President Obama Records an Ode to Tax Cuts
From the BBC:
The tax cuts announced on Saturday are part of a $787bn stimulus plan that Mr Obama signed into law this week.
The plan, aimed at reviving the US economy amid a global economic crisis, is split into 36% for tax cuts and 64% percent allocated for spending on social programmes.
Mr Obama said the US treasury had already begun directing employers to reduce the amount of taxes claimed from pay cheques.
The savings will reach 95% of American families, he said.
"Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans," the president said.
First, let me preface what I'm about to say by saying that I'm relieved that Bush is history. With him in office, or under a president McCain, we'd have never even had a stimulus to debate about, at all. And, on a note closer to home, as a so-called 'dying' donor state, Michigan is particularly happy to be receiving billions of dollars to upgrade our forgotten infrastructure. Up here in this donor state we don't call this money coming to us 'stimulus' we call it simply getting what was supposed to be our's in the first place.
That said, I'd so very much appreciate our president refraining from 'hailing' the Republican part of this plan in place of the spending part, particularly in our current economic situation where tax cuts don't make much sense. This is especially important when one considers that even many right-leaning economists will conceed to you that if you're going to do a stimulus, at all, that tax cutting doesn't have nearly the same effect as spending, so its smarter to go with as much spending as one can get.
Now, this is not to say that he hasn't spoken of, and talked, up the real stimulus that is to come in the spending phase of this plan, but I just hope to see him hailing them more centrally and vocally as a positive than simply reducing himself to throwing out in front of the country the Pavlovian red meat that are tax cuts. While tax cuts are inherently bad things, to champion them at the same time we're spending like mad seems to not be the smartest frame to apply to a stimulus bill. The bill is not as much spending as it should be to begin with, so let's not champion the tax cuts over the spending, ok Mr. President?
God bless, him; he's trying, but it's rather unfortunate that anyone has to push him to sound like a liberal and a Democrat. Too many times, it doesn't seem to come naturally to him.
Words matter. Tone matters. Emphasis matters. It's because of this that I expect more than a typical Republican tone, emphasis, and lexicon on the economy when I listen to my Democratic president.
President Obama, you're more than welcomed to make your way up here to Michigan at the ribbon cuttings of completed stimulus projects and to hail them to the same degree (if not to a greater degree) than you hail the tax cuts in your plan. We'll be waiting for you.
Tax cuts are nice, but in this particular case, they are economic junk food. We're actually wanting to thank you more for the health food, that is the spending that will create and retain jobs, and we wish that we'd been given more of that than the cotton candied tax cuts.