The U.S. government is doing something every bit as bad. The congressional morons reduced the Social Security Payroll Tax at a time when it needs instead to be increased by two cents on the dollar! They are trying to put more money in the pockets of the poor and lower middle class to buy some votes and stimulate consumer buying.
Of course a cut in the lower bracket tax rate doesn't quite do the same job because the poor don't pay income taxes, so cutting their tax rate while making their paycheck look larger, would have just reduced their refund.
What the morons in Congress should have done was raise the upper bracket rate back to Clinton era level (~4% increase), as Obama asked for, raise the earned income credit, and lower the tax rate of the lowest bracket to achieve much the same thing. Or they might have considered ordering fewer obsolescent F-35 fighters by knocking out 1/3 of the Lockheed Martin F-35 budget which would save 120 billion, and then just send out checks a'la our former idiot President, the "W".
What a Country! God Bless America!
