Saturday, April 10, 2010

What about the Bush...I Mean Obama Tax Cuts...You know, the ones you got but didn't know about.

Finally, Obama is taking the time to brag about the administrations middle class tax cuts, you know, the ones no one knows about. If this were a Republican administration, we would have all been required to tattoo a reminder on the palm of our hand. But as usual, this important election year message has to pass through the conservative media filter, and it came out like the following from the Wall Street Journal:
President Barack Obama said that Americans who have filed their taxes so far have discovered the average refund has risen 10% this year to an all-time high of $3,000 because of 2009's Tax Recovery Act. "In fact, one-third of the Recovery Act was made up of tax cuts -- tax cuts that have already provided more than $160 billion in relief for families and businesses, and nearly $100 billion of that directly into the pockets of working Americans," the president said.
In the GOP's weekly address, Sen. Jon Kyl of Arizona focused on Bush tax cuts that are set to expire at year's end, and the price of recently passed health-care legislation in a time of record deficits. "Under current law, unless Congress acts, taxes will rise dramatically on Dec. 31," Kyl said. "Taxes will increase on families with children, on married couples, on income, on capital gains and dividends, and even after death. It comes to a total of $2 trillion in new taxes over the next 10 years. And that doesn't include the more than $500 billion in new taxes in the health spending law."
The Wall Street Journal's Market Watch failed to mention that some middle class tax cuts won't expire, as Kyl tried to insinuate.

An oversight?

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