The $13 a week tax break we’re supposed to be thrilled about

Posted on February 11, 2009

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In yet another disgusting revelation about this abomination of a stimulus bill, we learn that Obama’s pet addition, the “Making Work Pay” tax credit, will be about $13 a week beginning in June, falling to about $8 a week in January. The Anchoress is hopping mad over the very trivial tax cut that we’re supposed to believe will hope usher in great new economic boom times. She should be mad, as Obama has signalled he wants to roll back the Bush tax cuts, negating this meager tax break and piling more on to the backs of taxpayers.

A further note: the $150 billion being spent on infrastructure projects will supposedly, according to Federal Highway Administration estimates on job creation from infrastructure spending, create 3.5 to 5 million new jobs. I don’t know if I fully trust those estimates, but even if I do, there are some things to consider – what kind of jobs are really going to be created? Jobs that can sustain a household, or $8 an hour jobs that can be held up as progress? Or are they going to be pork barrel jobs like the $300 million slated for so-called “green vehicles” that just happen to be exclusively produced by a North Dakota plant?

And here is the real issue – any potential gains will be dwarfed and overwhelmed by the other $700 billion in needless government spending found in the bill. The net effect will be back-breaking federal debt, leading to higher inflation and taxation. The cycle must end, but any signs for that hope have already been dashed by this nascent administration.

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Posted in: News, Politics