[lbo-talk] Tax cut eliminates low-income credits

Brian O. Sheppard bsheppard at bari.iww.org
Sat May 31 01:42:10 PDT 2003


Almost every report I could find about story reported it similarly -- New York Times, AP, and the AFP story I quoted below. I know the media can get stuff wrong, but ... wow. All of them?

On Fri, 30 May 2003, Max B. Sawicky wrote:


> The header is inaccurate & the text below misleading.
> What was not included in the tax bill was an expansion
> of the Child Tax Credit that is still due to take effect
> in 2005 that might have been speeded up, along with all
> the stuff for higher income persons. There is no
> elimination of any existing credit.
> Now this is certainly a heinous act, but it
> pays to get the story straight.
>
> mbs

Almost every report I could find about the story reported it similarly -- New York Times, AP, and the AFP story I sent. I know the media can get stuff wrong, but ... all of them, and on this? Wow.

For ex. here's the NYT:

Tax Law Omits Child Credit in Low-Income Brackets

Thu May 29, 3:02 PM ET

By DAVID FIRESTONE The New York Times

WASHINGTON, May 28 A last-minute revision by House and Senate leaders in the tax bill that President Bush (news - web sites) signed today will prevent millions of minimum-wage families from receiving the increased child credit that is in the measure, say Congressional officials and outside groups.

[...]

"I don't know why they would cut that out of the bill," said Senator Blanche Lincoln, the Arkansas Democrat who persuaded the full Senate to send the credit to many more low income families before the provision was dropped in conference. "These are the people who need it the most and who will spend it the most. These are the people who buy the blue jeans and the detergent and who will stimulate the economy with their spending."

http://story.news.yahoo.com/news?tmpl=story&u=/nyt/20030529/ts_nyt/tax_law_omits_child_credit_in_low_income_brackets

Brian



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