Krugman: Obama and the One Percent

[geek tragedy]

89. Heh, classic ODS.

Whose idea was the Making work pay credit.

It was "campaign Obama".

Then it was abandoned by "President Obama"

Reality:

http://en.wikipedia.org/wiki/Making_Work_Pay_tax_credit

The Making Work Pay Tax Credit was a tax credit allowed by the Internal Revenue Service of the United States.[1] It was authorized in the American Recovery and Reinvestment Act of 2009.

The credit was given at a rate of 6.2 percent of earned income up to a maximum of $400 for individuals or $800 for married taxpayers. Making Work Pay could be claimed by single filers making between $8,100 per year and $95,000 per year. Joint filers in the range of $8,100 and $190,000 could claim it annually. Typically employers reduced withholding to provide an increase in take-home pay without any effort required from taxpayers. If the taxpayer had multiple jobs or was self-employed, they needed to adjust withholding. However, if the worker had multiple jobs or was unemployed, they had the option to receive the credit via lump sum (all $400 to $800 at once) after tax day.

The key thought behind the Making Work Pay tax credit was to stimulate consumer spending. In fact, the credit was the key policy in President Barack Obama's stimulus package in 2009.

A household making $100K is not 'rich.' Two teachers in NYC making $75K are not rich, they can afford to buy maybe a crappy 2br apartment in Queens. Maybe.

Your bizarre notion that households making over $100K--including firefighters, teachers, and bus drivers:

http://www.mta.info/nyct/hr/postings/skilled.htm

--are rich does not trump reality.