April 14, 2011

Taxation

Spending reductions in the tax code

Marc Comtois

I'm not the first or only one to note it, but it's worth noting that President Obama attempted to redefine a tax increase in his speech yesterday as a "spending reduction in the tax code".

The president also called for undoing the Bush tax cuts for upper-income taxpayers, and for canceling other tax cuts many of them receive such as the mortgage interest deduction — items that instead of labeling “tax increases” he called “spending reductions in the tax code.”
Actually, it's not too surprising given that PLDs* have been portraying tax cuts as "spending" for a while now. May as well be consistent.

*Progressives, Liberals, Democrats - take your pick.

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