How the economic stimulus plan could affect you

The Associated Press ^ | Sat Feb 14,

[angelcindy]

An examination of how the economic stimulus plan will affect Americans.

___

Taxes:

The recovery package has tax breaks for families that send a child to college, purchase a new car, buy a first home or make the ones they own more energy efficient.

Millions of workers can expect to see about $13 extra in their weekly paychecks, starting around June, from a new $400 tax credit to be doled out through the rest of the year. Couples would get up to $800. In 2010, the credit would be about $7.70 a week, if it is spread over the entire year.

The $1,000 child tax credit would be extended to more low-income families that don't make enough money to pay income taxes, and poor families with three or more children will get an expanded Earned Income Tax Credit.

[angelcindy]

I would like to know whats in it ,they are not saying!

[Travis McGee]

Check out this 4 minute country music video called "Shuttin' Detroit Down."

[GeorgiaDawg32]

this is supposed to be it..

http://www.whitehouse.gov/the_press_office/arra_public_review/

[Da Coyote]

I have two sets of two word answer as to how it will affect me:

In the short term: “It won’t.”
In the long term: “We’re screwed.”

[Mr Ramsbotham]

There are many more ways that this can “affect you” apart from the obvious, particularly by destroying economic opportunity generally, decreasing the value of your money and assets, and reducing the sovereignty you have over your own life and your own affairs.

[Darkwolf377]

In 2010, the credit would be about $7.70 a week, if it is spread over the entire year.

At that point, the "credit" will be the TOTAL of most paychecks, and we will all be government employees and "won't need money, since the Democrat Most Powerful Congress of Overseers" will determine all life choices for us.

[The Great RJ]

I remember how Tom Daschle derided Bush’s $400 stimulus plan in 2001..saying it would not be enough to buy a car muffler. Now I get a whopping $13 ...not enough to fill my gas tank even at today’s prices.

[blam]

"The $1,000 child tax credit would be extended to more low-income families that don't make enough money to pay income taxes, and poor families with three or more children will get an expanded Earned Income Tax Credit." work.

Most people don't realize that the IRS issues it's own welfare payments called Earned Income Tax Credit.

I wonder how many more government agencies will begin issuing welfare payments under a disguise like this?

[ßuddaßudd]

Great !!
More ATF money for me... o

[Iron Munro]

How The Economic Stimulus Plan Could Affect You:

Do you actually work?
Pay your own way?
Don't live on the backs of others?
Not sucking on the federal teat?

Then this pretty well sums it up:

[Adder]

Millions of workers can expect to see about $13 extra in their weekly paychecks, starting around June, from a new $400 tax credit to be doled out through the rest of the year. Couples would get up to $800. In 2010, the credit would be about $7.70 a week, if it is spread over the entire year.

JUNE???? I want my bambabucks NOW!!!

And pie. They said there would be pie.

[$13 whole dollars,,,,omg! Thankee Zero! I sho nuff be glad you watching out f’ lil ole me! Wow....$13 whole dollahs. um...mmm...mmm...]

[Adder]

The screw is in the wrong place....

[M-cubed]

families that don't make enough money to pay income taxes, and poor families with three or more children will get an expanded Earned Income Tax Credit.” work. <

Future “HELP WANTED” ads ...

Single mother with 2 kids needs sperm donor...FAST!

First come...first served basis..

[TruthWillWin]

I’m thinking about expanding my business, looking at some numbers now. If I were to get a tax break for a new employee that would help me in making a decision to expand.

[DJ Taylor]

"Millions of workers can expect to see about $13 extra in their weekly paychecks..."

Obama, Pelosi, and Reid loot the national treasury and my cut is thirteen dollars!

[patton]

Great song, although I disagree with the characterization of the rank & file UAW as innocent victims.

They brought their own problems, just like the US voters have done.

[callisto]

Obama, Pelosi, and Reid loot the national treasury and my cut is thirteen dollars!

Now that's a t-shirt slogan!

[jaz.357]

Chump change.

[mimaw]

I think I'll produce some T-Shirts for the employed middle class dumb ass that voted for Obambi cuz they were gonna get a tax cut on the backs of the rich. I VOTED FOR OBAMBI AND ALL I GOT WAS A LOUSY $13.00 A WEEK.

[theBuckwheat]

How will affect you? Somehow, someway, everyone will pay for it. Government borrowing and wasteful spending of this magnitude will eventually have economic consequences like higher rates of interest, higher inflation, lower rates of business growth, reduced job growth, etc.

Economist Ludwig von Mises stated that when government pushes money into the economy like this, it only creates the “appearance of prosperity”, and when the investments that were made with the borrowed funds cannot pay even the cost of the interest expense, we will see a sudden fall in economic activity and asset prices will fall to a “sustainable” level.

This is EXACTLY what happened in the last year as the real estate bubble came to maturity, burst, and then house prices fall to where the market will support them. We only make this boom-bust cycle worse by trying to deny the natural market prices of everything, including the free market price of money.