The world’s most powerful man went to Twitter to promote his plan to avoid the so-called ‘fiscal cliff‘ of impending tax hikes. If his style is any indication, the prez tweeted from Camp David while sipping an Arnold Palmer. So, make like your commander-in-chief, put your feet up, and check out some of the best moments of tax policy in 140 characters or less...
A noteworthing high point in the responses, and this exchange will be catalogued by the Library of Congress:
@dontbeaprat: @BarackObama #My2k As a recent college grad w/o a full time job, these cuts wouldn't help me, would they?
@whitehouse: @dontbeaprat cuts w/out revenue = reductions in student loans; work/study & college tax credits expire. Bad for growth. like your hair! -bo
Meanwhile, Dean Baker:
Senator Lindsey Graham, a Republican often cited on budget issues, is apparently badly confused about the basics of the budget. A Post piece quoted Graham as saying:
"This offer doesn’t remotely deal with entitlement reform in a way to save Medicare, Medicaid and Social Security from imminent bankruptcy."
This statement is absurd on its face. Medicaid is paid out of general revenue, it makes no more sense to say that Medicaid faces bankruptcy than to say that the Commerce Department faces bankruptcy.
And Krugman:
The key is having a health insurance system that can say no — no, we won’t pay premium prices for drugs that are little if any better, we won’t pay for medical procedures that yield little or no benefit
But even as Republicans demand “entitlement reform”, they are dead set against anything like that. Bargaining over drug prices? Horrors! The Independent Payment Advisory Board? Death panels! They refuse to contemplate using approaches that have worked around the world; the only solution they will countenance is the solution that has never worked anywhere, namely, converting Medicare into an underfunded voucher system.
But, but... deficits!
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