Belmont Club

By Richard Fernandez

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The Library of Babel

August 18, 2008 - 5:53 pm - by Richard Fernandez
buddy larsen
2008-08-19 23:40:11

what’s sneaky are the ”refundable tax credits”, which are really direct distributions to the non (or nearly non) taxpaying bottom 60% from the taxpaying top 40%.

The innovation is to run this thru IRS rather than HHS, so that he can net it against the massive tax increases levied against that 40% minority, and thereby get a number which allows him to campaign as a “net tax-cutter”.

Two words: Orwell.