Thursday, January 29, 2009

Who pays for the stimulus

Andrew Dubinsky provides the following analysis:

What this means that, if your household earns between $200 - 500,000 (in 2005 income), it will be on the hook for roughly $30,000 of the stimulus bill.

And those tax cuts are not going to you, they are going to the households who do not pay taxes. How does that work? Well, a "credit" to a non-taxpayer counts as a "cut" in tax accounting.

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