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U.S. President-elect Barack Obama arrives to make a speech on the economy at George Mason University in
Fairfax, Virginia, January 8, 2009. REUTERS/Jim Young
Posted on 01/08/2009 8:51:29 AM PST by Sub-Driver
Obama unveils $1000 tax cut, energy efficiency plan Thu Jan 8, 2009 11:44am EST
FAIRFAX, Virginia (Reuters) - President-elect Barack Obama said on Thursday he would offer working families a $1,000 tax cut and improve energy efficiency in millions of American homes in order to create jobs and stimulate the economy.
"To get people spending again, 95 percent of working families will receive a $1,000 tax cut
(Excerpt) Read more at reuters.com ...
.U.S. President-elect Barack Obama arrives to make a speech on the economy at George Mason University in
Fairfax, Virginia, January 8, 2009. REUTERS/Jim Young
Let’s see, Obama expires the Bush 2003 tax cuts which had reduced the federal income tax rates to where people making $50K/yr kept $2500 more of their money, so that is now gone and he gives them $1000 bucks.
(-2500) + 1000 = (-1500)
So people are shorted $1500 bucks. Wow! Thanks Obama, nice tax “cut!”
So he’s letting Bush’s tax cuts expire, then he’ll give us a check for $1000 for a year to make up for it?
That’s a left-wing extremist tax cut all right.
If it's the latter then there will be a run on HD TVs soon.
Doesn’t sound like anything new, just lots of make-work projects and pork to greeny projects.
What’s interesting about watching Obama go “uh...” for 2 hours? ;)
Bump that.
He’s slowing the rate of the tax increase-base line budgeting-nothing new.
No, because this proposal itself is stupid, and is actually anti-business.
I’m going to disagree with Obama’s prognosis. I think all the ingredients are already present for a recovery: free trade, low interest rates, relatively low taxes, currency in circulation. I think the most likely future problem is stagflation - a sluggish economy due to the declining value of the dollar.
Lies - when you don’t pay taxes, you cannot get tax cuts.
Another day, another zero.....Obamunism.
I’m assuming I won’t see any of it. Rather they’ll use my taxes to give to someone else.......
I also think there will be a turn around, albeit, followed by some high inflation. Unfortunately, Bambi will be in the position to take credit for natural market cycles that he has nothing to do with just as you’ll see him take credit for ‘winning the war on terror and in Iraq’ even though President Bush did the work.
Rather than a speech on the economy at George Mason U. I would have liked to see a debate between Obama and Dr. Walter Williams, prof. emeritus at George Mason.
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I hear ya. I would hope he was allowed in. Dems are big on power trips, ask Harry. ;-)
a “tax cut” by reducing the percentage of taxable income, or another “rebate” like last year where even those who don’t pay taxes get tax payer dollars instead of being actual tax payers getting their own tax money back????
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