Posted on 04/15/2009 10:45:31 AM PDT by Sub-Driver
Press Releases Contact: Brendan Daly/Nadeam Elshami 202-226-7616 For Immediate Release 04/15/2009
Pelosi on Tax Day: Millions of Americans Will See Tax Cuts This Year Thanks to Economic Plan of Congress and Obama
Washington, D.C. – Speaker Nancy Pelosi released the following statement on Tax Day.
“Millions of Americans will see their taxes cut this year thanks to the economic plan of the New Direction Congress and President Obama. We enacted the fastest tax cut in history—the Making Work Pay Tax Credit—that workers are already seeing in their paychecks. To spur economic growth and lay a foundation for stronger economy, the recovery plan includes tax incentives for new, job-creating investments by American businesses and the American Opportunity College Tax Credit to help millions of students afford college.
“The House-passed budget provides an additional $1.5 trillion in tax cuts for the middle class, protects middle-class families from the Alternative Minimum Tax, and provides incentives to small business to create jobs.
“Congress and President Obama are committed to a fairer tax code that helps working families and small businesses and encourage job creation, all within the framework of a fiscally responsible budget that will cut the deficit by two-thirds in five years.”
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For state by state information on the Making Work Pay tax relief go to: http://www.recovery.gov/?q=content/making-work-pay&mode=table
Absolutely. It is NOT a tax cut, it is 13 dollars a week, which you will be lent until next tax day, 2010. Almost 700. that will either be pd back, or 700. less you will get back for a refund. NOT a tax cut.
ESAD Pelousy.
please don’t post her face on anything not walking on 4 legs.
Work is freedom, war is peace...need I continue?
I would have thought just sending a check would have done more to stimulate the economy NOW, but I’ll admit I’ve been playing around with my withholding ever since I filed my taxes, so I wouldn’t have noticed if my employer changed it as well.
6.2%, up to $800, is a gross income of $12,903. I would think that most people who work will have made that much in 2009, so they would see the full $800. Unless I’m not understanding the concept.
If you made $40,000, 6% of $40,000 is $2400, not $240, so I presume they just capped it at $400/800, and most people will see the credit. Unless you make too much money ($75,000 a year if you are filing separately), at which point I guess the meager credit amount will be taken away from you.
Ha. My brain is totally addled (and I work with numbers every day!)
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