Tuesday, January 6, 2009

Ed Morrissey on “The hypocrisy of Obama’s tax ‘cuts’”

Hot Air blogger Ed Morrissey lays into President-elect Obama's plans to rebate Social Security payroll taxes to help stimulate the economy – but without affecting the trust fund. This reminds Morrissey of the reform debate in 2005, in which President Bush proposed allowing workers to invest part of their Social Security taxes in personal accounts, and would transfer general tax revenues to the trust fund to make up the difference. Morrissey points out – correctly – that many who now support Obama's tax cut attacked the financing of Bush's reform plan, although the two are really pretty similar. I hit on some related points in this Wall Street Journal piece from a while back.

In any case, Morrissey's post is well worth checking out.

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