Wednesday, January 23, 2008

Bush Tax "Rebate"

There has been lots of discussion lately on the proposed plan by Bush for a tax rebate, this is almost always is also mentioned with "tax relief for small business"
I'd like to make a few comments on the matter.
First, of anyone who is worth their salt is more than aware that trickle down economics don't do much but help the already wealthy.
Second, this rebate always mentions small business tax changes, what isn't mentioned is that small businesses are often used by the wealthy for tax breaks.
Third, the small businesses and hard working Americans that are romanticized when the rebate is mentioned are least likely to benefit.
Fourth, this is political move more than anything else. If blocked it will be used to say "See the Democrat majority thinks they know better what to do with your money" when in reality it is more likely wasn't going into your pocket and is great way to cut things that are needed like health care for poor children by removing a lot of money from the budget. If it is passed and the Democrats get the White House and maintain the majority they will suffer the ramifications.
Fifth, and this is the only part of this post that might be reaching a bit, is that the Democrats have been mopping the floor with the Republicans in raising election money and this could be scene as bribe during an election year to get more money in Republican coffers. I wonder when we'll see the encouragement of using the rebate to support your local Republican candidate.

Update:
I saw this quote on a Freakonomics blog post:
and I find it fitting

The types of crimes linked to this theory should be specified. I doubt white collar crime has dropped as a result of the legalization of abortions. As the effects of white collar crime on every aspect of American life is constantly downplayed, I suspect the argument would be less appealing to people if you defined which types of crimes were affected and what portion of the negative effects crime has on the quality of life is really reduced.
You night get mugged once in your life, but you pay for the tax loopholes for corporations every single year, guaranteed.
— Posted by Bitchin' Panda


and while I'm at it

Dear Rich People …


I'm willing to bet those most in favor of "fair" but not just form of tax changes are those most able to actually pay more to do their fair share.

and one more from Barbara Ehrenreich

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