Sunday, January 20, 2008

The consequence of all this anti-Tax rhetoric

Besides crumbling public infrastructure, is the absurd situation where cash stimulus to the economy is labeled as tax cuts. This is literally untrue. You see, from Clinton on there's been this thing called the "Earned Income Tax Credit" that applies to people making below a certain amount of money. A tax credit is great, right, because it means you pay less taxes? While this is technically true the catch is that the people getting the Tax Credit are paying very few taxes anyways, so the Tax Credit comes back to them as a check over and above what they paid in taxes. In other words, economic stimulus through giving people money has to be labeled an offset to taxes in our Orwellian land in order to exist.

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