When A Tax Cut Isn't

Obama is promising lots of “tax cuts.” But what he calls a “tax cut” usually isn’t. He forgets to mention that most of his “tax cuts” are “targeted” tax cuts. That means if you do what HE tells you to do, you get one. If not, forget it. This is how he intends to “micro-manage” everybody he can. Others he is championing are TEMPORARY cuts. "Heritage [Foundation] experts assert that any realistic, practical plan to prime the economy’s pump must emphasize permanent reductions in income tax rates for individuals and businesses – not, as liberals advocate, one-time or short-term tax rebates and credits combined with upward of $1 trillion in deficit spending. Reducing tax rates on Americans’ income — such as President Bush’s 2003 tax cuts and those championed roughly 20 and 40 years earlier by Presidents Reagan and Kennedy – demonstrably creates incentives to work, innovate and invest. The evidence of history and decades of research bear this out." [Emphasis mine –RT] That's why Bush's $600 to everybody stimulus giveaway didn't work. It was a one-time payment most people used to pay existing bills or put into savings. (Heritage Foundation)