Notes on the Atrocities
Like a 100-watt radio station, broadcasting to the dozens...

Tuesday, March 25, 2003  

Tax Cut Cut

Ripping across the blogosphere is news of the President's tax cut:

WASHINGTON (AP) -- The Senate reversed itself Tuesday and voted to cut President Bush's proposed $726 billion tax cut in half, dealing a blow to the keystone of his economic recovery plan.

A week after refusing to do so, senators voted 51-48 to reduce the tax reduction's price tag to $350 billion through 2013. Bush has said his plan - which would eliminate taxes on corporate dividends and reduce income taxes - is needed to create jobs, boost investment and spur the slumbering economy.

It's a victory, but for whom? The spinmeisters are spinning. Atrios calls it advantage Democrats. But Dave Johnson and Ruminate This howl foul: three fitty's a pretty decent tax cut. Meanwhile, Ari Fleischer's still talkin big: "We'll see what the ultimate outcome is, if that vote is the final vote. They have many more to come."

But I think the real story is buried in paragraph 17:

Just Friday, the Senate voted 62-38 to reject a similar move to pare Bush's tax plan in half. That plan would have taken the additional money Bush wanted for tax cuts and used it for deficit reduction.

Let's see, last Friday. Oh right--back when everyone thought the war was going to be a cakewalk. When all the spinning is done, expect senators to look at the collapsing economy, out-of-work constituents, and insolvent states and then look at the war tally and quietly drop the tax cuts to nil.

posted by Jeff | 3:36 PM |
Blogroll and Links