Where Fun Comes to Die

A stimulus by any other name: $70B in tax cuts

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The New York Times reports $70B in tax cuts for the recently signed stimulus bill.  At recovery.gov, the new website intended to promote transparency by allowing taxpayers to track the stimulus spending, the cited number is $288B for tax relief.  Why the discrepancy?  By examining the fine print you can read that “tax relief” includes “$15 B for Infrastructure and Science, $61 B for Protecting the Vulnerable, $25 B for Education and Training and $22 B for Energy, so total funds are $126 B for Infrastructure and Science, $142 B for Protecting the Vulnerable, $78 B for Education and Training, and $65 B for Energy.”  It’s not clear why these figures were all lumped under “tax relief” instead of being under their respective categories, but it is certainly misleading.  But what is politics without a few misnomers?  “Operation Iraqi Freedom,” “Patriot Act,” and now “recovery.gov” with $288B in “tax relief.”  New regime, old rules.

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Written by wherefuncomestodie

February 18, 2009 at 12:21 am

Posted in Bailout, Politics

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