Verse of the Day

Friday, March 6

Spinning Transparnency 2

From the "Transparency Website" we see listed 288 billion under "Tax Relief" has an * that says:

"Tax Relief - includes $15 B for Infrastructure and Science, $61 B for Protecting the Vulnerable, $25 B for Education and Training and $22 B for Energy, so total funds are $126 B for Infrastructure and Science, $142 B for Protecting the Vulnerable, $78 B for Education and Training, and $65 B for Energy."


There are 214 references to "train" and Training. Linking that with "taxes" and I can find no references where the two words are in proximity to one another. There is some reference to training people for jobs but I did not note anything about "tax" incentives in that section of the bill. Section 1828-1833 starting on page 267 is one of the most detailed on "training" I could find. In this section the part dealing with "relocation" section 1833 seems to speak of changing allowances for those who move due to new jobs.

"Energy" has to be one of the watch words in this document with over 270 references to the word. When linked with "taxes" the number of total hits swell to over 700. There are provisions for tax breaks for those who buy Electric plug in vehicles and what is being labled "Green Retrofit Investments" [page 108]. In this place I'd say there is some direct correlation between "Tax Relief" and the footnote.

Closing thoughts. I do not doubt that "Tax Relief" exists within this bill. My concern is the attempt to seemingly lump it with so many programs, ideas, projects and items which, in no way, are associated with income, FICA or Medicare taxes. It sounds a lot like a con job.

Here are my two cents worth for a beginning to get out of this crisis and it's ONLY a start. First amend the tax code to allow the interest on automobile loans for cars manufactured since 2007 to be deducted from one's income even if they do NOT itemize their deductions. Even if it were capped at $2,500 a year and fade away in five years it would be a movement to help get people purchasing in a very fragile segment of our economy.

Secondly, since so many people are coming to rely on non-profits for food, utilities, housing and the like, allow one's "charitable donations" to be deductible regardless of whether deductions are itemized or not. This would allow the smaller gifts of those who rent, who do not have a huge amount of non-insured medical bills to know that they are helping people and get a little bit out of it on their taxes.

Okay, I'm done with this bill. Hope it helps. Please point out those links between tax relief and the footnote I missed.

Peace
Alan

1 comment:

  1. It would appear to me that, with President Obama's push to disallow some tax deductions for charitable donations, he wishes to starve non-governmental sources of aid so as to shift reliance to the state.

    ReplyDelete