Monday, January 05, 2009

$300 billion tax cut? Now You're Talkin'

President-elect Obama has suggested a $300 billion tax cut targeted at businesses and individuals as part of his economic stimulus plan. I almost fell out of my chair when I read this because it seemed so against the grain of what Obama has been proposing all along.

It's too early to say Obama's finally got it right. After all, his prime motivator was to get Republicans to sign on to his plan, not because he suddenly got free market religion. Knowing this, we must be prepared to scour the details of these cuts and just how they will be implemented. And let's not forget the Wonder Twins, Nancy and Harry, who can take the shape of crippling spending deficits and the form of a massive entitlement program by simply bumping their fists together.

Stay tuned.

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