Posted on 02/11/2009 4:32:23 PM PST by hercuroc
Q: What are some of the tax breaks in the bill?
A: It includes Obama's signature "Making Work Pay" tax credit for 95 percent of workers, though negotiators agreed to trim the credit to $400 a year instead of $500 — or $800 for married couples, cut from Obama's original proposal of $1,000. It would begin showing up in most workers' paychecks in June as an extra $13 a week in take-home pay, falling to about $8 a week next January.
There is also a $70 billion, one-year fix for the alternative minimum tax. The fix would save some 20 million mainly upper-middle-income taxpayers about $2,000 in taxes for 2009.
(Excerpt) Read more at news.yahoo.com ...
That's alot of bang for the buck.
Yep, that’ll really stimulate the economy. /sarc
This needs to get on all of the Fox programs and Rush’s show, because all the brain dead BO worshipers need to hear how they’ve been hoodwinked.
So THAT’S how he campaigned on a tax cut for 95% of us.....it’s a miniscule amount that won’t really do us any good. I mean a whole $13.00....how WILL I invest it? LOL
Thanks, rich people. That’s about two free lunches per week
(too bad there is no free lunch)
LOL...what an f'n joke.
What I don’t understand (from reading the article) is the bulk of the jobs are from building infrastructure. Now how many white color workers are going to be employed by this? Not many, it may help the construction trades, but the average non-construction worker won’t find a job (of course unless he’s a structural engineer, etc.)
They would have been better off doing another check for a lump sum as they have done in the past. Of course both methods are a waste, but with a lump sum, at least it would be somewhat meaningful to the recipient.
$13 per week will buy a box of cheap ammo I suppose....
They've been totally bamboozled. Especially those white male blue collar workers in Michigan, PA, OH. etc. This is what they get in return for their misguided vote. $13 and 9 months on the unemployment line.
Do any of you know the actual income level at which this is phased out? In other words, who are the 5% who do not get the $13?
Of course after they repeal the “Bush Tax Cuts For the Rich” all of us will be taking home roughly a hundred bucks less a week, so the 13 back will be soooooo welcome.
800 billion and all they can spare is $13? With all the money they plan to spend they could pay off 90% of all mortgages (per the WSJ)! Where the hell is all that money going?
Woohoo! I’m getting a 6 pack and a burrito every week for a year!
Now, how's that supposed to work. Are they going to apportion it to employers to pass on to employees? What about self-employed? Are they getting a $13 check every week from the Fed Gov't?
Sheesh. What a mess.
I didn’t get a full measure of rebate, so I expect my tax burden to go up (and up, and up, and up) under this administration.
This $13 should offset the increase in cigarette tax, though.
Good. The sooner the looney left gets fed up with these people the sooner we’ll be rid of them.
that will save Starbucks
well geesh, that ain’t even enough to buy a pie.
Obama cheats workers once again. Spends on pork instead of the hard working people.
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