Wednesday, June 04, 2003

I’m watching Special Report with Brit Hume on Fox News and there was just a story about how the Democrats are criticising the President and GOP for not allowing their “tax cut” be a part of the one Bush just signed off on.

So here’s what their cut entails:

1. It’s a $400 child credit to the “working poor” - those who don’t make enough money to pay any Federal Income taxes.

Let me repeat that...they pay no federal income taxes. So this cut sounds more like a gift from the government to me, paid for by those of us who do pay income taxes.

2. The catch is that these folks do pay Payroll taxes (aka into the Social Security Trust Fund^TM) and so that’s how it qualifies as a tax cut. And the Dems claim that this would not be a tap on the SSTF.

Oh really? That’s exactly what it sounds like to me.