Word: taxed
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...Perhaps, then, it was a mistake to give even passing mention to a horn-tooting list of favorite achievements, like education reform, tax cuts and the expansion of Medicare. Maybe he was right to pass by the collapse of the economy with less passion than he devoted to the story of the father of a Marine killed in Iraq. He could hardly be accused of making a big deal about nonwar matters when he summed up the current crisis in a single sentence: "These are very tough times for hardworking families, but the toll would be far worse...
...Tax Return. The countdown to tax day has begun. To ease your inevitable pain, the San Francisco-based hotel chain Joie de Vivre will pay guests' occupancy taxes at any of its 30 hotels in California through April...
Obama's second strategy will be giving money to people - through tax cuts as well as food stamps, jobless benefits and health care for the unemployed. Direct transfers are the fastest way to ship money out of the Treasury, but they don't provide stimulus if they don't get spent. That's what happened last year to a $168 billion stimulus package that relied on income tax rebates - remember when $168 billion was a big deal? - but foundered when many recipients hoarded the cash or paid down credit-card debt. It turns out that smart personal-finance decisions make...
...best way to boost the economy by giving away money is to give it to people who can't afford to save it. That's why food stamps work so well as a stimulus. And that's why Obama is pushing a permanent $500-per-person credit on payroll taxes for every worker making less than $200,000 a year. But his rationale for broad-based relief goes beyond stimulus: he has repeatedly promised a fairer tax code that would make work pay for everyone, and this might be his last chance to play with an extra $1 trillion...
...main downside of tax cuts and benefit increases will be their tails; pity the politician who tries to taketh away what he's already giveth. That's why the best test of any cash stimulus will be whether it makes sense on its merits. Obama's aides have already dropped a proposal to give businesses a $3,000 credit for every job they create - an invitation to game the system. But payroll-tax relief will reward work and put money in the hands of the people who need it most. And there's no time like the present...