May
01
2009
1

‘The Trillion Dollar Fix.’

I hope you meant that as a drug reference, Megan.

R.S McCain summarizes Megan McArdle’s post about our current economic strategy in three words: “It won’t work.” Which is a fair assessment, both in what Megan’s analysis and in her conclusions. Personally, I would have preferred it if Stacy could have been able to summarize both with one word, though: “Oops.”  Not to be a broken record about this, but I didn’t need Megan to tell me that we enjoy, ah, suboptimal economic oversight. I already knew. Or that the current administration seems to default to style over substance. I already knew that, too. Or even that we are going to have to raise taxes on the lower and middle class to pay for all of this. A lot of us knew this already.

But apparently, we just weren’t trendy enough to satisfy a sufficiently large portion of the electorate.  To those of them reading this and smirking, at this point: real quick.  You know that tax cut that some of you college kids received?  Yeah, the $13 dollars a week thing that didn’t even register with most people.  Anyway, turns out that the IRS messed up:

— A single college student with a part-time job making $10,000 would get a $400 boost in pay. However, if that student is claimed as a dependent on a parent’s tax return, she doesn’t qualify for the credit and would have to repay it when she files next year.

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