WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Porkulus FAIL

In a Friday evening news dump, the White House released a report that concludes that what we got from Obama's Porkulus was a lot of debt, and very few jobs.

4 comments:

ProfoundSkeptic said...

Given that more than a 1/3 of the stimulious package was tax cuts can we conclude that tax cuts are now not a stimulious to the economy?

wcv said...

Even if by "tax cuts" you mean cash handouts to consumers who don't even pay taxes, your statement would be a logical fallacy.

You may conclude that this Porkulus was an ill-advised epic failure except to the special interests who profited, but that doesn't tell you anything about well-designed, broad-based tax cuts which nearly all economists would agree are stimulative.

Doo Doo Econ said...

Tax cuts? Do you mean like the tax cut to private jet manufacturers that Obama signed then turned around and demonized?

Maybe you mean the extension to the existing tax rates? I suppose if you think the government allowed private citizens to keep more of its money then you could consider that a tax cut.

Dean said...

W.C., thanks for the link.

And were they technically tax cuts or just credits because I don't think there were any actual changes to the tax code, correct?

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