June 16, 2011
WELFARE PIMPING FOR A HIGHER CLASS OF..WELL, YOU KNOW...::
Ethanol subsidy spurs a nasty tax fight on the Right (Timothy P. Carney, 06/15/11, Washington Examiner)
Taxpayers are subsidizing agribusiness and oil companies to spur production of ethanol, a fuel with dubious benefits that harms the economy and the environment while raising food prices. Abolishing this special-interest subsidy should be a no-brainer for fiscal conservatives, but instead -- because the subsidy comes in the form of a tax break -- it has become the flash point of a bitter feud.
In one corner is Sen. Tom Coburn, R-Okla., who tried this week to end the 45-cents-per-gallon ethanol tax credit. Opposite him is Americans for Tax Reform President Grover Norquist, who has insisted that killing tax credits is raising taxes.
If the divine nature of tax expenditures is now dogma on the Right couldn't President Obama become their avatar by vastly increasing the Earned Income Tax Credit?
Posted by oj at June 16, 2011 6:43 AM