax last year.