The Homa Files

Uh-oh.

Reid & Pelosi slashed Pres Obama’s pride and joy, the $500 refundable tax credit down to $400 per worker.

I used to make fun of the $500, pointing out that $1.37 per taxpayer per day wasn’t likely to jump start the economy

My hunch: odds are even lower at $1 per day … or, to be peresise, a buck and a dime per day.

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Pelosi and Reid also scratched the  GOP’s idea of a $15,000 tax credit on the purchase of a new home.  While I think it would have had a minimal impact, it was at least pay-as-you-go.  Credits could only be claimed when houses were purchased, and there was a cap on the amount.

Would have at least made Congress look like it was trying to address the housing problem.

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This entry was posted on February 12, 2009 at 8:00 am and is filed under Financial Crisis, Government & Politics, Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.