The press has simply been sppon fed the GOP narrative on the stimulus package. The Obama team needs to use this against the various GOP talking heads that appear on TV talking about how tax cuts are the best approach.
Is Obama’s Tax Cut the Biggest in History? – Steven Waldman.
The Democrats have been so busy defending federal spending, and denigrating the stimulative power of tax cuts, that they apparently either forgot — or felt they couldn’t — point out something rather dramatic: the tax cuts in this stimulus plan appear to be the biggest in history.
The compromise stimulus plan includes $282 billion in tax cuts over two years.
According to the Wall Street Journal, Bush’s first two years of tax cuts amounted to $174 billion. A second batch in 2004 and 2005 cost $231. And those were thought to be bigger than the tax cuts offered by Reagan, Kennedy or others.
Now, perhaps some new analysis will show that the tax cuts end up not quite being the largest in history by this measure or that. But it’s clear they’re massive.
