Isn't it amazing that there was a big Obama tax cut and nobody noticed? I know they intended it that way to get people to spend and help kick start the economy but what a pity that people didn't realize the rather wonderful thing that they got. It would have helped the Democrats, but it's nice to know they put the country first.
Here are excerpts from the New York Times:
"...In a troubling sign for Democrats as they head into the midterm elections, their signature tax cut of the past two years, which decreased income taxes by up to $400 a year for individuals and $800 for married couples, has gone largely unnoticed."
"...Actually, the tax cut was, by design, hard to notice. Faced with evidence that people were more likely to save than spend the tax rebate checks they received during the Bush administration, the Obama administration decided to take a different tack: it arranged for less tax money to be withheld from people’s paychecks..."
You know... I do remember Art saying last year that he was puzzled at having received so much money back from our taxes. However, he didn't want to look a gift horse in the mouth and was just happy to have the extra money to spend... which we did using the (Obama) stimulus energy tax breaks for windows and solar voltaic panels.
It took 8 years for the economy to go down the tubes. It's going to take a bit more patience to see it get better again. It boggles my mind that so many people actually thought it would be corrected in the first year.
Heavy sigh...
I've heard of stealth taxes but never a stealth rebate. You're right about reforms - it takes more than one term to put things right. We're struggling with the legacy left us by the last Labour government - things are bound to get worse before they improve.
ReplyDeleteA heavy sigh here, too, Kay. No human being on the planet would be able to turn around in one year the economy President Obama inherited.
ReplyDeleteI'm with it. It's politics as usual just a new face to complain against...
ReplyDeleteBelieve me, there's a heavy sigh here as well! It's hard to believe that there are so many people who thought the mess made by the Bush Administration could be straightened out, repaired, cleaned up, turned around -- whatever, in one year or even two.
ReplyDeleteSylvia
I bet it's even longer........sigh.
ReplyDeleteSome friends of mine are Republicans. Hard to believe but they actually believe Sarah Palin is superior to Barack Obama!
ReplyDeleteI can't believe the number of people who are complaining about the Obama administration. Here in Canada we have a sneaky, underhanded, immoral prime minister who constantly publicizes himself as wonderful and honest, so people believe his publicity. President Obama is seriously trying to govern the country in the best way possible, and doesn't have the time or the money for self-promotion, so his good works go unnoticed. The heavily Republican reactionary Fox News has people believing the Obama government caused the recession. Duh.
ReplyDeleteThe right wing noise machine has really cranked it up of late, so reasonable voices are just getting drowned out. That is why Stewart and Colbert have become so important. Obama's wonkish reasonableness just doesn't register with most people, but comedy does.
ReplyDeleteWhatever works. I love the idea of their rallies for moderation and the American middle in Washington on Oct. 30. We are having a rally for sanity in our neighborhood on the same day, a potluck party.
You know Art is right, we did receive more back last year on out taxes. You are right about the economy, we should have more patience. When you are retired and on a fixed income, it is hard to be patient. Thank you for coming by, have a nice week.
ReplyDeleteThis is a topic that really bugs me too. I guess I'm especially annoyed by those idealistic young 'hopeful' voters who voted for Obama in the presidential election, didn't receive instant gratification, and are now "uninthused". Reallity bites, guys. Government policy is determined by POLITICS! Messes that are made over 30 years will take a long time to fix. So you'd rather turn the government back over to those who made the mess? Really?
ReplyDeleteGood post, Kay.
Kay, I love your blog header!! I love orchids and they look gorgeous with what you have done to make them look more like a painting! Just beautiful!!
ReplyDeleteI also love your blog header Kay, it's absolutely gorgeous! Very interesting post. Makes you think doesn't it?
ReplyDeleteYes...I am with you and with your other blog visitors...this mess was a long time in the making...now they expect magic....
ReplyDeleteI have beren boggled since the beginning that the economy is being blamed on Obama -- he just got there and this mess took a long time to create. He deserves at least as long to clean it up!
ReplyDeleteI totally agree with you - Bush left the country in a huge mess and it can't be corrected overnight. People need to give Obama time and a fair chance to fix things.
ReplyDeleteIf you do a little research on the net, you'll find indications that there are some who view the market crash in late '08 was a timed event by an outgoing party. Yes, it was the culmination of events set in motion right after Reagan got in, especially with regard to foreign policy; but it looks more and more like the welfare of the country was actually viewed as a tool by the right to manipulate public sentiment against the incoming dems. As I get older and more brittle in my sentiments, it only fuels my belief that all of it only underscores the inadequacies of our current system of election. Elected officials hold nothing more to their credit than being winners in a popularity race. Like in highschool. But not nearly so nice. And with not nearly as even a playing field. People do not vote based on research of past performance of an individual or party. They vote, primarily, by their perception of the innate character of someone they hear or see speaking on the TV or in print media. Ergo, people who present well (i.e., look good)and speak well, win elections. NOT necessarily people who are, oh, I dunno; qualified to lead? Have a general idea of how to run a city or state or country? Have an idea of how to manage decades-ingrained graft and legalized fiscal channeling between the senate and defense contractors? Or, have a clue about just plain decency. The polarization of resources between the strata of Americans continues to escalate. This does not bode well.
ReplyDeletewalt
You are absolutely right!
ReplyDelete