Thursday, April 23, 2009

Does Obama Understand What Tax Cut Means?

Obama said this yesterday:
Through the American Recovery and Reinvestment Act, we have begun to modernize 75% of all federal building space, which has the potential to reduce long-term energy costs by billions of dollars on behalf of taxpayers. We are providing grants to states to help weatherize hundreds of thousands of homes, which will save the families that benefit about $350 each year. That’s like a $350 tax cut.

And HotAir had this to respond:
First off, saving $350 a year on energy savings is not “like a tax cut”. He tried making that same argument about lower interest rates on mortgages, too. The grant helps in paying for the weatherization, but the cost savings are just that. A tax cut is when government takes less of your money, not when energy companies take less of your money. By that definition, a broken lightbulb is like a tax cut, too, and thanks to cap-and-trade, it’ll get you used to the dark, too.