No New Tax Cuts

On O'Reilly on July 8, 2011, Alan Colmes said -- in defense of Obama's fiscal policy -- that 40 percent of the 2009 stimulus was tax cuts.  If you look beyond this rhetorical flourish, you find that, yeah, there was 40 percent in things that the media called "tax cuts."  They mailed out $116 billion in $800 checks to individuals making under $75,000.  Fourteen billion in credits for green energy.  A college tuition tax credit for individuals making under $80,000.  An $8,000 check in the mail for first time homebuyers making under $75,000.  An increase in the earned income tax credit.  With "tax cuts" like these, who needs spending? Throughout the 2008 campaign, Obama bragged that he was for tax cuts -- specifically, mailing checks to his friends and constituents.  Obama is actually for keeping the Bush tax cuts, except for the "rich" (which I think this time is measured as singles making over around $170,000).  The cost of keeping the Bush...(Read Full Article)

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