Max Baucus: Looking Out for the Common Person. Well, if the Common Person Makes $75k.
- Written by: PogieJanuary 29th, 2008
- Comments:5 Comments
- Category:Economy, Max Baucus
- Rating:
(2 votes, average: 5 out of 5)
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On the broad question of the proposed economic stimulus proposals, I’ll admit I’m not smart enough to understand how sending a few hundred bucks to people three months from now is going to have much of an impact on the economy, but if the federal government wants to keep mortgaging our shared future for the sake of political expediency, sign me up.
I’m also not smart enough to understand what $500 will do for people for people making over $75,000 per year, but Senator Baucus does, and has thus proposed making them eligible for the package as well:
Unlike the package negotiated by House leaders and the White House, Baucus’ $156 billion measure would allow tens of millions of seniors living on Social Security to qualify for the rebate, extend federal unemployment aid and boost a business tax rebate. Baucus’ rebate is lower than the House plan’s $600 per individual. He also would eliminate a House provision to phase out the rebate for Americans making more than $75,000.
It’s not exactly complicated to see why Baucus and other Senators want to extend the rebate to people on Social Security. They vote. There’s not much more to it than that. Of course, the spectacle of the American government giving more and more to the elderly while we refuse to adequately care for our children is something we should probably think about addressing one of these decades, but certainly not now.
Understanding the rationale for extending the benefits to people making over $75 is a bit more complicated, especially when that extension trades off with the rebate for lower income people, who are much more likely to spend the money, and thus, stimulate the economy. So why is Baucus advocating less money for those who might stimulate the economy (if such things actually work) and more for those who are less likely to do so?
Since it isn’t for average Montanans, who make nowhere near $75,000 annually, one has to ask who Max Baucus is really representing.
Related Posts:Tue, Jan 29, 2008
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Stimulus Package: Baucus Between a Rock and Election-Sensitive Republicans « 4&20 blackbirds Says:
January 31st, 2008 at 9:00 pm[...] one around here (or there) was happy when we found out that Baucus removed the caps on the subprime buyout stimulus [...]
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January 29th, 2008 at 9:11 am
Pogie - I think that the last sentence you quote (”Baucus’ rebate is lower than the House plan’s $600 per individual. He also would eliminate a House provision to phase out the rebate for Americans making more than $75,000.”) may just be bad sentence structure.
I’m pretty sure Baucus’ plan eliminates those making over $75,000, but it does add the inclusion of seniors and low income people.
January 29th, 2008 at 9:21 am
I should be clearer too - bad sentence structure on the part of the Billings Gazette - not you.
January 29th, 2008 at 8:08 pm
Hey, thanks for the comment, but I’m not sure that you’re right, Gazette sentence notwithstanding.
There also was disagreement over the Baucus proposal’s lack of upper-income limits for rebate eligibility, with some senators saying billionaires like Bill Gates and Warren Buffett ought not get checks.
Still, Baucus described his bill as “quite an improvement” over the House version. He said removing the income caps is “clean and simple,” while the House-passed bill is “extremely complicated.”
Baucus predicted the bill would attract the 60 votes needed for passage, and said it could be finalized and signed by February 15.
January 30th, 2008 at 7:08 pm
well, big ‘oopsie’ on my part, huh? I guess I got lost somewhere between the House and the Senate. Probably didn’t want to believe it was true.
Hopefully he’ll change his mind, huh?
I should say that I don’t have any problem with giving the cash to seniors. At least they’ll spend it - like I said, I’m putting mine under the mattress.
The interest rate dropped on my savings account for the second time in a month…that check is not even going into the bank. They’ve made enough off of pushing crack (ARM and subprime loans) to the masses - they ain’t getting one red dime of my $.