As recent history has shown, when you give tax cuts to the people who create jobs, it stimulates the economy. Tax relief is good thing, but unfortunately, according to an AP story this morning, a deal has been reached over the issue of tax rebates for economic stimulus which includes give rebates to those who weren’t paying taxes… in other words: welfare.
Democratic and Republican congressional leaders reached a tentative deal Thursday on tax rebates of $300 to $1,200 per family and business tax cuts to jolt the slumping economy.
Congressional officials close to the negotiations said House Speaker Nancy Pelosi and Republican Leader John Boehner of Ohio reached agreement in principle in a telephone call Thursday morning.
The officials, speaking on condition of anonymity, said the two wanted key members of their parties to sign off on the accord before any announcement.
The accord came as the White House said Thursday an agreement was imminent.
Pelosi, D-Calif., agreed to drop increases in food stamp and unemployment benefits during a Wednesday meeting in exchange for gaining rebates of at least $300 for almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes
Tax relief should go to those who pay taxes. While I understand that if we want any kind of tax relief and economic stimulus that we’re going to have to make some compromises with Democrats who care more about giving handouts than fixing the economy, but let’s face it, if a recession is on the horizon (and that’s debatable) we should look at what kind of tax relief has worked in the past… The Bush tax cuts that targeted job creators worked very well…
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