For security purposes.
Posted on 02/06/2009 4:47:12 PM PST by Uncle Miltie
John Thune introduced an amendment to scrap the entire stimulus, and replace it with an across the board middle class tax rebate. Ask the average American family—would you prefer Congress spend tens of millions on STD prevention and fish pathways—or sent you a check for $10,286?
Thune Introduces Middle Class Tax Relief Amendment to the Stimulus Bill Middle Class Couples Would Receive up to $10,286
WASHINGTON, DC – Senator John Thune today introduced an across-the-board middle class tax rebate amendment (S. AMDT #538) to the American Recovery and Reinvestment Act of 2009. Senator Thune’s amendment would strike the entire $936 billion Senate stimulus bill and replace it with a $936 billion across-the-board-middle-class tax rebate for 182 million Americans. The amendment would result in a tax rebate of $5,143 for single filers and $10,286 for married couples who file jointly. Eligibility is capped for all tax filers at 2007 adjusted gross income of $250,000.
“There seems to be a great deal of discussion over how to spend American taxpayers’ money and future earnings. Instead of investing billions in wasteful government programs that won't provide immediate help to our troubled economy, my amendment invests in the American people,” said Thune. “I think most Americans believe they know how to best spend their own money and would rather have control over it than have the government create new federal programs, or waste it on pet pork projects that will not stimulate the economy. My amendment is an equitable way to ensure that virtually all working Americans benefit from this economic stimulus plan. This is substantial tax relief for middle class families.
In 2007, roughly 53 million joint and 76 million single tax returns were filed with an adjusted gross income of less than $250,000.
“If people are serious about the need for this stimulus bill to be timely, the fastest way to inject money into our economy is through tax returns. We could have $936 billion into the economy by the end of the year. Taxpayers want help and they don’t want us wasting their hard-earned tax dollars on programs that won’t benefit anyone in the near future. This amendment addresses all of the nation’s leading economists who have said that any stimulus bill needs to be timely, targeted, and temporary.”
Senator Thune explained his amendment on the floor of the U.S. Senate today. Video of his floor speech can be viewed here. The Senate is expected to vote on Senator Thune’s amendment later this afternoon.
I know; I don’t know what the gov’t could really do to encourage me to spend money. I’ve always been a saver and am especially so now in this recession. My husband was laid off all of Dec and Jan and I saved even more.
There’s no “incentive” that could get me to buy a car, for example, especially using credit. (We always pay cash and only buy used cars anyway.) My current cars are fine; I don’t want to spend a dime on anything unnecessary right now.
And I don’t want to buy another house or whatever, regardless of the $15K tax credit or whatever it was. Just want to hunker down. . .
Agree. I suffered a brief "hope and change" moment ...
With all due respect, your first premise is mistaken. It has been a very long time since our government believed that you owned anything. They literally believe that it belongs to them and, moreover, that they are better qualified to spend it than you are.
He needs to go further, cut, slash corporate, capital gains, taxes and reduce or freeze the federal budget.
And also repeal the repatriation tax on monies outside the US
We’d spend it better than the morons in Congress. (or just save it) Problem is they’d probably give it to us and then tax us 20% on the “gift.”
Dude. You must’ve been reading my mind / posts. Econ 101. You are spot on. We could run the country just fine, you and me.
For security purposes.
If the pubbies would get more face time on TV and mention this at every opportunity they could hammer the point. Call press conferences every day. Blame Dems and be sure to mention the names of the RINO’s at every opportunity. Give their voters something to think about. I blame the dems in advance for proposing something that is NOT FOR THE CHILDREN. And it wouldn’t hurt to drive that point home daily too.
I was impressed with Thune and his plan. Would do more good then the pork laden bill which they are about to pass with three traitors from the GOP — Collins, Snowe, and Specter.
Evidently , it must be quantum physics to some though :(
And by the time ya get it, it'll be worth $10.28
Too bad the idiots in Congress are so insulated from the average American family that they aren't seriously thinking about...cutting Government spending.
Your additions would make Thune’s Bill almost perfect. Well done! : )
I am giving myself a stimulus. Filing tax with no check.
WOW!!!!! Impressive. : )
unfortunately no money back to those of us breaking our backs to pay our tax bill and everyone elses.
I am going to spend the check I was going to send IRS on some fun. Screw em. Obviusly they don’t need it.
“It’s OUR money....just being given back to us...”
if we each took a $10k advance on our credit cards, it would cost us less in the long run.
(Pssst: This isn’t about sound economics, it’s about killing them with good politics.)
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