Sunday, December 19, 2010


This week, there was terrific news for the math-challenged when the Associated Press ecstatically proclaimed that the new Obama tax cuts "will save taxpayers, on average, about $3000 next year."

Wow! Who couldn't use an extra $3000?! Is this the greatest frickin' president of all time, or what?!

And of course, "or what" is the correct answer...or more appropriately, "wtf."

Because the recent tax bill, which the alleged president very reluctantly signed while wearing his frowny face, doesn't contain any cuts for income tax, and simply extends the current rates which were set by President George W. Bush. So the average taxpayer won't be getting any new cash flow whatsoever, and the $3000 "saved" is simply the money the Democrats weren't allowed to add to the average taxpayer's bill in the midst of an economic meltdown.

But according to the Associated Press, the "Obama tax cuts" represent a $3000 windfall for average shmoes, and this "significant new tax law" will also give tax breaks to those who are married, those who have children, and those who make keeping current rates exactly the same as they've been for the past 10 years.

So the "Obama tax cuts" aren't tax cuts at all. The "new tax legislation" isn't new. And the Associated Press isn't reporting real's simply spinning lies to cover Obama's rear end. Which, ironically, isn't news either.



Angry Hoosier Dad said...

Well before the election of 2008 we knew that the fluffers in the media would do whatever necessary to prop up the little POS. This was evident in the lies they promulgated and the truths they hid.
Nothing new here. Just further proof of their total lack of honor...of course they had wiped their backsides with whatever little honor they had during the Clenis administration and never looked back.

Suzy said...

I've been so sick of them complaining how much extending the tax cuts are going to increase our national debt, thus putting not-raising-taxes in the same category as obamacare and loads of wasteful spending and social programs!!!! Its by us keeping the money we earn, we are plunging America deeper in debt, so its all OUR fault?


Stilton Jarlsberg said...

Angry Hoosier Dad- The bald-faced nature of the news media these days is jaw dropping. Unfortunately, so is the capacity for many Americans to be spoonfed this idiocy and not catch on.

Suzy- Exactly; the government acts like they own every dollar in our pockets, and so it "costs" them to leave any with us. And by the same logic, the more you earn, the more it "costs" them if they don't take your money away.

Pete(Detroit) said...

"increase the debt"
They act like it's a revenue problem.
It's the SPENDING, stooooopid!

Anonymous said...

This tax cut extension argument has always been parsed as a reduction in rates and an addition to the benefit. Thanks media. Even the more conservative outlets had a tough time describing the extension. It's not that hard. This bill didn't raise the rates and the extension only adds to the deficit if Congress keeps spending at the rate they have been, unlike the unemployment benefits that actually are additional spending. In fact, not extending unemployment would be a good first step in reducing spending

Stilton Jarlsberg said...

nakedliberty(and others)- Another pet peeve of mine is the liberal line that "tax cuts for the rich won't create jobs," pointing at our dismal unemployment numbers. No...but unlike the Dems crazy spending sprees, the current tax rates undoubtedly saved jobs and at least maintained them at their current level. And increasing those tax rates would certainly have resulted in still more layoffs.

Hard to know whether the media and the left is more truth-impaired or math-impaired. Probably both.

pryorguy said...

The left side of the aisle is SO-O-O-O incensed that, as they say, passing the bill last week will add to the deficit...


'scuse me for yelling....thanks, I needed that!

pryorguy said...


Anonymous said...

Tell me, who is really surprised that AP is spinning the news to the benefit of Baracky Fife? It's either that or blame Bush. That's all they know any more.


Bobo said...
This comment has been removed by the author.
Bobo said...

Oops! In my humble opinion, anyone who actually believes they have more money in their pocket should have to pay taxes on it. That would shut the liberals up...or better yet, it would make them put their money where their mouth is.

John the Econ said...

Don't fall for it. It's a trap!

Although that taxes may not be going up next year is a good thing, it's not as great as you may think.

Our tax rates are now to be held hostage to a 2-year political cycle. One of the fundamental reasons that our economy is currently stagnated is because of unpredictability imposed by government. It will still be impossible to make long term business plans because in 2 years, business and investors will still have little certainty that the rug will not be pulled out from under them, and will continue to restrain expansion and investment as they have for the last 3 years.

The only real solution to our economic stagnation is either real tax reform, or making the Bush tax rates permanent.

John the Econ said...

Oh, and the reason it's a "trap"? Because many progressives know this. They're expecting that there will be minimal growth and continued high unemployment for the next 2 years, and into the next election cycle. They want to be able to scream "Hey look, tax cuts don't work!" at the GOP.

Stilton Jarlsberg said...

John the Econ- I totally agree. I would have preferred for the GOP to hold tough to make the tax cuts permanent. Come January, the House could have passed a bill to make all the cuts permanent...and then let the Democrats cope with the idea of rejecting it after having just raised the rates for every taxpayer in America.

These days, the word "compromise" is every bit as offensive (and outdated) as "bipartisanship."