Tuesday, January 29, 2008

"Toga, Toga, Toga": Baucus Parties with the AARP

Senate Finance Committee Chair has proposed a tax stimulus package of $156 billion. Compared to the Bush proposal, the Baucus proposal reduces individual tax rebates to $500 (or $1000 MFJ) and extends this rebate to Social Security recipients. In addition, certain unemployment benefits are extended, especially in states with unemployment rates exceeding 6%.

About the only good thing I can say about the Baucus plan is that it is not significantly more costly to tax revenues than the Bush plan. Inclusion of Social Security recipients, who in many cases have received far more than what they contributed (difficult to do in today's work force unless you live to 95 or so), is pure pandering to elderly voters.


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