With just ten days remaining before Election Day, the White House has let word leak out that it is supposedly considering a tax cut as part of a new plan to stimulate the moribund economy.
From the Washington Post:
The new tax cut could provide hundreds of dollars or more a year to workers and show up in every paycheck. It may be similar to a tax cut Americans received in 2009 and 2010, which provided up to $400 for individuals and $800 for married couples, sources close to the administration said.
The tax cut would replace the current reduction in Social Security taxes, which is set to expire at the end of the year.
There are two things that are interesting about this. At least two things.
One, the Obama camp has decided to put word out that the president is moving to the center, adopting the Republican notion of cutting taxes.
And two, the White House is acknowledging that the economy is not quite on the gradual, strong track to recovery President Obama is claiming.
A stimulus four years after the first one? This is as likely to make voters think something’s wrong as it is to make them believe Obama is going to set things right.